C03GSX:POP-001:C03In the public-pension lens, the required pension-only payroll rate is 18 percent in the short-retirement case, 42 percent in the ageing-squeeze case, and 65 percent in the century-life stress case. Holding fertility at 1.7, coverage at 80 percent, and the benefit at 40 percent with price indexation, a rate at or below 20 percent requires retirement near 71, 75, or 79 as longevity rises from 90 to 100.high sensitivity
