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The comparative value of pensions

Published online by Cambridge University Press:  20 April 2012

Extract

1. This note incorporates a large part of the evidence given to the Scott Committee by the Government Actuary's Department, with additional material by myself as appropriate.

The Pay Comparison system

2. The actuarial calculations in question arise from job comparability exercises, when the value of the total remuneration package of specified jobs is being compared. In recent years, assessments have been made in the following circumstances:

(i) Pay comparison studies for the Non-industrial Civil Service.

(ii) Pay comparison studies for the Industrial Civil Service.

(iii) Adjustments are made by the Review Bodies, who recommend salaries for the Armed Forces, Doctors and Dentists and Top Salaries. The Review Bodies consider various pension comparisons, but are not obliged to give reasons for their salary recommendations.

(iv) Advice to the former Standing Committee on Pay Comparability (Clegg) for staff groups referred to them.

(v) Compensatory additions to pay are quoted for a number of bodies whose staff are paid by reference to Civil Service and other public service rates, but who are in other pension schemes.

Type
Other
Copyright
Copyright © Institute and Faculty of Actuaries 1982

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