Sun, Qixiang; Maxwell, John W. - In: Journal of Insurance Issues 25 (2002) 2, pp. 103-126
Driven by the twin pressures of economic reform and an aging population, China began to reform its pay-as-you-go (PAYG) pension system in the mid-1980s. In 1997, the Chinese government issued a document to formally establish a new, partially funded pension system for urban workers. The new...