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

总报酬、大衰退和拟议的公共部门养老金改革：来自英国公共部门与私营部门的证据

基本信息

批准号：
ES/L014920/1
负责人：
Peter Dolton
金额：
$ 13.33万
依托单位：
University of Sussex
依托单位国家：
英国
项目类别：
Research Grant
财政年份：
2015
资助国家：
英国
起止时间：
2015 至无数据
项目状态：
已结题

来源：
https://gtr.ukri.org/projects?ref=ES%2FL014920%2F1
关键词：
Total Reward Great Recession Proposed

项目摘要

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.

在经历了30年的稳定而强劲的增长后，英国的实际工资在2009年见顶，此后开始下降，原因是通胀超过了名义工资的增长。尽管大衰退绝不是英国(公共)养老金融资危机的主要原因，但它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)将福利权利置于审查之下，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，整个公共部门的养老金计划都宣布了根本性的变化。无论是时薪的暂时下降，还是养老金慷慨程度的永久性操纵，都将对受影响工人群体的终身薪酬总额产生持久而可观的影响，从而引发一系列问题：拟议中的养老金改革将如何影响英国公共部门与私营部门工作的薪酬，谁将受到最大影响？就NHS、教师、地方政府和公务员计划的谈判养老金而言，这些职业的比较情况如何？这些变化将如何影响公共部门和私营部门的相对薪酬，从而影响公共部门吸引和留住适当、有能力和合格的工作人员的能力？改革是否会导致员工从公共部门转向私营部门，或者改变公共部门新进入者的素质？在大衰退期间，这些变化将如何与最近各种职业收入的下降相互作用？一旦我们考虑到不同养老金计划的成员在改革后改变其选择退出公共部门计划的行为的可能性，这些结果将会发生什么变化？这项研究项目将回答这些问题，结合总回报的概念，这是一种最近开发的方法，用于评估整个生命周期内工作薪酬的各个组成部分，并结合模拟方法，提供对参数设置的拟议变化。这一衡量总报酬的概念性方法使特定职业和行业的平均职业在金钱上具有可比性，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跳槽行为的影响。总报酬包括工作条件(工作时数、带薪假期、失业可能性)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)和未来作为养老金支付的延期支付。我们将对公共部门和私营部门特定教育类别的雇员进行平均比较，并在适用的情况下比较公共部门和私营部门的职业。在可能的情况下，我们还将考虑到性别差异，并将从薪酬总额方面探讨地区不平等的程度。