Retirement benefit programs : analysis and a proposal for Hong Kong
Document Type
Journal article
Source Publication
Hong Kong Journal of Gerontology = 香港老年學報
Publication Date
6-1-1991
Volume
5
Issue
1
First Page
16
Last Page
22
Publisher
Hong Kong Association of Gerontology
Abstract
An analysis of the desirable qualities of retirement benefit programs in the light of both economic theory and the practical experience of countries suggests that a publicly administered, mandatory, and basic income-support program that is fully funded for each age cohort will cause the least distortions and will provide the most security to people facing a variable life span. Unlike most existing schemes which follow more closely the pay-as-you-go model, this proposal recommends a fully funded version under which the contribution formula carries age-cohort-specific paramenters. Contributions should rise with income while benefits should be flat in order to achieve desired redistributive objectives and to minimize distortions.
Print ISSN
16082346
Language
English
Recommended Citation
Ho, L. S., Lee, J. J., & Leung, J. P. (1991). Retirement benefit programs: Analysis and a proposal for Hong Kong. Hong Kong Journal of Gerontology = 香港老年學報, 5(1), 16-22.