China,already possessing a large number of retirees,will become one of the countries with a predominant-ly aged population by the end of the century.A retirement boom is ex-pected for the year 2030,when China will hav...China,already possessing a large number of retirees,will become one of the countries with a predominant-ly aged population by the end of the century.A retirement boom is ex-pected for the year 2030,when China will have over 100 million senior citizens living on an annual pension of billions of yuan.There-fore China is working to legislate a Chinese style social insurance system by the year 2000.This system will be independent of enterprises and cov-er workers in both rural and urban areas.It will be reasonable in its.expenditures because its funding will come from a wide range of sources.It will make a balanced and rational use of these funds and will be run by a highly socialized and coordinated administration.展开更多
The present paper reviews the social security pilot in Jilin and Hei Longjiang that was carried out between 2004 and 2005. The pilot in the two provinces has basically achieved its main objectives, but there are still...The present paper reviews the social security pilot in Jilin and Hei Longjiang that was carried out between 2004 and 2005. The pilot in the two provinces has basically achieved its main objectives, but there are still some unsolved problems, the most severe being lack of effective investment of the funds accumulated by individual accounts. During periods of high economic growth and high growth in average wages, this problem might undermine the partially-funded security system. To this end, the paper makes some suggestions, one of which is to introduce the notional defined contribution system.展开更多
This paper analyzes institutional defects in the Chinese social security system, based on irregularities in social security funds revealed in the Audit Report by the China National Audit Offce. The author divides the ...This paper analyzes institutional defects in the Chinese social security system, based on irregularities in social security funds revealed in the Audit Report by the China National Audit Offce. The author divides the irregularities into five categories according to the nature of fimd use. The results show that the institutional root cause of the irregularities lies in the unreasonable design and operation of the social security system, which currently faces management and institutional risks, This paper argues that simple rhetoric about strengthening regulation and supervision cannot help to reduce illegal practices, or to realize risk control. The only solution is to reform the social security system. Specifically, the Chinese Government should regulate the administrative cost of the social security system, and the behavior of its agencies, through legislation, reform the investment regime to increase rate of return of pension assets, and adjust and reshape the existing social security system, so as to elevate its pooling level.展开更多
文摘China,already possessing a large number of retirees,will become one of the countries with a predominant-ly aged population by the end of the century.A retirement boom is ex-pected for the year 2030,when China will have over 100 million senior citizens living on an annual pension of billions of yuan.There-fore China is working to legislate a Chinese style social insurance system by the year 2000.This system will be independent of enterprises and cov-er workers in both rural and urban areas.It will be reasonable in its.expenditures because its funding will come from a wide range of sources.It will make a balanced and rational use of these funds and will be run by a highly socialized and coordinated administration.
文摘The present paper reviews the social security pilot in Jilin and Hei Longjiang that was carried out between 2004 and 2005. The pilot in the two provinces has basically achieved its main objectives, but there are still some unsolved problems, the most severe being lack of effective investment of the funds accumulated by individual accounts. During periods of high economic growth and high growth in average wages, this problem might undermine the partially-funded security system. To this end, the paper makes some suggestions, one of which is to introduce the notional defined contribution system.
文摘This paper analyzes institutional defects in the Chinese social security system, based on irregularities in social security funds revealed in the Audit Report by the China National Audit Offce. The author divides the irregularities into five categories according to the nature of fimd use. The results show that the institutional root cause of the irregularities lies in the unreasonable design and operation of the social security system, which currently faces management and institutional risks, This paper argues that simple rhetoric about strengthening regulation and supervision cannot help to reduce illegal practices, or to realize risk control. The only solution is to reform the social security system. Specifically, the Chinese Government should regulate the administrative cost of the social security system, and the behavior of its agencies, through legislation, reform the investment regime to increase rate of return of pension assets, and adjust and reshape the existing social security system, so as to elevate its pooling level.
