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Table 1 The retirement delay’s overall marginal effect on pension deficit

From: Retirement delay unified or differentiated—based on the interaction between pension deficit and labor market

Plans

Φ

τ

Number

e h0

e l0

\( {\mathrm{N}}_{\mathrm{t}}^{\mathrm{wh}} \)

\( {\mathrm{N}}_{\mathrm{l}}^{\mathrm{tw}} \)

\( {\mathrm{N}}_{\mathrm{t}}^{\mathrm{rh}} \)

\( {\mathrm{N}}_{\mathrm{t}}^{\mathrm{rl}} \)

\( {\mathrm{w}}_{\mathrm{t}}^{\mathrm{h}} \)

\( {\mathrm{w}}_{\mathrm{t}}^{\mathrm{l}} \)

\( \frac{\partial d}{\partial {\delta}_h}+\frac{\partial d}{\partial {\delta}_l} \)

A

A1

0.8

0.28

0.005

0.12

0.26

0.1

0.9

0.05

0.45

0.6

0.3

–0.0563

A2

0.8

0.28

0.005

0.11

0.23

0.1

0.9

0.05

0.45

0.6

0.3

–0.0582

B

B1

0.8

0.28

0.005

0.12

0.3

0.1

0.9

0.05

0.45

0.6

0.3

–0.0539

B2

0.8

0.28

0.005

0.11

0.25

0.1

0.9

0.05

0.45

0.6

0.3

–0.0571

  1. A differentiated plan, A1 great retirement delay, A2 slight retirement delay; B uniform plan, B1 uniform plan with more delay, B2 uniform plan with less delay