Financing and Policy Strategies for Pensions in Indonesia

Hence, 6. PAYG cost rate (contd.) NC * AW * CRPAYG = NB * AB CRPAYG || NB * AB Nc * Aw C || NB AB No Aw RF where: II RD RD: Demographic ratio (i.e. what is the percentage of the number of pensioners compared with the number of contributors?) RE: Financial ratio (i.e. what is the average benefit level compared with the average wage?) 14

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