One Country, Two Systems: Evidence on Retirement Patterns in China

John Giles, Xiaoyan Lei (), Gewei Wang (), Yafeng Wang () and Yaohui Zhao ()
Additional contact information
Xiaoyan Lei: Peking University
Gewei Wang: Peking University
Yafeng Wang: Peking University
Yaohui Zhao: Peking University

No 14725, IZA Discussion Papers from Institute of Labor Economics (IZA)

Abstract: This paper documents the patterns and correlates of retirement in China using a nationally representative survey, the China Health and Retirement Longitudinal Study (CHARLS). After documenting stark differences in retirement ages between urban and rural residents, the paper shows that China's urban residents retire earlier than workers in many OECD countries and that rural residents continue to work until advanced ages. Differences in access to generous pensions and economic resources explain much of the urban-rural difference in retirement rates. The paper suggests that reducing disincentives created by China's Urban Employee Pension system, improving health status, providing childcare and elder care support may all facilitate longer working lives. Given spouse preferences for joint retirement, creating incentives for women to retire later may facilitate longer working lives for both men and women.

Keywords: aging; pensions; urban-rural gap; retirement; China; CHARLS (search for similar items in EconPapers)
JEL-codes: J26 O15 O17 O53 (search for similar items in EconPapers)
Pages: 45 pages
Date: 2021-09
New Economics Papers: this item is included in nep-age, nep-cna, nep-hea and nep-lma
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Citations: View citations in EconPapers (7)

Published - published in: Journal of Pension Economics and Finance, 2023, 22 (2), 188-210

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Related works:
Journal Article: One country, two systems: evidence on retirement patterns in China (2023)
Working Paper: One Country, Two Systems: Evidence on Retirement Patterns in China (2021)
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