Total Reward, the Great Recession and the Proposed Public Sector Pension Reforms: Evidence from the Public vs. Private Sectors in the UK

在经历了30年的稳定强劲增长后，英国的真实的工资在2009年见顶，此后随着通胀超过名义工资涨幅而下降。尽管绝不是英国（公共）养老金危机的主要原因，但大衰退加速了立即进行养老金改革的必要性。公共部门净现金要求（PSNCR）使福利权利受到审查，因为不可持续的公共债务水平必须削减。因此，从2015年4月起，公共部门的养老金计划宣布了根本性的变化。时薪的暂时下降和养老金慷慨的永久操纵将对受影响的工人群体的终身总薪酬产生持久和相当大的影响，因此引发了一些问题：拟议的养老金变化将如何影响英国公共与私营部门工作的薪酬，谁将受到最大的影响？这些职业在国民保健服务、教师、地方政府和公务员计划的谈判养老金方面如何比较？这些变化将如何影响公营部门与私营部门的相对薪酬，从而影响公营部门吸引和留住足够的合适、能干和合格工作人员的能力？改革是否会导致雇员从公共部门转向私营部门，或改变新进入公共部门的人的素质？这些变化将如何与最近大衰退期间各种职业收入的下降相互作用？一旦我们考虑到改革后不同养老金计划的成员改变其选择退出公共部门计划的行为的可能性，这些结果将如何变化？这个研究项目将回答这些问题，结合总报酬的概念，最近开发的方法来评估工作报酬的各个组成部分的生命周期，与模拟方法，与建议的变化，参数设置。这种衡量总报酬的概念方法使特定职业和行业的平均职业生涯在货币方面具有可比性，并使我们能够模拟政策变化对绝对和相对薪酬以及跨行业员工转换行为的影响。总报酬包括工作条件（工作时数、带薪假期、失业的可能性）和工作时的所有直接经济报酬（收入，奖金，雇主提供的医疗保险），并推迟作为养老金支付在未来。我们将进行比较的雇员之间的特定教育群体在公共和私营部门的平均和比较公共与私营部门的职业，只要适用。在可能的情况下，我们还将考虑性别差异，并将探讨总薪酬方面的地区不平等程度。

After three decades of steady and strong growth, real wages in the UK peaked in 2009 to fall since then as inflation outstripped nominal wage gains. Although by no means being the main cause of the UK's crisis of (public) pension funding, the Great Recession has accelerated the need for immediate pension reform. The Public Sector Net Cash Requirement (PSNCR) brought benefit entitlements under scrutiny, as unsustainable levels of public debt must be cut back. As a result, radical changes have been announced to pension schemes across the public sector from April 2015. Both the temporary decline in hourly wages and the permanent manipulation of pension generosity will have lasting and sizeable effects on the total lifetime remuneration of affected cohorts of workers and hence prompts a number of questions: How will the proposed pension changes affect the remuneration in public vs. private sector jobs in the UK and who will be most affected? How do these occupations compare in terms of the negotiated pensions across the NHS, teachers', Local Government and Civil Service schemes? How will these changes affect the relative remuneration of the public vs. private sector and hence impact the public sector's ability to attract and retain an adequate supply of suitable able and qualified staff? Will the reforms induce sector switching of employees from the public to the private sector or change the quality of new entrants to the public sector? How will these changes interact with the recent declines in earnings in various occupations during the Great Recession? How will these results change once we take into account the possibility that members in different pensions schemes change their opt-out behaviour from their public sector plans after the reforms?This research project will answer these questions combining the concept of Total Reward, a recently developed methodology to value various components of job remuneration over the lifecycle, with simulation methods that are fed with the proposed changes to the parameter setting. This conceptual method for the measurement of Total Reward makes average careers in specific occupations and sectors comparable in monetary terms and allows us to simulate the impact of policy changes on absolute and relative remuneration as well as on switching behaviour of employees across sectors. Total Reward includes conditions of work (hours of work, paid holidays, the likelihood of unemployment) and all direct financial remuneration when working (earnings, bonuses, employer provided health insurance) and deferred as pension payments in the future.We will undertake comparisons between employees of specific educational groups in the public and private sector on average and compare the public vs. the private sector within occupations, whenever applicable. When possible, we will also take into consideration gender differences and will explore the extent of regional inequality in terms of total remuneration.