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Social Security Pension Reform in China

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  • Feldstein, Martin

Abstract

China has legislated a mixed social security pension system with a defined benefit pay-as-you-go portion and an investment-based defined contribution portion. This paper analyses the economics of these two types of systems in the Chinese context and calculates the advantage to China of using an investment-based portion. Several options for reform of the recently legislated system are considered.

Suggested Citation

  • Feldstein, Martin, 1999. "Social Security Pension Reform in China," Scholarly Articles 2794835, Harvard University Department of Economics.
    • Handle: RePEc:hrv:faseco:2794835
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    References listed on IDEAS

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    1. Aidi Hu, 1997. "Reforming China's social security system: Facts and perspectives," International Social Security Review, John Wiley & Sons, vol. 50(3), pages 45-65, July.
    2. Hussain, Athar, 1994. "Social Security in Present-Day China and Its Reform," American Economic Review, American Economic Association, vol. 84(2), pages 276-280, May.
    3. Martin Feldstein, 1998. "Introduction to "Privatizing Social Security"," NBER Chapters, in: Privatizing Social Security, pages 1-29, National Bureau of Economic Research, Inc.
    4. Paul A. Samuelson, 1958. "An Exact Consumption-Loan Model of Interest with or without the Social Contrivance of Money," Journal of Political Economy, University of Chicago Press, vol. 66(6), pages 467-467.
    5. Feldstein, Martin & Liebman, Jeffrey B., 2002. "Social security," Handbook of Public Economics, in: A. J. Auerbach & M. Feldstein (ed.), Handbook of Public Economics, edition 1, volume 4, chapter 32, pages 2245-2324, Elsevier.
    6. Martin Feldstein & Andrew Samwick, 1998. "The Transition Path in Privatizing Social Security," NBER Chapters, in: Privatizing Social Security, pages 215-264, National Bureau of Economic Research, Inc.
    7. Gregory C. Chow, 1993. "Capital Formation and Economic Growth in China," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 108(3), pages 809-842.
    8. Martin Feldstein & Andrew Samwick, 1997. "The Economics of Prefunding Social Security and Medicare Benefits," NBER Chapters, in: NBER Macroeconomics Annual 1997, Volume 12, pages 115-164, National Bureau of Economic Research, Inc.
    9. Feldstein, Martin (ed.), 1998. "Privatizing Social Security," National Bureau of Economic Research Books, University of Chicago Press, edition 1, number 9780226241012, September.
    10. Shunfeng Song & George S‐F Chu, 1997. "Social Security Reform In China: The Case Of Old‐Age Insurance," Contemporary Economic Policy, Western Economic Association International, vol. 15(2), pages 85-93, April.
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    More about this item

    JEL classification:

    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions

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