This work highlights two severe difficulties with China's current pension system: the urgent and immediate problem of the pension burden placed on state-owned enterprises; and the longer-term predicament arising from a rapidly ageing population. The study recommends a unified pension system that includes both mandatory funded individual accounts and a social insurance scheme. It also endorses a sustainable contribution rate that attaches considerable importance to long-term financial viability, and examines the risks associated with low compliance rates and low interest rates.
- ISBN10 0821340778
- ISBN13 9780821340776
- Publish Date 30 July 1998
- Publish Status Unknown
- Publish Country US
- Imprint World Bank Publications
- Format Paperback
- Pages 89
- Language English