Existing literature has looked at many factors which have shaped Chinese pension reforms. As China’s pension reform proceeds in an expanding and localising fashion, this book argues that there is a pressing need to examine it in the context of China’s political institutions and economic transformations. The book takes a unique approach by looking at political institutions of the Chinese state and the changing conditions of the Chinese economy, which rarely receive proper treatment in the current analysis of China’s pension reforms.

Comprehensive reform of China s pension and social security system is an essential element of achieving its objectives of a harmonious society and sustainable development.

Chile’s pension system came under close scrutiny in recent years. This paper takes stock of the adequacy of the system and highlights its challenges. Chile’s defined contribution system was quite influential when introduced, and was taken as an example by other countries. However, it is now delivering low replacement rates relative to OECD peers, as its parameters did not adapt over time to changing demographics and global returns, while informality persists in the labor market. In the absence of reforms, the system’s inability to deliver adequate outcomes for a large share of participants will continue to magnify, as demographic trends and low global interest rates will continue to reduce replacement rates. In addition, recent legislation allowing for pension savings withdrawals to counter the effects from the COVID-19 pandemic, is projected to further reduce replacement rates and increase fiscal costs. A substantial improvement in replacement rates is feasible, via a reform that raises contribution rates and the retirement age, coupled with policies that increases workers’ contribution density.

The Chinese pension system is highly fragmented and decentralized, with governance standards, pension fund management practices, their regulation and supervision varying considerably both across the funded components of the Chinese pension system and across provinces. This paper describes the key components of the system, highlights the progress made to date and identifies remaining weaknesses, in regard to information disclosure, the governance framework and pension fund management standards.

In Socialist Insecurity, Mark W. Frazier explores pension policy in the People's Republic of China, arguing that the government's push to expand pension and health insurance coverage to urban residents and rural migrants has not reduced inequality.

China has quickly moved into a critical point in the sense that its past performance in economic growth and development has created so many unsolved problems, and for such problems to be addressed, a better understanding of these problems and a clear policy framework are required for policy makers to conduct reforms. Based on highOColevel empirical research on China''s economic development by each of the contributors, this edited book provides an in-depth and clear analysis of many of important issues facing China''s move to new phase of economic development and transformation, and discusses policy issues involved in further reforms.

Pension reform is high on the policy agenda of many advanced and emerging market economies. In advanced economies the challenge is generally to contain future increases in public pension spending as the population ages. In emerging market economies, the challenges are often different. Where pension coverage is extensive, the issues are similar to those in advanced economies. Where pension coverage is low, the key challenge will be to expand coverage in a fiscally sustainable manner. This volume examines the outlook for public pension spending over the coming decades and the options for reform in 52 advanced and emerging market economies.

Introduction : the quest for a balanced economic growth and social development - ideas and practices promoting social cohesion in greater China / Ka Ho Mok, Ka Kuen Leung and Yeun Wen Ku -- pt. I. Concepts of social cohesion and policy response. ch. 1. Social cohesive efforts to meet youth development needs in Tin Shui Wai, Hong Kong / Sandra K. M. Tsang and Yiu Kong Chu. ch. 2. In search of harmonious society in China : a social policy response / Kinglun Ngok and Yapeng Zhu. ch. 3. Social cohesion in a divided society : lessons from Taiwan's welfare politics / Yeun Wen Ku. ch. 4. One country, two cities : a comparison of perceived cohesion in Guangzhou and Hong Kong / Simon T. M. Chan, Sammy W. S. Chiu and Marcus Y. L. Chiu -- pt. II. Social change and urban governance. ch. 5. Governing a global city in the context of political transition / Tai Lok Lui. ch. 6. Embracing the market : examining the consequences for education, housing, and health in Chinese cities / Ka Ho Mok ... [et al.]. ch. 7. Urban governance from below : a case study of Kaohsiung, Taiwan / Shiuh Shen Chien and Yeilong Wu -- pt. III. Economic well-being, urban poverty and pension reforms. ch. 8. Elderly poverty and old-age pension reform in Hong Kong : issues and prospects / Ernest Chiu and Lisanne Ko. ch. 9. Is welfare restructuring and economic development in post-1997 Hong Kong in search of a cohesive society? / Maggie Lau and Ka Ho Mok. ch. 10. Economic development and household economic well-being in urban China / Xiulan Zhang, Terry Lum and Yuebin Xu. ch. 11. The fragmentation of the old-age security system : the politics of pension reform in Taiwan / Shih Jiunn Shi.

The 2021 edition of Pensions at a Glance highlights the pension reforms undertaken by OECD countries over the past two years. Moreover, the special chapter focuses on automatic adjustment mechanisms in pensions systems in OECD countries, discusses the usefulness and limitations of these policy instruments, and suggests ways to improve them in order to enhance the capacity of pension systems to fulfil their objectives.

Old age income support will be one of the biggest social and economic challenges facing Asia in the twenty-first century. The growing spotlight on old age income support is largely due to exceptionally rapid population aging which is fundamentally reshaping Asia’s demographic profile. A young continent reaping the demographic dividend of a large youthful workforce is giving way to a greying continent where the ratio of retirees to workers is on the rise. In contrast to industrialized countries, most Asian countries do not yet have mature, well-functioning pension systems. As a result, they are ill prepared to provide economic security for the large number of retirees who loom on the region’s horizon. This book takes a close look at the pension systems of eight countries in East and Southeast Asia – namely, China, Indonesia, Korea, Malaysia, Philippines, Singapore, Thailand and Vietnam – which encompass a wide range of income and development levels. The book provides a comprehensive overview of pension systems in the eight countries, including an in-depth diagnosis to identify their major weaknesses and shortcomings. On the basis of the diagnosis, the book sets forth concrete and specific policy options for reforming Asia’s pension systems. Many policy options for reform are country-specific. For example, a top priority in China is to extend the pension system to rural areas. At the same time, a number of reforms – such as the need to extend coverage – resonate across the entire region. Appropriate reform will enable the region’s pension systems to deliver affordable, adequate and sustainable old-age economic security.