Occupational and sector differences in pensions and the total reward structure of the UK

Alexander Danzer and Peter Dolton, Royal Holloway, University of London

[Project number 30120]

This research project attempts to analyze the size and structure of employee's total reward, consisting of earnings and pensions. The research attempts to combine components of total reward (earnings, pensions and if possible wealth) that have not been analyzed jointly before in order to actuarily compute net present values of total lifetime rewards within and between predominantly public or private sector occupations (e.g., nurses, teachers vs. home carers, accountants). For this end, components of different data sets (pension scheme from ASHE, earnings from LFS, occupation-specific age-at-death and age-at-retirement rates from LS) have to be
merged in occupation-sector cells.