Meeting the Migrant Pension Challenge in China

Bei Lu and John Piggott

CESifo Economic Studies, 2015, vol. 61, issue 2, 438-464

Abstract: This article proposes a notional defined contribution (NDC) mechanism to ensure pension mobility for the 150 million migrating workers in China during both the accumulation and drawdown phases. Planned governance would ensure independence from the three existing pension systems. An appropriately structured NDC plan of this type is shown to be viable by reference to a previously developed model of Zhejiang Province’s social security systems. Such a plan would remove mobility barriers for migrating workers, increase the retirement benefit for mobile workers, and reduce the future government liability for payouts in other pension systems in which migrants currently hold membership. (JEL codes: H55, J11, J18, R23)

Date: 2015
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