The social security system in the People's Republic of China is experiencing dramatic changes. This paper examines the characteristics of the pre‐reform social security system in the People's Republic of China with respect to the old‐age insurance, discusses and comments on the recent efforts towards old‐age insurance reform, and proposes recommendations for the current reform, such as raising the official retirement ages, changing funding system, and investing pension funds to appreciate their values.
No takes yet. Share an insight, caveat, or question.
Song et al. (1997) studied this question.