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Journal Article

Total Reward and pensions in the UK in the public and private sectors

Authors

Publication date

Aug 2012

Summary

Recent controversy has surrounded the relative value of public and private sector remuneration. We propose a comprehensive measure of Total Reward (TR) which includes not just pay, but pensions and other ‘benefits in kind’, evaluate it as the present value of the sum of all these payments over the lifetime and compare it for the highly educated in the UK public and private sectors. Our results suggest that TR is broadly equalized over the lifecycle for highly educated men while highly educated women have a clear TR advantage in the public sector by the end of their career. We suggest that the current controversy over public-private sector pension differentials and the perennial issues of public/private sector pay gaps requires a life time perspective and that the concept of TR is appropriate.

Published in

Labour Economics

Volume and page numbers

19 , 584 -594

DOI

http://dx.doi.org/10.1016/j.labeco.2012.05.010

ISSN

16

Subjects

Pensions, Wages And Earnings, and Higher Education

Links

http://serlib0.essex.ac.uk/record=b1650556~S5

Notes

Albert Sloman Library Periodicals *restricted to Univ. Essex registered users*

#520708


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