关键词: 职工基本养老保险, 平均退休余命, 收入再分配, 内部收益率

Abstract: Taking stock of heterogeneity in life expectancy among the insured with different baselines of premium payment in the Basic Pension Insurance for Urban Employees（BPIUE）, this paper studies the pension income redistribution effect among the insured in BPIUE by calculating the internal rates of returns（IRRs）. Based on the provincial cross-section data, the average life expectancy at the retirement ages is calculated for the insured with different pension payments, and then IRRs for various groups of the insured is estimated and compared. It is found that there is a weak positive pension income redistribution effect existing in BPIUE. Although the IRRs of the insured with low premium payment bases is slightly higher than those with medium and high premium payment bases, their total IRRs are greatly reduced due to their relatively short lifespan. This reminds policy makers of special attention paid to the low-income insured when formulating policies such as delaying retirement and unifying UPIUE at the national level, taking the discrepancy of life expectancy among the different groups of the insured. .

Key words: Basic Pension Insurance for Urban Employees, Average Life Expectancy At Retirement Ages, Income Redistribution, Internal Rate of Returns