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年稳定而强劲的增长后，英国的实际工资在2009年见顶，此后随着通胀超过名义工资增长而下降。尽管大衰退绝不是英国（公共）养老金危机的主要原因，但它加速了立即进行养老金改革的必要性。公共部门净现金需求（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，政府宣布对整个公共部门的养老金计划进行彻底改革。小时工资的暂时下降和养老金慷慨的永久性操纵都将对受影响的工人群体的总终身薪酬产生持久而可观的影响，因此引发了一系列问题：拟议的养老金变化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？这些职业在NHS、教师、地方政府和公务员计划的协商养老金方面相比如何？这些变化将如何影响公共部门与私营部门的相对薪酬，从而影响公共部门吸引和留住足够的合适、能干和合格员工的能力？改革是否会导致雇员从公共部门转到私营部门，或改变公共部门新入职者的素质？这些变化将如何与最近在大衰退期间各种职业的收入下降相互作用？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，这些结果将如何改变？这个研究项目将结合总报酬的概念来回答这些问题，总报酬是一种最近开发的方法，用于评估整个生命周期中工作报酬的各个组成部分，并通过参数设置的拟议变化来模拟方法。这种衡量总报酬的概念方法使特定职业和部门的平均职业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的影响，以及对员工跨部门转换行为的影响。总报酬包括工作条件（工作时间、带薪假期、失业的可能性）和工作时的所有直接财务报酬（收入、奖金、雇主提供的健康保险），并作为将来的养恤金延期支付。我们将对公共和私营部门特定教育团体的雇员进行平均比较，并在职业范围内对公共和私营部门进行比较。在可能的情况下，我们也会考虑到性别差异，并探讨在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.