摘要：The ageing of the population, resulting from both the increase of life expectancy and the decrease of fertility rates will compromise pay-as-you-go social security schemes in the future. Many economic instruments could be used in order to maintain the balanced budget: the contributions, the benefits, the retirement age and the introduction of a funded pension plan. The aim of this paper is to evaluate the economic consequences of several reforms within a computable general equilibrium framework. We consider an overlapping generations model with labor heterogeneity: unskilled workers facing difficulties on the labour market and skilled workers. We show that a reform consisting simultaneously in the introduction of a funded pension system and the decreasing of benefits is Pareto-improving in the long term, but damages the welfare distribution between unskilled and skilled households. Moreover, we show that the increase in the legal retirement age is seven years.
