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Most people generally support contributory earnings-related pension systems, based on the principle of reciprocity (merit). Yet participants in these systems, particularly those with short, interrupted, or low-income employment, may receive extremely meager benefits. Although it is assumed that countries’ pension systems reflect a shared understanding of what constitutes a fair benefit for older adults, these justice perceptions are underresearched. We conducted a factorial survey (vignette study) to test hypotheses related to the perceived deservingness and fairness of low (or “paltry”) pensions. We manipulated levels of merit, need, and equality as suggested by distributive justice approach. Additionally, following the CARIN model of deservingness, we manipulated levels of control, identity, and attitude. Our preliminary results indicate that paltry pensions are perceived as unjustly low. This is particularly the case for vignette profiles with little or no control over their working lives. Male respondents saw women profiles as deserving of lower pensions than men’s. Older respondents, however, were not more likely than younger respondents to judge pension benefits as too low.