Ebook200 pages5 hours
China's Pension System: A Vision
By Mark C. Dorfman, Robert Holzmann, Philip O'Keefe and
Rating: 0 out of 5 stars
()
About this ebook
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.
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.
Related to China's Pension System
Related ebooks
Nonfinancial Defined Contribution Pension Schemes in a Changing Pension World: Volume 1, Progress, Lessons, and Implementation Rating: 0 out of 5 stars0 ratingsThe Inverting Pyramid Rating: 0 out of 5 stars0 ratingsThe Inverting Pyramid: Pension Systems Facing Demographic Challenges in Europe and Central Asia Rating: 0 out of 5 stars0 ratingsSocial Security: A Fresh Look at Policy Alternatives Rating: 0 out of 5 stars0 ratingsElite Capture Rating: 0 out of 5 stars0 ratingsSocial Protection Program Spending and Household Welfare in Ghana Rating: 0 out of 5 stars0 ratingsThe Elderly and Old Age Support in Rural China Rating: 0 out of 5 stars0 ratingsMatching Contributions for Pensions: A Review of International Experience Rating: 0 out of 5 stars0 ratingsPower for All Rating: 0 out of 5 stars0 ratingsBudget Rigidity in Latin America and the Caribbean: Causes, Consequences, and Policy Implications Rating: 0 out of 5 stars0 ratings
Public Policy For You
Just Mercy: a story of justice and redemption Rating: 5 out of 5 stars5/5Chasing the Scream: The Inspiration for the Feature Film "The United States vs. Billie Holiday" Rating: 4 out of 5 stars4/5Dreamland: The True Tale of America's Opiate Epidemic Rating: 4 out of 5 stars4/5Dumbing Us Down - 25th Anniversary Edition: The Hidden Curriculum of Compulsory Schooling Rating: 4 out of 5 stars4/5The Art of War Rating: 4 out of 5 stars4/5The Madness of Crowds: Gender, Race and Identity Rating: 4 out of 5 stars4/5The People's Hospital: Hope and Peril in American Medicine Rating: 4 out of 5 stars4/5The Price We Pay: What Broke American Health Care--and How to Fix It Rating: 4 out of 5 stars4/5Bowling Alone: Revised and Updated: The Collapse and Revival of American Community Rating: 4 out of 5 stars4/5Capital in the Twenty-First Century Rating: 4 out of 5 stars4/5No Visible Bruises: What We Don’t Know About Domestic Violence Can Kill Us Rating: 5 out of 5 stars5/5The Affluent Society Rating: 4 out of 5 stars4/5Talking to My Daughter About the Economy: or, How Capitalism Works--and How It Fails Rating: 4 out of 5 stars4/5Doughnut Economics: Seven Ways to Think Like a 21st-Century Economist Rating: 4 out of 5 stars4/5How to Blow Up a Pipeline: Learning to Fight in a World on Fire Rating: 4 out of 5 stars4/5When Harry Became Sally: Responding to the Transgender Moment Rating: 3 out of 5 stars3/5America: The Farewell Tour Rating: 4 out of 5 stars4/5The Diversity Delusion: How Race and Gender Pandering Corrupt the University and Undermine Our Culture Rating: 4 out of 5 stars4/5Men without Work: Post-Pandemic Edition (2022) Rating: 5 out of 5 stars5/5Not Too Late: Changing the Climate Story from Despair to Possibility Rating: 3 out of 5 stars3/5Against Empathy: The Case for Rational Compassion Rating: 3 out of 5 stars3/5Love Your Enemies: How Decent People Can Save America from the Culture of Contempt Rating: 5 out of 5 stars5/5The Least of Us: True Tales of America and Hope in the Time of Fentanyl and Meth Rating: 4 out of 5 stars4/5Apocalypse Never: Why Environmental Alarmism Hurts Us All Rating: 4 out of 5 stars4/5The Great Displacement: Climate Change and the Next American Migration Rating: 4 out of 5 stars4/5Reefer Madness: Sex, Drugs, and Cheap Labor in the American Black Market Rating: 4 out of 5 stars4/5Tell Your Children: The Truth About Marijuana, Mental Illness, and Violence Rating: 3 out of 5 stars3/5No More Police: A Case for Abolition Rating: 5 out of 5 stars5/5The Truth About COVID-19: Exposing The Great Reset, Lockdowns, Vaccine Passports, and the New Normal Rating: 3 out of 5 stars3/5
Reviews for China's Pension System
Rating: 0 out of 5 stars
0 ratings
0 ratings0 reviews
Book preview
China's Pension System - Mark C. Dorfman
Enjoying the preview?
Page 1 of 1