This article examines the extent to which cognitive abilities relate to differences in trajectories for key economic outcomes as individuals move towards and through their retirement.
Lord Hutton's interim report on public service pensions recommended an increase in employee contributions in the short term. Suggestions for more fundamental reforms of the pensions will be made in the Commission's final report next spring. Any such recommendations should consider how cost effectively public service pensions attract and retain the desired calibre of staff in the public sector and whether any reforms to the structure of the schemes should be accompanied by reductions to the average generosity.
The paper examines in detail the value of pension provision to teachers in the public sector in England and Wales, comparing pension accrual under both the pre- and the post-2007 schemes.
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.
