Pension and public finance: progress and challenges

Randong Yuan

Chapter 12 in Handbook of Public Finance in China, 2026, pp 272-294 from Edward Elgar Publishing

Abstract: This chapter explores the evolution, structure, and challenges of China's pension system within the broader context of China's public finance landscape. It traces the historical development of the pension system from its inception to the present, highlighting significant reforms, the transition towards greater coverage, and persistent fragmentation in financing. The analysis considers the public financial environment shaping the pension framework, examining its financial scale, eligibility criteria, participant numbers, and sustainability issues. Key challenges such as the detrimental effects caused by fragmented administration and financial sustainability amid an ageing population are critically assessed. The chapter aims to provide insights into the complexities of China's pension system, its impact on fiscal policy, and the ongoing efforts to address demographic pressures and ensure equitable and sustainable pension provision for China's future.

Keywords: China; Social security; Pension; Fragmentation; Intergovernmental fiscal relations; Population ageing; Public finance (search for similar items in EconPapers)
Date: 2026
ISBN: 9781035311705
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