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CentrePiece article

Wage stagnation and the legacy costs of employment


Although UK real wages have been stagnant for over a decade, there has been a notable increase in nonwage compensation. But as Brian Bell reveals, this rise consists largely of special payments to fund deficit gaps in 'defined benefit' pension schemes - and most of these schemes have been closed to new members for years.


Brian Bell

6 November 2015     Paper Number CEPCP458

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