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JAPANESE PENSION REFORM: CAN WE GET OUT OF INTERGENERATIONAL EXPLOITATION?
Hitotsubashi Journal of Economics
Vol. 43, No. 2, International Symposium on Pension Reforms in Asian Countries (December 2002), pp. 57-71
Published by: Hitotsubashi University
Stable URL: http://www.jstor.org/stable/43296104
Page Count: 15
You can always find the topics here!Topics: Public pensions, Employee pension plans, Pension funds, Private pensions, Pension contributions, Political risk, Tax reform, Public assistance programs, Administrative expenses, Risk aversion
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In the rapid aging society of Japan, the current intergenerational inequality caused by public pension is intolerable. Fundamental pension reform is necessary to stop this "intergenerational exploitation." In this paper, I discuss some missing important topics such as intergenerational risk sharing, political risk and administrative cost in Japanese pension reform controversy. And I argue that reducing the benefit to the current pensioners is only the way to restore intergenerational equity in the Japanese public pension. Further, I discuss that the pension reform toward funded pension system is essential in order to avoid intergenerational exploitation in future.
Hitotsubashi Journal of Economics © 2002 Hitotsubashi University