What is a Public Sector Pension Worth?
测量英国公共和私营部门固定收益养老金计划的应计额，发现公共部门覆盖率和养老金占工资比例均更高，主要源于较早的正常退休年龄和收入差异。
We measure accruals in defined benefit (DB) pension plans for public and private sector workers in Britain, using typical differences in scheme rules and sector-specific lifetime age-wage profiles by sex and educational group. We show not just that coverage by DB pension plans is greater in the public sector but that median pension accruals as a percentage of salary are more than 6% higher among DB-covered public sector workers than covered private sector workers. This is largely driven by earlier normal pension (retirement) ages but also by differences in earnings profiles across the sectors. Copyright © The Author(s). Journal compilation © Royal Economic Society 2009.