Moeis, Ahmad Irsan A.; Nachrowi, Nachrowi D.; Ananta, Aris - In: Cogent economics & finance 10 (2022) 1, pp. 1-16
A generous PAYG defined benefit pension system can guarantee retirees to have comfortable life, but the state budget may not be sustainable when the population is ageing. On the other hand, a defined contribution pension system guarantees state budget sustainability, but making retirees’...