China and the World Bank's Multi-Pillar Pension Model :Observations, problems and proposals
Like most countries in the world, China is facing a rapid aging population and the traditional Pay-As-You-Go (PAYG) pension model is urgent to be reformed. At present, three hierarchies have formed in current pension system, namely basic pension system based on combining social pooling with individual accounts, supplementary pension system by establishing Enterprise Annuity (EA) system and volunta
