Social Security Pension Reform in China
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.
Published: Feldstein, Martin. "Social Security Pension Reform In China," China Economic Review, 1999, v10(2,Jun), 99-107.