| Summary: | 碩士 === 佛光大學 === 應用經濟學系 === 103 === It’s been a long that our nation has entered into an elderly society, because of this, the dependency ratio has gradually increased over the past years. Under such situation, we can’t always live with our children and depend on them to support our retired life. We need to secure a retirement life with all the efforts from ourselves and the govt. There are two kinds monetary support to ensure your retirement life. First of all is retirement pension from social insurance (like labor insurance, government employee insurance and national annuity) and second is from occupational pension. We will compare four different kinds of employees, such as labor, teaching and administrative staff of national university, teaching and administrative staff of private university and the unemployed. At the first glance, all of the pension systems seem fair. For example, if you have longer seniority, you will receive more retirement pension. However, it becomes unfair if you analyze all the systems by comparing earning replacement rate. We aim to review the retirement system of the teaching and administrative staff of private university. By using the same retirement conditions, we compare the earning replacement rate with pension systems from various industries. As a result, we have proven that the pension system for teaching and administrative staff of private university has lots of rooms for improvement. Through salary tournament theory, we built an arbitrage-free model and inserted a life insurance pension into the model to offset the issue of external arbitrage. We hope the model will be able to provide an estimate of subsidy provided by the private university to teaching and administrative staff. By doing so, we see that the teaching and administrative staff from both private and public university would have similar pension systems. Therefore, it will be a win-win situation for both the private university and the teaching and administrative staff. We hope the arbitrage-free model will be able to reduce the salary competition within the industry and create the best proposal for perspective talents.
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