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Pension reform in China: Preparing for the future

Pension reform in China: Preparing for the future China is revamping its enterprise‐based old‐age security system and introducing a pension programme financed by the employer, employee, and the government through a combination of pooled funds and individual accounts. The new system is expanding coverage to the urban workforce outside the state sector and protecting benefits against inflation. The decentralised nature of the pension pools, however, limits increases in efficiency and portability of pension benefits. Sustainability of the revised system will require attention to fund management regulations and preparation for rapid population ageing by expanding coverage to rural wage earners and reducing benefits. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Development Studies Taylor & Francis

Pension reform in China: Preparing for the future

Journal of Development Studies , Volume 35 (3): 31 – Feb 1, 1999
31 pages

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References (42)

Publisher
Taylor & Francis
Copyright
Copyright Taylor & Francis Group, LLC
ISSN
1743-9140
eISSN
0022-0388
DOI
10.1080/00220389908422577
Publisher site
See Article on Publisher Site

Abstract

China is revamping its enterprise‐based old‐age security system and introducing a pension programme financed by the employer, employee, and the government through a combination of pooled funds and individual accounts. The new system is expanding coverage to the urban workforce outside the state sector and protecting benefits against inflation. The decentralised nature of the pension pools, however, limits increases in efficiency and portability of pension benefits. Sustainability of the revised system will require attention to fund management regulations and preparation for rapid population ageing by expanding coverage to rural wage earners and reducing benefits.

Journal

Journal of Development StudiesTaylor & Francis

Published: Feb 1, 1999

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