Gender of pensioner

Retirement age, β

Expected age of death of pensioner, θ

Claim years

Replacement rate when retirement at age, b(β)

Increase of replacement rate under the two adjacent retirement ages, b(β) − b(β−1)

male

55

85

30

19.92%

-

56

29

21.15%

1.23%

57

28

22.47%

1.32%

58

27

23.86%

1.39%

59

26

25.36%

1.50%

60

25

26.96%

1.60%

61

24

28.68%

1.72%

62

23

30.53%

1.85%

63

22

32.54%

2.01%

64

21

34.71%

2.17%

65

20

37.09%

2.38%

female

50

89

39

13.50%

-

51

38

14.32%

0.82%

52

37

15.19%

0.87%

53

36

16.10%

0.91%

54

35

17.04%

0.94%

55

34

18.04%

1.00%

56

33

19.10%

1.06%

57

32

20.21%

1.11%

58

31

21.39%

1.18%

59

30

22.64%

1.25%

60

29

23.97%

1.33%

61

28

25.39%

1.42%

62

27

26.90%

1.51%

63

26

28.52%

1.62%

64

25

30.26%

1.74%

65

24

32.13%

1.87%