The development of some characteristics for equitable national retirement income systems

The objective of this paper is to establish and apply a set of characteristics or benchmarks for a nation's total retirement income system to be considered equitable. It must be stressed that the suggested characteristics do not, by themselves, design a national retirement income system. Indeed, it is recognized that the political, historical, economic and cultural context of each country will always influence such designs. However, this paper will demonstrate that different designs of national retirement income systems are not equally effective when subjected to these equity criteria. Hence, in putting forward these characteristics, the aim is to develop clear distinctions between equitable and inequitable national retirement income systems.