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Valuing The Chinese Reimbursement System Of The Retirement Pension Insurance For Urban Employees

Author

Listed:
  • Yue Guo

    (Nan Jing University & Ningbo University of Technology, China)

  • Lailei Lou

    (Ningbo University of Technology, China)

  • Tailai Guo

    (Huizhen Academic School, China)

  • Zuwei Yu

    (Ningbo University of Technology, China)

Abstract

This study investigates the funding and implementation of China's reformed pension system, particularly the impact of population aging on the system and the government’s recessive debt on pensions. We performed a literature review of relevant publications on the pension system in China as well as similar systems abroad. We also performed an in-depth analysis of the pension insurance fund in China’s Zhejiang province, based on available data from 2001 through 2014. Using a time series ARIMA forecasting model and a comprehensive prediction model, in conjunction with theories from economics, statistics and sociology, we tried to establish the implicit pension debt (IPD) for Zhejiang and determine the pension payment feasibility for the next 15 years. We use our findings to explain the current problems with the pension system in Zhejiang and offer suggestions for improvement.

Suggested Citation

  • Yue Guo & Lailei Lou & Tailai Guo & Zuwei Yu, 2017. "Valuing The Chinese Reimbursement System Of The Retirement Pension Insurance For Urban Employees," Eurasian Journal of Social Sciences, Eurasian Publications, vol. 5(2), pages 34-52.
    • Handle: RePEc:ejn:ejssjr:v:5:y:2017:i:2:p:34-52
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    References listed on IDEAS

    as
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