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Potential outcomes of private pension developments in China

Author

Listed:
  • Javier Alonso
  • Miguel Angel Caballero
  • Li Hui
  • Claudia Llanes Valenzuela
  • David Tuesta
  • Yuwei Hu
  • Yun Cao

Abstract

Despite the fact that China is already one of the most important economies in the world, the country has many big tasks to solve, being one of them the implementation of a comprehensive social agenda, including those related with the old-age stage and the consequently diminishing financial resources upon retirement from active work.. Taking into account the accelerated changes in fertility and longevity trends, it is widely forecasted that the absence of a well developed safety net for the old age stage could undermine economic and social sustainability of the Chinese society. In this sense, the main objective of this paper is to develop a preliminary discussion about prospects of pension system in China, taking into account the ineludible role of government in this social issue and the active potential participation of the private sector. Considering that, this piece of research provides a historical background of Chinese pension; discusses the existing pension schemes in China in order to understand the different areas of future developments; analyzes the potential market for contributory schemes; and strives to develop a model to forecast likely outcomes of the social insurance system by 2020.

Suggested Citation

  • Javier Alonso & Miguel Angel Caballero & Li Hui & Claudia Llanes Valenzuela & David Tuesta & Yuwei Hu & Yun Cao, 2011. "Potential outcomes of private pension developments in China," Working Papers 1133, BBVA Bank, Economic Research Department.
    • Handle: RePEc:bbv:wpaper:1133
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    References listed on IDEAS

    as
    1. Angel De la Fuente & Jose Emilio Bosca, 2011. "Gasto educativo por regiones y niveles en 2005," Working Papers 1119, BBVA Bank, Economic Research Department.
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    Cited by:

    1. Anping Chen & Nicolaas Groenewold, 2017. "An increase in the retirement age in China: the regional economic effects," Applied Economics, Taylor & Francis Journals, vol. 49(7), pages 702-721, February.

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    More about this item

    Keywords

    Other Private Financial Institutions; Pension Funds; Social Security; Public Pensions;
    All these keywords.

    JEL classification:

    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors

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