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Assessment for Social Security Pilot in Jilin and Hei Longjiang of China 1
Author(s) -
Zheng Bingwen
Publication year - 2006
Publication title -
china and world economy
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.815
H-Index - 28
eISSN - 1749-124X
pISSN - 1671-2234
DOI - 10.1111/j.1749-124x.2006.00040.x
Subject(s) - notional amount , social security , china , investment (military) , zhàng , business , economic policy , economic growth , finance , economics , political science , market economy , politics , law
Abstract The present paper reviews the social security pilot in Jilin and Hei Longjiang that was carried out between 2004 and 2005. The pilot in the two provinces has basically achieved its main objectives, but there are still some unsolved problems, the most severe being lack of effective investment of the funds accumulated by individual accounts. During periods of high economic growth and high growth in average wages, this problem might undermine the partially‐funded security system. To this end, the paper makes some suggestions, one of which is to introduce the notional defined contribution system. (Edited by Zhinan Zhang)