Publication:
The Notional and the Real in China’s Pension Reforms

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dc.contributor.authorLu, Bei
dc.contributor.authorPiggott, John
dc.contributor.authorZheng, Bingwen
dc.date.accessioned2019-05-07T15:35:32Z
dc.date.available2019-05-07T15:35:32Z
dc.date.issued2019-04
dc.description.abstractThis paper discusses the potential expansion of the role of the notional defined contribution (NDC) paradigm in the ongoing reforms of retirement provision in China. It finds that mature age life expectancy is remarkably uniform among formal sector workers at the time of retirement, although greater heterogeneity does exist for Rural and Urban Residents Pension Scheme members. The implications of a stylized NDC structure are examined covering China’s major pension systems, calibrated to be actuarially neutral. Each system has a different contribution rate and retirement age, consistent with different life expectancies. A complementary social pension is also proposed. The paper concludes that an increased presence of the NDC paradigm has the potential to raise aggregate welfare.en
dc.identifierhttp://documents.worldbank.org/curated/en/863091556877462257/The-Notional-and-the-Real-in-China-s-Pension-Reforms
dc.identifier.doi10.1596/31645
dc.identifier.urihttps://hdl.handle.net/10986/31645
dc.languageEnglish
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesSocial Protection and Jobs Discussion Paper,no. 1921;
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.subjectPENSION REFORM
dc.subjectNOTIONALLY DEFINED CONTRIBUTION
dc.subjectNOTIONAL DEFINED CONTRIBUTION
dc.subjectLIFE EXPECTANCY
dc.titleThe Notional and the Real in China’s Pension Reformsen
dc.typeWorking Paperen
dc.typeDocument de travailfr
dc.typeDocumento de trabajoes
dspace.entity.typePublication
okr.crossref.titleThe Notional and the Real in China’s Pension Reforms
okr.date.disclosure2019-05-03
okr.doctypePublications & Research
okr.doctypePublications & Research::Working Paper
okr.docurlhttp://documents.worldbank.org/curated/en/863091556877462257/The-Notional-and-the-Real-in-China-s-Pension-Reforms
okr.guid863091556877462257
okr.identifier.doi10.1596/31645
okr.identifier.externaldocumentum090224b086c38267_1_0
okr.identifier.internaldocumentum31029485
okr.identifier.report136542
okr.importedtrueen
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/863091556877462257/pdf/The-Notional-and-the-Real-in-China-s-Pension-Reforms.pdfen
okr.region.administrativeEast Asia and Pacific
okr.region.countryChina
okr.topicSocial Protections and Labor::Pensions & Retirement Systems
okr.unitSocial Protection & Labor Global (GSPGL)
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