Pension Reform in China: The Need for a New Approach

 
Author/Editor: Dunaway, Steven Vincent ; Arora, Vivek B.
 
Publication Date: May 01, 2007
 
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Disclaimer: This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate
 
Summary: 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.
 
Series: Working Paper No. 07/109
Subject(s): Pension funds | China

Author's Keyword(s): Public pensions | China
 
English
Publication Date: May 01, 2007
ISBN/ISSN: 1934-7073 Format: Paper
Stock No: WPIEA2007109 Pages: 15
Price:
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