Chinas Pension System

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China's Pension System

Author : Mark C. Dorfman
Publisher : World Bank Publications
ISBN 13 : 0821395408
Total Pages : 265 pages
Book Rating : 4.8/5 (213 download)

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Book Synopsis China's Pension System by : Mark C. Dorfman

Download or read book China's Pension System written by Mark C. Dorfman and published by World Bank Publications. This book was released on 2013-04 with total page 265 pages. Available in PDF, EPUB and Kindle. Book excerpt: Comprehensive reform of China’s pension and social security system is an essential element of achieving its objectives of a harmonious society and sustainable development. Over the past few years, the Government has considered various options and initiated several significant measures. In 2009 the authorities established a national framework for rural pensions, the Rural Pension Pilot Program (RPPP) and in 2011 a Pilot Social Pension Insurance for Urban Residents announced. In this process, it has articulated principles for a reformed urban pension system (indicated by 12 Chinese characters ) which are “broad coverage, protects at the basic level, is multi-layered, and sustainable” while the principles for the rural system (indicated by 12 characters ) are “broad coverage, protects at the basic level, flexible, and sustainable.” These principles underpin the commitments made at the 17th Party Congress towards a comprehensive and integrated social security system by 2020. Although substantial reforms of the pension system have been undertaken over the past two decades, some policymakers have suggested that additional reforms are needed to meet the needs of China’s rapidly changing economy and society. Issues such as legacy costs, system fragmentation and limited coverage have not been fully addressed. At the same time, many new challenges have emerged such as rapid urbanization, increased income inequality and urban-rural disparities, greater informalization of the labor force, changes in family structure, and the effects of increased globalization. This report has been prepared at the request of the Ministry of Finance to develop a medium term vision of a holistic framework that could be realized by 2040 for strengthening old age income protection in China which is consistent with the principles outlined in the 12 characters and design options towards achieving it. The main body of this report outlines this vision – summarizing the key features of a proposed medium-term pension system – while the annexes provide the deeper analysis and context which underpins the recommendations contained herein.

China’s Pension System

Author : Jun Peng
Publisher : Taylor & Francis
ISBN 13 : 1040026923
Total Pages : 108 pages
Book Rating : 4.0/5 (4 download)

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Book Synopsis China’s Pension System by : Jun Peng

Download or read book China’s Pension System written by Jun Peng and published by Taylor & Francis. This book was released on 2024-03-25 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since 1978, when China started remaking its economy, it has also embarked on an unparalleled effort at remaking its pension system to accommodate its hybrid economic model. This book tells the story of how China has managed to build a national pension system that now covers most of its population and what this system holds for its future. This book covers the following topics: evolution of Chinese pension system to its current form; benefit design, financing, and governance of current pension system; challenges facing the pension system, especially the looming funding shortage due to accelerating population ageing; solutions to the challenges; and lessons learned from the Chinese experience. Due to the fragmentation of pension system among 31 mainland provinces, we also select three provinces as case studies to help readers gain a richer understanding of how economic and geographic diversity has created disparity in pension benefit design and financing between provinces and within a province and how such disparity adds complexity and challenges to the pension system. This timely and important study provides up-to-date and in-depth analyses for policymakers and stakeholders to make informed decisions and will be relevant for all scholars and students of public administration and public policy studies.

China's Pension Reforms

Author : Ke Meng
Publisher : Routledge
ISBN 13 : 135106164X
Total Pages : 263 pages
Book Rating : 4.3/5 (51 download)

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Book Synopsis China's Pension Reforms by : Ke Meng

Download or read book China's Pension Reforms written by Ke Meng and published by Routledge. This book was released on 2018-09-03 with total page 263 pages. Available in PDF, EPUB and Kindle. Book excerpt: Existing literature has looked at many factors which have shaped Chinese pension reforms. As China’s pension reform proceeds in an expanding and localising fashion, this book argues that there is a pressing need to examine it in the context of China’s political institutions and economic transformations. The book takes a unique approach by looking at political institutions of the Chinese state and the changing conditions of the Chinese economy, which rarely receive proper treatment in the current analysis of China’s pension reforms.

Governance and Fund Management in the Chinese Pension System

Author : Yu-Wei Hu
Publisher : International Monetary Fund
ISBN 13 : 145187393X
Total Pages : 52 pages
Book Rating : 4.4/5 (518 download)

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Book Synopsis Governance and Fund Management in the Chinese Pension System by : Yu-Wei Hu

Download or read book Governance and Fund Management in the Chinese Pension System written by Yu-Wei Hu and published by International Monetary Fund. This book was released on 2009-11-01 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Chinese pension system is highly fragmented and decentralized, with governance standards, pension fund management practices, their regulation and supervision varying considerably both across the funded components of the Chinese pension system and across provinces. This paper describes the key components of the system, highlights the progress made to date and identifies remaining weaknesses, in regard to information disclosure, the governance framework and pension fund management standards.

Managing Across Levels of Government

Author : Organisation for Economic Co-operation and Development
Publisher : OECD
ISBN 13 :
Total Pages : 430 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis Managing Across Levels of Government by : Organisation for Economic Co-operation and Development

Download or read book Managing Across Levels of Government written by Organisation for Economic Co-operation and Development and published by OECD. This book was released on 1997 with total page 430 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Old Age Security

Author : Ramgopal Agarwala
Publisher : World Bank Publications
ISBN 13 : 9780821340776
Total Pages : 104 pages
Book Rating : 4.3/5 (47 download)

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Book Synopsis Old Age Security by : Ramgopal Agarwala

Download or read book Old Age Security written by Ramgopal Agarwala and published by World Bank Publications. This book was released on 1997-01-01 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt: The seventh edition of this annual report reviews the long-term prospects for developing countries in light of changes in the global environment and provides a detailed discussion of selected aspects of the global integration process in those countries. The first chapter evaluates prospects for the major elements of the external environment affecting developing countries and the medium-to-long-term outlook for developing countries themselves. The report forecasts that the external environment for developing countries remains broadly favorable. Among the main policy challenges faced by these countries is their ability to adapt to long-run shifts in market opportunities and heightened competitive pressures brought on by global trade liberalization--now increasingly focused on liberalization of trade in services--rising global production, and other forms of global integration. The chapter considers the implications for the world economy of rapid growth and integration in large developing countries such as China, India, and Brazil in the period to 2020. The second chapter looks at the move toward greater globalization of production, broadly defined as cross-border production by multinational enterprises and their networks of affiliates, subcontractors, and other partners. Within this context, the chapter addresses the significance of global production in world output in main groups of countries and economic sectors; factors driving the trend toward global production, including heightened competition, worldwide policy liberalization, and rapid technological progress; the benefits that developing countries can derive from global production, such as new technologies and improved efficiency practices; and the issues for policymakers seeking to enhance participation in global production and maximize its benefits for host countries.

Pension Sustainability in China

Author : Randong Yuan
Publisher : Taylor & Francis
ISBN 13 : 1000483444
Total Pages : 141 pages
Book Rating : 4.0/5 (4 download)

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Book Synopsis Pension Sustainability in China by : Randong Yuan

Download or read book Pension Sustainability in China written by Randong Yuan and published by Taylor & Francis. This book was released on 2021-11-29 with total page 141 pages. Available in PDF, EPUB and Kindle. Book excerpt: Pension Sustainability in China: Fragmented Administration and Population Aging aims to investigate the impact of fragmentation and population ageing on pension sustainability in China. The book demonstrates how pension sustainability is compromised by various adverse effects produced by fragmentation, such as the moral hazard caused by the disarticulated intergovernmental fiscal responsibility. An overlapping generations (OLG) model is updated with the latest demographic data and is used to assess the impact of population ageing on pension sustainability. The book considers whether adjustment in retirement age can ensure long-term financial sustainability. It explores how, compared to the population ageing, the issues stemming from the fragmentation pose a more insidious threat to pension sustainability in China.

The Handbook of China's Financial System

Author : Marlene Amstad
Publisher : Princeton University Press
ISBN 13 : 0691205841
Total Pages : 504 pages
Book Rating : 4.6/5 (912 download)

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Book Synopsis The Handbook of China's Financial System by : Marlene Amstad

Download or read book The Handbook of China's Financial System written by Marlene Amstad and published by Princeton University Press. This book was released on 2020-11-17 with total page 504 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive, in-depth, and authoritative guide to China's financial system The Chinese economy is one of the most important in the world, and its success is driven in large part by its financial system. Though closely scrutinized, this system is poorly understood and vastly different than those in the West. The Handbook of China’s Financial System will serve as a standard reference guide and invaluable resource to the workings of this critical institution. The handbook looks in depth at the central aspects of the system, including banking, bonds, the stock market, asset management, the pension system, and financial technology. Each chapter is written by leading experts in the field, and the contributors represent a unique mix of scholars and policymakers, many with firsthand knowledge of setting and carrying out Chinese financial policy. The first authoritative volume on China’s financial system, this handbook sheds new light on how it developed, how it works, and the prospects and direction of significant reforms to come. Contributors include Franklin Allen, Marlene Amstad, Kaiji Chen, Tuo Deng, Hanming Fang, Jin Feng, Tingting Ge, Kai Guo, Zhiguo He, Yiping Huang, Zhaojun Huang, Ningxin Jiang, Wenxi Jiang, Chang Liu, Jun Ma, Yanliang Mao, Fan Qi, Jun Qian, Chenyu Shan, Guofeng Sun, Xuan Tian, Chu Wang, Cong Wang, Tao Wang, Wei Xiong, Yi Xiong, Tao Zha, Bohui Zhang, Tianyu Zhang, Zhiwei Zhang, Ye Zhao, and Julie Lei Zhu.

Assessing Chile's Pension System: Challenges and Reform Options

Author : Samuel Pienknagura
Publisher : International Monetary Fund
ISBN 13 : 151359611X
Total Pages : 52 pages
Book Rating : 4.5/5 (135 download)

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Book Synopsis Assessing Chile's Pension System: Challenges and Reform Options by : Samuel Pienknagura

Download or read book Assessing Chile's Pension System: Challenges and Reform Options written by Samuel Pienknagura and published by International Monetary Fund. This book was released on 2021-09-10 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: Chile’s pension system came under close scrutiny in recent years. This paper takes stock of the adequacy of the system and highlights its challenges. Chile’s defined contribution system was quite influential when introduced, and was taken as an example by other countries. However, it is now delivering low replacement rates relative to OECD peers, as its parameters did not adapt over time to changing demographics and global returns, while informality persists in the labor market. In the absence of reforms, the system’s inability to deliver adequate outcomes for a large share of participants will continue to magnify, as demographic trends and low global interest rates will continue to reduce replacement rates. In addition, recent legislation allowing for pension savings withdrawals to counter the effects from the COVID-19 pandemic, is projected to further reduce replacement rates and increase fiscal costs. A substantial improvement in replacement rates is feasible, via a reform that raises contribution rates and the retirement age, coupled with policies that increases workers’ contribution density.

Pension Reform in China

Author : Loraine A. West
Publisher :
ISBN 13 :
Total Pages : 56 pages
Book Rating : 4.E/5 ( download)

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Book Synopsis Pension Reform in China by : Loraine A. West

Download or read book Pension Reform in China written by Loraine A. West and published by . This book was released on 1996 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:

China's Pension System

Author : Jun Peng
Publisher : Routledge
ISBN 13 : 9780367550981
Total Pages : 0 pages
Book Rating : 4.5/5 (59 download)

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Book Synopsis China's Pension System by : Jun Peng

Download or read book China's Pension System written by Jun Peng and published by Routledge. This book was released on 2024-03 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book tells the story of how China has managed to build a national pension system that now covers most of its population and what this system holds for its future.

Pension Reform in China

Author : Steven Vincent Dunaway
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 22 pages
Book Rating : 4.:/5 (318 download)

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Book Synopsis Pension Reform in China by : Steven Vincent Dunaway

Download or read book Pension Reform in China written by Steven Vincent Dunaway and published by International Monetary Fund. This book was released on 2007-05 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: The rapid aging of China's population over the next few decades makes it important for a new pension system with broad and adequate coverage to be put in place quickly. Pension reforms, first initiated in 1997, have become bogged down in difficulties over dealing with the "legacy costs" associated with the relatively more generous benefits provided under the old system. This paper argues that a way forward is to separate the legacy problem from the problem of setting up a new pension system, and it suggests concrete proposals for setting up such a new system which would cover both urban and rural workers.

Social Security and Pension System in China

Author : Francis Mulenga Muma
Publisher : GRIN Verlag
ISBN 13 : 3656248877
Total Pages : 25 pages
Book Rating : 4.6/5 (562 download)

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Book Synopsis Social Security and Pension System in China by : Francis Mulenga Muma

Download or read book Social Security and Pension System in China written by Francis Mulenga Muma and published by GRIN Verlag. This book was released on 2012-07-31 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: Scientific Essay from the year 2011 in the subject Business economics - Miscellaneous, grade: Grade A, , course: Economics, language: English, abstract: Social security is a government program that provides assistance to underprivileged persons. A system corresponding to the level of economic development is a logical requirement for coordinated economic and social development of any country. Initially China’s Social Security system was very poor, even today to some extent it is still bad. China is one of the biggest country with a largest population in the world and its economy being weak at a time, its social security was not well organized, but now the economy is getting stronger and is the second largest economy in the World, second to USA. Within 20 years it is projected to take over from USA. With this development, China needs to organize itself well, as far as social security is concerned. Even though China has tried to put a comprehensive social security system in place, accessibility is still low, as some places such as the rural areas do not have most of social security programs offered to their counterparts in urban areas. Keywords: Financial Liberalization, Integrity of the Market. JEL codes: F31

Implicit Pension Debt, Transition Cost, Options and Impact of China's Pension Reform

Author :
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 52 pages
Book Rating : 4./5 ( download)

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Book Synopsis Implicit Pension Debt, Transition Cost, Options and Impact of China's Pension Reform by :

Download or read book Implicit Pension Debt, Transition Cost, Options and Impact of China's Pension Reform written by and published by World Bank Publications. This book was released on 2001 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: China's population is aging rapidly: the old age dependency ratio will rise from 11 percent in 1999 to 25 percent in 2030 and 36 percent in 2050. Currently, three workers support one retiree; without reform, the system dependency ratio will climb to 69 percent in 2030 and 79 percent in 2050. The pension system has been in deficit, with an implicit pension debt in 2000 as high as 71 percent of GDP. The lack of an effective sustainable pension systemn is a serious obstacle to Chinese economic reform.

Aging in Asia

Author : National Research Council
Publisher : National Academies Press
ISBN 13 : 0309254094
Total Pages : 486 pages
Book Rating : 4.3/5 (92 download)

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Book Synopsis Aging in Asia by : National Research Council

Download or read book Aging in Asia written by National Research Council and published by National Academies Press. This book was released on 2012-07-31 with total page 486 pages. Available in PDF, EPUB and Kindle. Book excerpt: The population of Asia is growing both larger and older. Demographically the most important continent on the world, Asia's population, currently estimated to be 4.2 billion, is expected to increase to about 5.9 billion by 2050. Rapid declines in fertility, together with rising life expectancy, are altering the age structure of the population so that in 2050, for the first time in history, there will be roughly as many people in Asia over the age of 65 as under the age of 15. It is against this backdrop that the Division of Behavioral and Social Research at the U.S. National Institute on Aging (NIA) asked the National Research Council (NRC), through the Committee on Population, to undertake a project on advancing behavioral and social research on aging in Asia. Aging in Asia: Findings from New and Emerging Data Initiatives is a peer-reviewed collection of papers from China, India, Indonesia, Japan, and Thailand that were presented at two conferences organized in conjunction with the Chinese Academy of Sciences, Indian National Science Academy, Indonesian Academy of Sciences, and Science Council of Japan; the first conference was hosted by the Chinese Academy of Social Sciences in Beijing, and the second conference was hosted by the Indian National Science Academy in New Delhi. The papers in the volume highlight the contributions from new and emerging data initiatives in the region and cover subject areas such as economic growth, labor markets, and consumption; family roles and responsibilities; and labor markets and consumption.

Pension Sustainability in China

Author : Yuan Randong
Publisher :
ISBN 13 : 9781032022826
Total Pages : pages
Book Rating : 4.0/5 (228 download)

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Book Synopsis Pension Sustainability in China by : Yuan Randong

Download or read book Pension Sustainability in China written by Yuan Randong and published by . This book was released on 2021 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Historical background and overview of the current system -- Population ageing and pension sustainability in China -- Fragmented administration and pension sustainability in China -- Migrant workers and pension sustainability in China -- Discussion and conclusion references -- Appendix A: interview guides -- Appendix B: calculation for the actuarial present value of buy-in option for the UES.

OECD Reviews of Pension Systems: Portugal

Author : OECD
Publisher : OECD Publishing
ISBN 13 : 9264313737
Total Pages : 164 pages
Book Rating : 4.2/5 (643 download)

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Book Synopsis OECD Reviews of Pension Systems: Portugal by : OECD

Download or read book OECD Reviews of Pension Systems: Portugal written by OECD and published by OECD Publishing. This book was released on 2019-03-20 with total page 164 pages. Available in PDF, EPUB and Kindle. Book excerpt: This review builds on the OECD’s best practices in pension design and provides policy recommendations on how to improve the Portuguese pension system, detailing the Portuguese pension system and its strengths and weaknesses based on cross-country comparisons. The Portuguese pension system ...