| Summary: | 碩士 === 世新大學 === 財務金融學研究所(含碩專班) === 93 === Low birth rate and rapid aging population have been a common problems, challenging the pension system of the world economies as well as fiscal status of government. Hence, the researches of the topic have become an important academic and practical issue.
Retirment requires preparing sufficient funds to insure the safety and dignity of the aging people. However, there are many problems, for instance:how
much money do we need, how can we to get it, what is the cost of input, the problem of timing, problems of cash flow, risk evaluation, and asset allocation across various generations, costs of financing and transaction of government and employees, and so on. This thesis will focus on these issues.
In the beginning, this paper explains the condition of Taiwan using real data and official predictions. Next, we design an demand-supply identity of pension fund, and pinpoint the cost sides.
In terms of the 3-pillar project proposed by World Bank and the Council for Economic Construction and Development of Taiwan, we explore the calcula-
tion and correlation between cost structure and pension funds; moreover, we also analyze the advantages and disadvantages of different institutional arrangements. We point out that it will be a successful plan if the supply of pension funds larger than the demand of it, or substitute at least 80% of income.
In this paper, we collect many data and documents, which will contribute to the understanding of different occupations, as well as various policy objectives.
Accoridng to the bounded rationality, any institutional arrangement must incur a lot of uncertainties in the future. Therefore, during the period of retirement,
there must unexpected events occurred. Thus, the principle is to establish an adpative and flexible risk management institution toward people's aging life after retirement.
|
|---|
