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The notional and the real in China’s pension reforms

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dc.contributor.author Lu, Bei
dc.contributor.author Piggott, John
dc.contributor.author Zheng, Bingwen
dc.date.accessioned 2019-08-01T12:11:20Z
dc.date.available 2019-08-01T12:11:20Z
dc.date.issued 2019-08-01
dc.identifier.citation Lu B., Piggott J., Zheng B.,(2019) The notional and the real in China’s pension reforms, Roma, INAPP, WP, n. 32 <https://oa.inapp.org/xmlui/handle/20.500.12916/469> en_US
dc.identifier.uri https://oa.inapp.org/xmlui/handle/20.500.12916/469
dc.description.abstract This 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_US
dc.language.iso en en_US
dc.subject Pensione en_US
dc.subject Previdenza en_US
dc.title The notional and the real in China’s pension reforms en_US
dc.type Working Paper en_US
dc.type.relation Working Paper;


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