Building a Trinity Pension Security System in China: A Preliminary Framework
Abstract
China’s pension security system has evolved from the family-supporting stage to the one witnessing the weakening family support and the budding social pension system. At present it is still in the early stage of rapid development. Overall, the Chinese pension security system has made remarkable achievements and played an important role in securing the basic livelihood of the elderly, maintaining social stability and promoting economic development. However, this system, far from perfect, cannot meet the need of an aging population, confronts many problems, and sees prominent contradictions between the various needs of elderly people and insufficient supply. “Getting old before getting rich”, changes in family structure, acceleration of urbanization and changes in labor market all bring new challenges to the development of the pension security system.
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