@article{ART003117625},
author={Zhu Kai},
title={Measures to Improve China’s old-age Pension System through Analysis of the Current Status of old-age Pension Systems in Major Overseas Countries},
journal={Legal Theory & Practice Review},
issn={2288-1840},
year={2024},
volume={12},
number={3},
pages={301-382}
TY - JOUR
AU - Zhu Kai
TI - Measures to Improve China’s old-age Pension System through Analysis of the Current Status of old-age Pension Systems in Major Overseas Countries
JO - Legal Theory & Practice Review
PY - 2024
VL - 12
IS - 3
PB - The Korea Society for Legal Theory and Practice Inc.
SP - 301
EP - 382
SN - 2288-1840
AB - The purpose of this study is to comprehensively analyze China’s old-age insurance system by examining the interaction between current laws and policies. The focus is to find out how an integrated legal and policy framework can improve the efficiency and sustainability of systems dedicated to supporting older people. This study examines the strengths and weaknesses of existing policies and laws, with the aim of identifying ways to strengthen support mechanisms for older people. Through a theoretical lens and a case study approach, this study seeks to address pivotal issues within China’s endowment insurance framework, including existing gaps, challenges, and areas in need of improvement.
In doing so, the study aims to thoroughly evaluate China’s legal and policy environment on old-age insurance and highlight significant deficiencies and loopholes that may compromise the efficiency of the system in providing services to the elderly population. The ultimate goal is to strengthen the resilience of China’s old-age insurance system and improve the well-being of older people by providing fundamental insights and advocating for evidence-based policy interventions.
The study includes a critical review of the problems plaguing China’s old-age insurance system and a comparative analysis of the legal and operational systems of old-age insurance systems in the United States, Germany, the United Kingdom, Japan, and Korea. This comparison is intended to highlight the institutional, policy and legislative shortcomings of the Chinese system, while at the same time exploring the path to reform and the possibility of adopting the successful practices of these foreign models. The direction of development of China’s old-age insurance system is based on the country’s developing. The idea is to create a more inclusive, sustainable and resilient framework that can adapt to demographic and economic circumstances. This development trajectory includes a comprehensive overhaul of institutional structures, policy frameworks and legislative bases to ensure wider coverage, improved efficiency and greater equity overall. Key to these developments is expanding insurance coverage to include informal sector workers and workers in rural areas, addressing historical gaps that have left significant segments of the workforce without adequate retirement security.
There is also a noticeable shift towards implementing centralized management practices to alleviate regional disparities by streamlining operations and ensuring uniformity of policy application across different regions. Strengthening transparency and accountability within the system is also a pivotal goal, aiming to build public trust and foster a culture of informed participation among stakeholders.
In terms of policy innovation, diversifying investment strategies to strengthen the financial sustainability of old-age insurance funds is critical, especially given China’s aging population and resulting fiscal pressures. This includes exploring a variety of asset classes and investment opportunities, as well as introducing rigorous risk management protocols to protect the fund’s assets.
Legislatively, the focus is on harmonizing existing laws and regulations to eliminate inconsistencies that undermine the efficiency and equity of the system. Streamlining the legislative process to enable rapid adaptation to new challenges and promoting stakeholder participation in policy formulation are also key areas of emphasis.
This strategic direction emphasizes a holistic approach to reform China’s old-age insurance system, emphasizing resilience, inclusiveness and sustainability to meet the needs of the aging population while adapting to global best practices and innovations in social security administration.
KW - pension;sustainability;stakeholders;pension fund;old-age.
DO -
UR -
ER -
Zhu Kai. (2024). Measures to Improve China’s old-age Pension System through Analysis of the Current Status of old-age Pension Systems in Major Overseas Countries. Legal Theory & Practice Review, 12(3), 301-382.
Zhu Kai. 2024, "Measures to Improve China’s old-age Pension System through Analysis of the Current Status of old-age Pension Systems in Major Overseas Countries", Legal Theory & Practice Review, vol.12, no.3 pp.301-382.
Zhu Kai "Measures to Improve China’s old-age Pension System through Analysis of the Current Status of old-age Pension Systems in Major Overseas Countries" Legal Theory & Practice Review 12.3 pp.301-382 (2024) : 301.
Zhu Kai. Measures to Improve China’s old-age Pension System through Analysis of the Current Status of old-age Pension Systems in Major Overseas Countries. 2024; 12(3), 301-382.
Zhu Kai. "Measures to Improve China’s old-age Pension System through Analysis of the Current Status of old-age Pension Systems in Major Overseas Countries" Legal Theory & Practice Review 12, no.3 (2024) : 301-382.
Zhu Kai. Measures to Improve China’s old-age Pension System through Analysis of the Current Status of old-age Pension Systems in Major Overseas Countries. Legal Theory & Practice Review, 12(3), 301-382.
Zhu Kai. Measures to Improve China’s old-age Pension System through Analysis of the Current Status of old-age Pension Systems in Major Overseas Countries. Legal Theory & Practice Review. 2024; 12(3) 301-382.
Zhu Kai. Measures to Improve China’s old-age Pension System through Analysis of the Current Status of old-age Pension Systems in Major Overseas Countries. 2024; 12(3), 301-382.
Zhu Kai. "Measures to Improve China’s old-age Pension System through Analysis of the Current Status of old-age Pension Systems in Major Overseas Countries" Legal Theory & Practice Review 12, no.3 (2024) : 301-382.
