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Several Issues In Reform And Development Of Chinas Old Age Security System
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Book Synopsis Several Issues in Reform and Development of China's Old-Age Security System by : Yanzhong Wang
Download or read book Several Issues in Reform and Development of China's Old-Age Security System written by Yanzhong Wang and published by . This book was released on 2010 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since China's reform and opening to the outside world, especially since the mid-1990s, China's social security system has undergone a number of reforms and adjustments. We can say that the basic framework of social insurance system had been established, but it is still facing many difficulties such as small coverage, high payment rates, “empty” individual accounts, etc. The question is whether China will choose the proper way from so many suggestions inside and outside China to solve the above issues. I will analyze some important issues on pension reform and old age security system construction and give my own view in this paper.
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.
Book Synopsis Reform and Development of the Old-Age Care System in China by : Aimin Zhou
Download or read book Reform and Development of the Old-Age Care System in China written by Aimin Zhou and published by . This book was released on 2020-08 with total page 296 pages. Available in PDF, EPUB and Kindle. Book excerpt: China is experiencing the most comprehensive and profound institutional change in the history of world social security. The 13th Five-Year Plan of the Central Committee of the Communist Party of China calls for a more equitable and sustainable social security system. That's giving us unlimited power to tell China's old-age story and welcome to the 19th National Congress of the Communist Party of China. In the light of the above considerations, this book was written. As the core content of social security, old-age security has always been the basic people livelihood project that the Communist Party of China and government attach great importance to, and is also the important administrative goal of building a moderately prosperous society. It is necessary to review the evolution of China's old-age security system, sum up the achievements and experience, and look into the development path of the old-age security with Chinese characteristics. This book, on the basis of systematically combing the course of China's old-age security system, summing up the achievements and experience, and putting the pulse of the status quo, actively explores the development path of the cause of old-age security with Chinese characteristics. This book analyzes the development and constraint conditions of the integration of basic old-age security in China from the four dimensions of economy, society, system and technology, this paper, and discusses the reform path and some concrete system integration and convergence of basic old-age security
Book Synopsis Social Security Reform by : Jason Z. Yin
Download or read book Social Security Reform written by Jason Z. Yin and published by World Scientific. This book was released on 2000 with total page 512 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the first-ever book to provide a comprehensive analysis of Chinese social security reforms with a variety of views. It addresses issues such as what kind of social security system China should establish, how this system should be managed and financed, and how the transition from the old system to the new system can best be accomplished. The authors of the papers in this book include internationally renowned Chinese and Western social security experts (such as Martin Feldstein and Henry Aaron), Chinese policy makers, and scholars who have worked on Chinese social security for years.
Book Synopsis How Can China Solve Its Old Age Security Problem? The Interaction Between Pension, SOE and Financial Market Reform by : Estelle James
Download or read book How Can China Solve Its Old Age Security Problem? The Interaction Between Pension, SOE and Financial Market Reform written by Estelle James and published by . This book was released on 2003 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Like most countries, China faces a rapidly aging population. In fact, China is aging more rapidly than practically any other country. In 1990 only 9% of China's population was over the age of 65, but by 2030 this proportion will more than double, to 22%. More than a quarter of the world's old people will live in China by 2030. And the absolute number of workers will actually decline, as fertility rates are below replacement levels. While population aging is a long run phenomenon, it has become apparent even in the short run, as social security deficits become larger and more widespread every year. Moreover, these rapidly expanding pension obligations are especially troublesome in China because, until recently, they were a liability of state enterprises and a major obstacle to enterprise restructuring. The Chinese government is well aware of the looming social security crisis and is determined to do something about it. Prefunding and unifying a fragmented system are at the heart of its projected reforms. The plan is to set up individual accounts for each worker, with funds that are productively invested. This is similar to reforms that have been sweeping Latin America, Eastern Europe and are now being considered in the United States. Besides making the system more fiscally sustainable and avoiding peak contribution rates, prefunding can be used to increase saving that is committed for long term investments and pension funds can be used as engines of financial market development and corporate governance. However, in China these reforms are retarded by three key factors: 1) transition costs must be covered in any move toward prefunding, and the Chinese government is still trying to figure out how to accomplish this; 2) the current social security system is characterized by fragmentation and decentralized administration, which lead to principal-agent/moral hazard issues that make it more difficult to cover transition costs, decrease early retirement and increase compliance; 3) the funds that have accumulated have not been invested in diversified portfolios by private competitive management and have not earned a high rate of return. This paper focuses on these three problems as well as the complex interactions between pension, financial market and SOE reform. Part I describes the historical background of old age security in China - how it was provided during the cultural revolution, how this became inappropriate as China moved toward a market economy, and the steps that were taken by the government during the 1980's and early 1990's to resolve this inconsistency. Part II describes the new multi-pillar system, including a large prefunded defined contribution component, which was adopted, in principle, in the mid-1990's. Part III analyzes three key implementation problems that remain to be solved - the transition cost conundrum, the tensions inherent in unifying a fragmented system, and the difficulty in as well as the critical importance of investing productively and earning a high rate of return on the funds. We summarize the bold steps that the government has announced during the past few months (2001) to link pension, financial market and SOE reform. How these plans will be effectuated remains to be seen.
Book Synopsis From Status-Based Privilege to Old Age Security by : Qian Hao
Download or read book From Status-Based Privilege to Old Age Security written by Qian Hao and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Pension reform poses a formidable challenge to China's development and has become a topic of intensive debate in recent years. Nonetheless, various reform measures based on legislations adopted since the 1980s have largely failed to be implemented, including the 1997 three-pillar pension plan. While the current debate on pension reform in China centers on how to address the financial crisis of the public pension system, this article argues that widening pension deficit has been only a symptom rather than the root cause of the reform stalemate. China's old socialist pension benefits were developed as a status-based privilege rather than provision of old age economic security. As China transits from a centrally planned economy to a market economy, the old pension system has increasingly become inadequate and inequitable. The remaining socialist pension obligations are incompatible with the emerging market, and the majority of the population is exposed to market risks without protection in retirement. However, those structural challenges have not been successfully addressed by deficit-driven reform plans or short-sighted measures that focus on having current workers pay for the heavy cost of pensions for retirees under the previous system. The right reform strategy will require that efforts be redirected towards addressing the fundamental transition issues.
Book Synopsis The Development of Security and Whole Care System for the Aged in China by : Yanzhong Wang
Download or read book The Development of Security and Whole Care System for the Aged in China written by Yanzhong Wang and published by Springer. This book was released on 2017-10-25 with total page 365 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines the process of population aging in China and its unique features, considers the social progress implied in China becoming a society with an aging population, and assesses the tremendous risks and challenges involved. Based on the development of pension security systems around the world, the book studies the status quo and future requirements of the Chinese pension security system from the perspectives of capital, service and spirit, and puts forwards a three-pillar pension security system that is in conformity with China’s current situation – and reflects the developmental trend that, in future, social security will likely transform from material security into comprehensive security. In addition, the book analyzes the Chinese pension security system. While integrating international perspectives, its main focus is on statistical analysis, combining theory with practice, and qualitative with quantitative analysis. As such, the book not only offers a “wi ndow” for the world on the status and evolution of China’s pension security system, but also an opportunity for international academic dialogues.
Book Synopsis Old Age Security Reform in China by :
Download or read book Old Age Security Reform in China written by and published by . This book was released on 1995 with total page 4 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis China's Urban and Rural Old Age Security System by : Dewen Wang
Download or read book China's Urban and Rural Old Age Security System written by Dewen Wang and published by . This book was released on 2005 with total page 17 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper introduces the development and situation of urban and rural old age security system in China, and discusses the challenges and options in the process of constructing a sustained old age security system. China's pension system now has a high coverage rate for urban workers, but a low coverage rate for rural farmers. Funding gap and empty individual accounts have imposed a heavy burden on the sustainability of urban pension system. The more severe age wave and lower income in rural area pose challenges to the vulnerable rural household support system. The separation of old age security system between rural and urban areas also puts great pressure on the urbanization of landless farmers. Therefore, it is urgent for China to speed up the reform of its old age security system to provide an institutional support for its smooth economic and social transition.
Book Synopsis China's Healthcare System and Reform by : Lawton Robert Burns
Download or read book China's Healthcare System and Reform written by Lawton Robert Burns and published by Cambridge University Press. This book was released on 2017-01-26 with total page 744 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume provides a comprehensive review of China's healthcare system and policy reforms in the context of the global economy. Following a value-chain framework, the 16 chapters cover the payers, the providers, and the producers (manufacturers) in China's system. It also provides a detailed analysis of the historical development of China's healthcare system, the current state of its broad reforms, and the uneasy balance between China's market-driven approach and governmental regulation. Most importantly, it devotes considerable attention to the major problems confronting China, including chronic illness, public health, and long-term care and economic security for the elderly. Burns and Liu have assembled the latest research from leading health economists and political scientists, as well as senior public health officials and corporate executives, making this book an essential read for industry professionals, policymakers, researchers, and students studying comparative health systems across the world.
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 2013-03-08 with total page 264 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.
Book Synopsis How Can China Provide Income Security for Its Rapidly Aging Population?. by : Estelle James
Download or read book How Can China Provide Income Security for Its Rapidly Aging Population?. written by Estelle James and published by . This book was released on 1999 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: October 1996 If China implements a partially funded multipillar pension system, that reform must go hand-in-hand with reform of the financial sector and restructured investment procedures that emphasize the right mix of competition, diversification, and regulation. Otherwise, pension reform will ultimately fail. Friedman, James, Kane, and Queisser discuss key choices policymakers face about China's pension system in the face of a rapidly aging population. (Many developing countries face the same problem, but China's problems are exacerbated by the long-term effects of its one-child family planning policy.) They describe the problems the current pay-as-you-go system faces in the near and long term and simulate policy options for solving those problems. They find that simple design changes - such as reducing the generous benefit rate, moving toward price indexing rather than wage indexing, and raising the retirement age - are necessary but not sufficient conditions for making the pension system sustainable. Partial funding is necessary to avoid large increases in future contribution rates. They investigate the impact on the old-age system and economic growth of a multipillar system that includes a modest mandatory tax-financed basic benefit plus a mandatory fully-funded defined-contribution (individual account) scheme. Implementation of a partially funded multipillar pension system must go hand-in-hand with reform of the financial sector and restructured investment procedures that emphasize the right mix of competition, diversification, and regulation. Otherwise, China's pension reform will ultimately fail. This paper - a product of the Poverty and Human Resources Division, Policy Research Department - is part of a larger effort in the department to analyze the impact of pension systems and pension reform.
Book Synopsis Pension Systems and Old-Age Income Support in East and Southeast Asia by : Donghyun Park
Download or read book Pension Systems and Old-Age Income Support in East and Southeast Asia written by Donghyun Park and published by Routledge. This book was released on 2012-03-15 with total page 283 pages. Available in PDF, EPUB and Kindle. Book excerpt: Old age income support will be one of the biggest social and economic challenges facing Asia in the twenty-first century. The growing spotlight on old age income support is largely due to exceptionally rapid population aging which is fundamentally reshaping Asia’s demographic profile. A young continent reaping the demographic dividend of a large youthful workforce is giving way to a greying continent where the ratio of retirees to workers is on the rise. In contrast to industrialized countries, most Asian countries do not yet have mature, well-functioning pension systems. As a result, they are ill prepared to provide economic security for the large number of retirees who loom on the region’s horizon. This book takes a close look at the pension systems of eight countries in East and Southeast Asia – namely, China, Indonesia, Korea, Malaysia, Philippines, Singapore, Thailand and Vietnam – which encompass a wide range of income and development levels. The book provides a comprehensive overview of pension systems in the eight countries, including an in-depth diagnosis to identify their major weaknesses and shortcomings. On the basis of the diagnosis, the book sets forth concrete and specific policy options for reforming Asia’s pension systems. Many policy options for reform are country-specific. For example, a top priority in China is to extend the pension system to rural areas. At the same time, a number of reforms – such as the need to extend coverage – resonate across the entire region. Appropriate reform will enable the region’s pension systems to deliver affordable, adequate and sustainable old-age economic security.
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.
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.
Book Synopsis Providing Greater Old-Age Security in China by : Richard Herd
Download or read book Providing Greater Old-Age Security in China written by Richard Herd and published by . This book was released on 2010 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Learning from SARS by : Institute of Medicine
Download or read book Learning from SARS written by Institute of Medicine and published by National Academies Press. This book was released on 2004-04-26 with total page 376 pages. Available in PDF, EPUB and Kindle. Book excerpt: The emergence of severe acute respiratory syndrome (SARS) in late 2002 and 2003 challenged the global public health community to confront a novel epidemic that spread rapidly from its origins in southern China until it had reached more than 25 other countries within a matter of months. In addition to the number of patients infected with the SARS virus, the disease had profound economic and political repercussions in many of the affected regions. Recent reports of isolated new SARS cases and a fear that the disease could reemerge and spread have put public health officials on high alert for any indications of possible new outbreaks. This report examines the response to SARS by public health systems in individual countries, the biology of the SARS coronavirus and related coronaviruses in animals, the economic and political fallout of the SARS epidemic, quarantine law and other public health measures that apply to combating infectious diseases, and the role of international organizations and scientific cooperation in halting the spread of SARS. The report provides an illuminating survey of findings from the epidemic, along with an assessment of what might be needed in order to contain any future outbreaks of SARS or other emerging infections.
