Pension Sustainability in China Fragmented Administration and Population Aging
Pension Sustainability in China: Fragmented Administration and Population Aging aims to investigate the impact of fragmentation and population ageing on pension sustainability in China. The book demonstrates how pension sustainability is compromised by various adverse effects produced by fragmentation, such as the moral hazard caused by the disarticulated intergovernmental fiscal responsibility. An overlapping generations (OLG) model is updated with the latest demographic data and is used to assess the impact of population ageing on pension sustainability. The book considers whether adjustment in retirement age can ensure long-term financial sustainability. It explores how, compared to the population ageing, the issues stemming from the fragmentation pose a more insidious threat to pension sustainability in China.
1: Introduction 2: Historical Background and Overview of the Current System 3: Population Ageing and Pension Sustainability in China 4: Fragmented Administration and Pension Sustainability in China 5: Migrant Workers and Pension Sustainability in China 6: Discussion and Conclusion References Appendix A: Interview Guides Appendix B: Calculation for the Actuarial Present Value of Buy-in Option for the UES