This paper reviews the development of the urban and rural old age security system in China, and discusses the challenges in the process of constructing a sustained old age security system. Althoughfunding gaps and emp...This paper reviews the development of the urban and rural old age security system in China, and discusses the challenges in the process of constructing a sustained old age security system. Althoughfunding gaps and empty individual accounts have imposed a heavy burden on the sustainability of China ＇s urban pension system, there is a relatively high coverage rate of 35.3 percent for urban workers. However, China＇s pension system provides low coverage ratefor rural farmers. The more rapidly aging population and lower incomes in rural areas pose challenges to the vulnerable rural househoM support system. The separation of the oM age security system between rural and urban areas also puts great pressure as a result of urbanization on farmers who lose their farmland. Therefore, it is urgent for China to speed up the reform o fits old age security system to provide an institutional support for its economic and social transition.展开更多
文摘This paper reviews the development of the urban and rural old age security system in China, and discusses the challenges in the process of constructing a sustained old age security system. Althoughfunding gaps and empty individual accounts have imposed a heavy burden on the sustainability of China ＇s urban pension system, there is a relatively high coverage rate of 35.3 percent for urban workers. However, China＇s pension system provides low coverage ratefor rural farmers. The more rapidly aging population and lower incomes in rural areas pose challenges to the vulnerable rural househoM support system. The separation of the oM age security system between rural and urban areas also puts great pressure as a result of urbanization on farmers who lose their farmland. Therefore, it is urgent for China to speed up the reform o fits old age security system to provide an institutional support for its economic and social transition.
