Pension System Reform: International Experience and Insights

Hanyue Zhang; Xianglei Duan

doi:10.54097/fbem.v9i1.8402

Authors

Hanyue Zhang
Xianglei Duan

DOI:

https://doi.org/10.54097/fbem.v9i1.8402

Keywords:

Social security system, Pension system, International experience, Pension insurance, Reform.

Abstract

The purpose of this paper is to analyze and conduct a comparative study of pension system reforms in the international arena in order to obtain experiences and insights from the pension system reforms in various countries. After introducing the basic concepts and current status of pension systems, this paper reviews the history of pension system reform in the international arena and analyzes the reform measures, policy effectiveness, and problems and challenges of different countries. By comparing and summarizing the international experiences and insights, this paper provides references and inspirations for the future pension system reform in China. The study finds that the effectiveness of pension system reform measures and policies varies across countries, but in general can be summarized in four directions: gradually raising the retirement age, increasing personal responsibility, increasing funding sources, and improving administrative efficiency. In addition, there are some common problems and challenges in pension system reforms in different countries, such as political difficulties, social stability, funding gaps, and overly conservative policies. In order to solve these problems, governments need to take into account national conditions and actual situations and adopt reform measures that meet the characteristics and realities of their countries. Comparing the experience and inspiration of international pension system reform, we can find that: firstly, it is necessary to adhere to the people-oriented principle and focus on protecting the basic rights and interests of individuals; secondly, it is necessary to strengthen the institutional guarantee of policies and laws to ensure the continuity and stability of policies; thirdly, it is necessary to play the role of market mechanism to increase the funding source of pensions; fourthly, it is necessary to strengthen the supervision and management of the government to improve the management efficiency. These experiences and inspirations are useful for China's future pension system reform.

Downloads

Download data is not yet available.

Metrics

Metrics Loading ...

References

National Social Security Fund (NSSF) loan to Uganda Clays illegal-Uganda Retirement Benefits Regulatory Authority (URBRA)." M2 Presswire . (2023).

Pay your pension some attention." British Dental Journal 233.9(2022). doi:10.1038/S41415-022-5249-8.

These are the best industries to work in for your pension." M2 Presswire . (2022).

М.А.Ivanova, Zhang Guangxiang,and Liu Yanqing." Pension systems and labor force motivation:the example of national experience." Social Science Front .07(2020):67-79+2.

Wang, Juan." French retirement system reform will affect the method of calculating teachers' pensions." World Education Information 33.02(2020):76.

Ivanova (Ivanova Tamara). Research on the reform of the Russian pension security system in the context of population aging.2016.Northeastern University,MA thesis.

Li Zhichao. Research on the reform of pension and pension system convergence.2015.Yanshan University,MA thesis.

Jiang R." Research on civil service pension reform." China Market .34 (2015):185-186. doi:10.13939/j.cnki.zgsc.2015.34.185.

Huang, Guan." Changes and comparison of urban pension systems in China after the reform." Reform and Strategy 31.01 (2015): 42-52+104. doi:10.16331/j.cnki.issn1002-736x.2015.01.008.

Wang Yulin. Research on the development of urban-rural integration of social pension insurance in China.2014.Wuhan University,PhD dissertation.

Wang Ling." Exploration on the reform of China's dual-track pension system." Modern Economic Information .01(2014):15.

He Nong." The road to pension system reform is difficult" Guangming Daily 2003-05-15.

Wang X." The U.S. Federal Government Employees' Pension System and Implications for China's Reform." Economic Research Reference .89 (2003): 12-21. doi:10.16110/j.cnki.issn2095-3151.2003.89.002.

Е.Б.Kaloeva, I.D.." On the issue of reform of the pension system - a review of information analysis." Foreign Social Sciences .05(2000):53-61.

Lu, W. " A preliminary study of enterprise pension system reform." East China Economic Management .03(1991):85+83. doi:10.19629/j.cnki.34-1014/f.1991.03.028.