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Identifier to cite or link to this item: https://hdl.handle.net/10086/14486

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Title
Net Pension Liabilities, Intergenerational Equity, and Pension Reforms
Creator
Creator Name
Oshio, Takashi Oshio, Takashi
小塩, 隆士 小塩, 隆士
オシオ, タカシ オシオ, タカシ
Affiliation
Affiliation Name
Tokyo Gakugei University
Editor
Contributor Name
世代間問題研究プロジェクト（世代間利害調整） = Setting Options for Fair Distribution of Well-being among Different Generations, Project on Intergenerational Equity
Key Word
net pension liabilities
intergenerational equity
JEL
H55
H31
Abstract
This paper examines an ideal pension system that would prevent an increase in net pension liabilities and redress intergenerational inequalities. The direction of pension system reform that this paper proposes is to limit the amount of pension benefits to the sum of premiums, state contributions, and yields on investment of reserves, and also to minimize the burden on the insured of premium payments. This reform would have roughly the same effect as a switchover to a funded system. It will be, however, no easy task to carry out this kind of reform, because the reform requires a politically unacceptable step: to request those generations already receiving pensions and those who have paid pension premiums to accept reductions in the amount of pension that the government has pledged to pay. One possible means to deal with this problem is to withdraw the reserve funds, which are now over 100 trillion yen. However, withdrawal of the reserves would reduce the opportunity of future generations to use the funds and yields on investment of the funds. Any attempt to reform the pension system will cause conflicts of interests between generations. This is why the government should positively disclose the outlook for its pension finance, mainly net pension liabilities, and information about intergenerational disparities to provide the public with data for objective discussions on a more desirable form of public pension.
Publisher
Institute of Economic Research, Hitotsubashi University
Issued Date
2002-12
Language
English(eng)
Resource Type
technical report
Version Type
VoR
Is Part OfRelation -
Related Title
Discussion Paper ; No. 131
NCID
AA11851730
Number of Pages
26
Sponsorship
科学研究費補助金（特定領域研究） = Grant-in-Aid for Scientific Research on Priority Areas
Appears in Collections
Discussion paper / Setting Options for Fair Distribution of Well-being among Different Generations, PIE
URL
https://hdl.handle.net/10086/14486