Rotate,
Very pleased that your transition out has gone well. My point about "many not" was aimed at the financial side as I know many don't get equity of pay, or a pay rise of £10k on leaving. The non-financial benefits are clearly the driver in the majority of cases (family, stability, location)
If an FRI keeps someone who goes, "well, it's quite a big lump of cash for only another 5 years!" then it works. Not saying the majority think like that.
Personally, I don't think the amount is competitive in the current / near-term private sector climate, but try telling that to the Treasury.