docSocial Security Reform in China
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Social Security Reform in China
Un nuevo milenio, un nuevo reto actuarial A new millenium, a new challenge for actuaries Un nouveau millénaire, un nouveau défi pour les actuaires SocialSecurity R eform in C hina B ackground 2 Size and diversity 3 Pre-1997 form ula 4 U rban W orkers Pensions 5 State C ouncilD ocum ent26 July 1997 6 3 Pillar Structure ( 7 Im m ediate R eform Targets 8 Prescribed U nified Form ula 9 C hina Pillar I,II,III 50 45 40 35 30 25 20 15 10 5 0 Social pool Half Average Individual Accounts Average Wages Two x Average 11 Target II & III Four x Average The transition 11 Structure for B asic Pillar 12 Financing the Socialpool 13 Policy options 14 The im possible 11% D C 15 R eform O ptions for N D C accounts 16
