Modeling the Impact of Pension Reform. A Case Study
研究了安大略省私营养老金体系下三种基本计划设计（两种固定收益计划和一种货币购买计划）在不同经济假设和归属规则下对不同流动性特征员工的影响，并计算了养老金成本。
Within the context of the private pension system in Ontario, three basic plan designs (two defined benefit plans, one based on career-average earnings and one on last five years' average earnings, and a money purchase plan) are examined under various economic assumptions and vesting rules, for employees with different mobility characteristics and periods of participation in the labour force. The anatysis is based on probabilistic models designed to characterize the ultimate benefit to be derived by a typical employee (or, ex-post, by a group of similar employees) from his or her career membership in pension plans. The ensuing pension costs are also computed by an adaptation of the projected benefit cost method to lifetime pension benefits. The results obtained constitute a detailed assessment of (1) the basic plan types in use in Ontario, and (2) several vesting rules being suggested in different circles as more liberal alternatives to the current statutory minimum provisions.