top of page

China Pension Report: The Top Level Design of the Third Pillar Pension System in China

Editor in Chief: Zheng Bingwen ISBN: 978-1-84464-480-3 E-ISBN: 978-1-84464-481-0 Hardback- 294 pages May 2017 English £195 €229 $245


Description: An Essential Guide to China's Huge Pension Market

In recent years in China, commercial insurance agencies had directly supplied or participated in supplying diverse goods and service of commercial old-age insurance, mainly consisting of old age risk control, pension management and old age financial service, which make the role of commercial insurance in economic development more evident and important. The development of commercial old age insurance is a highly valuable and strategically important to not only the adequacy and sustainability of Chinese people’s old-age security, but also the long-standing harmony of Chinese social and economic progress. At present, as the 12th Five-Year Plan is successfully finishing and the 13th Five-Year Plan is starting, initiated by the Pension Department of the Insurance Institute of China (IIC) and supported by Anbang Insurance Group, China Academy of Social Science (CASS) had conducted the research on the Top-Level Design and Development Strategy of Commercial Old-Age Insurance, in cooperation with so many top-class Universities in China. This is the first comprehensive research on commercial old-age insurance in China, whose result is extremely important, because in this research, more than 10 countries, USA, UK, Canada, Germany, France, Switzerland, Holland, Italy, Spain, Sweden, Finland, Japan and Korea, are covered, and all the materials are of original version, which means that the data are detailed and reliable, and the analysis is objectively made. Besides, basing on the research on commercial old-age insurance and its effect to economy and society in foreign countries, the present report proposes a series of innovative and profound opinions on the basic definition and functional position of commercial old-age insurance in the whole structure of Chinese economy and society, which can fit into China’s reality. There are three typical characteristics concerning this book: Firstly, commercial insurance, which is one of the key points in the strategic structure of a nation’s social and economic development, can release good effect and have huge development space in tackling population aging and promoting the development of economy and society. China’s State Council had stated that the government aims to enable modern insurance service industry to be a strong pillar of the financial system, a forceful support to the livelihood guarantee of the people, effective mechanism for innovating social governance, efficient engine to drive the economy and a powerful driver to the function transformation of government. This way, promoting the development of insurance industry by the statement of such a high level governmental document, is a precedent in the world. It is not only a historic opportunity and institutional dividends for the development of insurance industry, and it also poses the commission and responsibility of assisting China’s social-economic development in the New Normal state to insurance industry. Secondly, the research on the top-level design and development strategy of commercial old-age insurance clearly demonstrates that the research participants see the urgency of building up a multi-tier old-age security system in this era and that they had precisely diagnosed the context of pilot policy that favors individually tax-deferred old-age insurance. It does not only provide helpful suggestion and reference to policy maker, but also constitute a valuable academic material for the researches on commercial old-age insurance and social old-age security system. Finally, as one of the most authoritative scientific research institutions in china, China Academy of Social Science(CASS) had conducted the research on the Top-Level Design and Development Strategy of Commercial Old-Age Insurance, in cooperation with China's first class Universities—Peking University(PKU), University of International Business and Economy(UIBE), Nankai University(NKU) and Zhejiang University(ZJU). This is the first comprehensive research on commercial old-age insurance in China, whose result is extremely important.



Contents (Principal Report & 10 Sub-Reports) Principal Report The Development Strategy of Commercial Old-Age Insurance: Its Top-Level Design and Model Selection Annual Development Sub-Report 01 The Old-age Insurance Participation in 2014: Ongoing Growth, But at A Slower Pace, Institutional Development Entering ‘New Normal State’ Sub-Report 02 Evaluation of the Management of Basic old-age insurance Fund in 2014:The Current Surplus Either Drops Sharply or Grows at Slower Speed, Demonstrating the Turning Point of the Funds Sub-Report 03 Evaluation on The Condition of Enterprise Annuity Market: The Rates of Return Bounce Back Significantly, The Expansion of Scale Encounter Obstacles. Reform (1) Sub-Report 04 The Definition of Commercial Old-Age Insurance:Functions and Orientation Sub-Report 05 The embodiment of commercial old-age insurance: The significance of Individual commercial old-age Insurance Account Reform (2) Sub-Report 06 Commercial Old-Age Insurance: The Principal Responsibility Taker of Security Plans for Individual and Household Sub-Report 07 Commercial Old-Age Insurance: The Critical Supplier of Old-Age Security Plans Initiated by Enterprises. Sub-Report 08 Commercial Old-Age Insurance: An Active Participant inThe Marketization of Social Old-Age Security Sub-Report 09 Commercial Old-Age Insurance:A Powerful Promoter of The Healthy Development of Old-Age Service Industry Sub-Report 10 Commercial Old-Age Insurance: A Stable Supporter to Economic Growth and Financial Development


Editor in Chief:

Zheng Bingwen, Ph.D. in economics, professor and doctoral tutor, currently serves as the director of Institute of American Studies and Center for International Social Security Studies at Chinese Academy of Social Sciences. The author also enjoys the special government subsidies and served as the part-time professor for a dozen key universities in the country. Since 1985, Prof. Zheng Bingwen has published more than 500 papers, articles and internal references documents, over 10 English papers and over 10 works written and translated, totalling more than 8 million words. Prof. Zheng Bingwen is a famous social security expert and economists who enjoys a high reputation at home and abroad.

bottom of page