user on the one hand, many public sector employees DO still have considerable benefits from final salary pensions - both those yet to retire and those already retired.
On the other, new entrants to work in the public sector are less likely to be offered a final salary scheme.
Just to confuse matters further, some posters refer to private company DB schemes, which are increasingly rare and certainly not as common in the private sector as they are in the public sector, as 80sMum points out correctly.
However, as a pension analyst polkadotties you will know the difference between a private company DB scheme (yes, they exist, but are a tiny percentage of overall pension provision) and a Defined contribution Personal Pension Plan - where there is usually no guaranteed pension income and certainly no automatic "5% p.a. Increase" !!!! Not quite sure why you are brought that up.
The payoff between private and public sector was always historically - job security, DB pension and relatively generous terms and conditions (not pay!) of employment in public sector against job insecurity, much less generous pension provision and terms and conditions (for the vast majority) but potentially better earnings in private sector.
This distinction has become a bit muddled and blurred over recent years but is BROADLY true. I deal with public sector employees approaching retirement in relatively non-high-flying roles, who have accumulated really substantial benefits for retirement - such that those in the private sector could only dream about! - and yet do not seem to realise how well they are placed.
Also, those who seem to think that workers in the private sector all have vast salaries - I now earn considerably less (after taking into account wage inflation) running my own small business than I did as a teacher 12 years ago. And I am typical in my friendship group - a mix of medical bods, teachers, small business owners. Those in the private sector are successful but certainly not massively high earners. And the portion they have to save towards their pensions is HUGE.