Public Pensions and Intergenerational Equity

As Japan’s birthrate declines and its population ages, the financial burden of
the present public pension system on younger generations is becoming
increasingly disproportionate to the pension benefits that these generations will
actually receive. How should we approach this problem of intergenerational inequity?
The arguments presented in this issue of the NIRA Policy Review propose that,
considered by generations, the discrepancy between benefits and burdens should be
largely the same, and, considered at the level of the individual, benefits and burdens
should be in equilibrium; at the same time, it is indicated that fairness should be
ensured in the social security system as a whole.

Motoshige Itoh
President, National Institute for Research Advancement (NIRA)
Takashi Oshio
Professor, Institute of Economic Research,Hitotsubashi University
Makoto Usami
Professor, Department of Social Engineering,Tokyo Institute of Technology
Izuru Makihara
Professor, School of Public Policy, Tohoku University
Taro Miyamoto
Professor, Graduate School of Law, Hokkaido University
Sawako Shirahase
Professor, Graduate School of Humanities and Sociology, The University of Tokyo