Not these days, no. It's just a regular private pension you'd get anywhere (except the absolute worst employers).
A lot of the amazing benefits people think we have were last seen in the 80s or whatever. Final salary pension, etc.
What we have now is the same as private sector people have. Or worse.
None of which are unique, or more than you'd have in the private sector.
Colleagues of ours have left and gone to private sector employers, added 70% to their salary, and now have better pension and benefits.
The idea that public sector benefits are some super duper advantage is for the birds.
I'm public sector and have a "final salary" pension, although it's the CARE (career average, revalued earnings) pension. It's still a defined benefit pension though, and it's still a very generous 1/49th accrual rate - I've seen it dubbed as "silver-plated" instead of gold-plated like the traditional final salary pensions were. I'll get a strong guaranteed income for life which rises each year with inflation, as well as my state pension. I get 35 days leave, plus bank holidays, plus an enforced closure at Christmas which doesn't come out of my allowance. I have a very good work/life balance.
I can't imagine how much of a private sector salary I'd have to sacrifice into a defined contribution pension in order to try and match what I get now - I imagine the resulting net takehome would be very close to what I get now.
Last edited: