隨著人口結構老化與平均壽命延長，老年年金給付逐漸形成政府財政隱憂，社會保險將入不敷出、面臨破產。對於改革方案，社會認為沒有解決人口老化財務問題、職業別退休保障不平等、世代負擔不公平的爭議，這些方式只是延後破產年限，最後仍是年輕人承擔後果，現在的年輕人與未來世代的負擔沉重，存在世代不公。本文選擇有年金給付的國民年金、勞工保險年年金給付和軍公教人員退撫制度月退休金做為討論對象，了解在現制下的世代差異，以及根據政府提出的改革方案，分成折現率、月投保薪資、年金給付率、計算倍數和費率五項。結果發現，現制設計確實存在世代不公的現象，老年世代在國民年金、勞保年金、退撫制度領取總金額占繳交總金額是3倍、3倍和5倍，而年輕世代只有1.5倍、1.5倍、2.5倍，社會平均補貼每人60萬元、60萬元、977萬元。並且社會保險對於高所得者補貼高於低所得者，使高所得者老年世代和低所得年輕世代存在雙重世代差距。變數調整結果發現，折現率和年資給付率效果較顯著，而月投保金額、倍數和費率則效果不顯著或是只有年輕世代顯著，加深世代差距。

隨著退休人口不斷的增加，加以政府的財政困難，各國無不加速年金改革的腳步，希望能建立一個財務永續、世代公平，且滿足社會保障需求的年金制度。臺灣的退休金制度長期以來處於提撥率遠低於精算平衡費率的狀態，加上不斷增長的潛藏負債，使得退休金制度將面臨破產的考驗。本研究針對公教人員退撫基金進行財務分析探討，發現對目前正在繳納的年輕世代，若不積極採取適當的年金改革方案，終將成為了繳多卻領少，或甚至領不到的一群人，未來可能缺乏老年經濟安全的保障，造成世代不均，形成嚴重的社會問題。 理想的退休金制度應該同時兼顧老有所養的目的與世代的公平，倘若不斷降低給付支出以達到財務平衡，對於民眾的老年經濟卻造成嚴重的威脅，也不是恰當的方案。研究結果顯示，改革的幅度若是太小，年輕世代(30歲)退休金的金錢價值比約為1；而年長世代(60歲)則約為2.5。而若是將改革的幅度提高，則年輕世代金錢價值比為1.05；而年長世代則約為2.4，均得出確實存在世代公平性的問題。因此，將年輕世代的退休金制度漸進地轉換成確定提撥制(DC)或許是更為理想的改革方式；而採用確定給付制的人，透過政府挹注、減少相當的給付或持續提撥保費，讓世代間透過包容、互助的精神，使得年金改革的路程能夠更正確更為有效，促成社會祥和，才能讓臺灣的年金制度永久的走下去。 / Because of the increased retirement population and the government's financial difficulties, all countries will accelerate the pace of annuity reform. Hoping to establish a financial sustainability, fair pension system and meet the social security needs of the annuity system. In this study, we discuss the financial analysis of the public Service Pension Fund and find that the young generation will become a group of people who receive less pensions. If we do not take the appropriate annuity reform plan, the pension fund will not provide economic security in the old age. The ideal pension plan should have the function of taking care the elderly and the intergenerational equity. If we continue to reduce the pension payment in order to achieve financial balance, the elderly economy will be threated seriously. It’s not a good and appropriate reform. The research results show that if the magnitude of the reform is too small, the money’s worth ratio of the young generation (30 years) pension is about 1; and the older generation (60 years) is about 2.5. And if the magnitude of reform is increased, the money’s worth ratio of the young generation is 1.05; and the older generation is about 2.4. All have the problem of the intergenerational equity. Thus, the pension plan of young generation changes into the defined contribution plan slowly. It may be a more ideal reform. And the people who use defined benefit plan have to reduce the payments, continue to pay premium into pension fund and the government provides the subsidies. So that the generations through the spirit of mutual assistance, it will make the journey of annuity reform can be more effective.