We set up a general equilibrium model in which heterogeneous individuals by level of learning ability and life expectancy optimally decide about their consumption/saving path, the length of schooling, and their labor supply, both at the intensive margin (hours worked) and at the extensive margin (retirement age). To account for the marginal effects that mortality and health may have on the length of schooling and retirement age, we follow Sánchez-Romero et al. (2016) and Bloom et al. (2014). Moreover, the model is implemented so as to simultaneously analyze the effects that any pension system (Funded/PAYG with Defined Contribution or Defined Benefit) might have on the optimal decisions, even though the model will be calibrated to the US case.