On pensions, the solution is clear if unpopular: people will need to work longer. America should index the retirement age to longevity and make the benefit formula for upper-income workers less generous. The ceiling on the related payroll tax should be increased to cover 90% of earnings, from 86% now.
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Some progress has been made on pensions.
养老金制度已取得一些进展。
His academic work has been on pensions and labor market theory.
他的学术方向是养老金问题和劳动力市场原理。
Closing international organisations down is more difficult, involving fiddly decisions on pensions and redundancies.
关闭国际组织比设立艰难数倍，收拾残局意味着养老金和人员安置的繁琐杂务。
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