Click here to skip to content

Welfare Reform on the Web (June 2003): Pensions - Overseas

FROM ENTERPRISE PROTECTION TO SOCIAL PROTECTION: PENSION REFORM IN CHINA

P. Whiteford

Global Social Policy, vol. 3, 2003, p.45-77

Article assesses developments in retirement income policies in China over the past decade. Compares the Chinese system with those operating in other parts of the world and in other Asian countries. Goes on to consider the impact of the reform of the Chinese pension system on global social policy development, its sustainability and its fairness. Outstanding problems with the current system include:

  • a relatively low retirement age;
  • a high formal wage replacement rate;
  • its limited coverage;
  • its low degree of risk pooling;
  • the limited mechanisms for financing it.

FROM REFORM THE CRISIS: ARGENTINA'S PENSION SYSTEM

F. M. Bertranou, R. Rofman and C. O. Grushka

International Social Security Review, vol. 56, no. 2, 2003, p. 103-114

Argentina's pension system was reformed in 1994 into a two pillar scheme. The first pillar is a basic universal pension administered by the state and available after 30 years of contributions of the minimum retirement ages of 60 for women and 65 for men. The second pillar offers workers a choice of a pay-as-you-go defined benefit programme administered by the State or a defined contributions scheme based on individual savings accounts administered by private institutions. Article discusses the impact of the social and economic collapse of December 2001 on the pension scheme.

PROTECTING THE AGEING POOR OR STRENGTHENING THE MARKET ECONOMY: THE CASE OF THE HONG KONG MANDATORY PROVIDENT FUND

C. K. Chan

International Journal of Social Welfare, vol. 12, 2003, p. 123-131

Examines Honk Kong's Mandatory Provident Fund (MPF). Finds the retirement savings scheme boosts the economy and strengthens the financial services sector. The fund provides limited assistance, particularly for older workers and low earners and it excludes the most vulnerable groups of Hong Kong's society.

THE RECALIBRATION OF THE DANISH OLD-AGE PENSION SYSTEM

N. Ploug

International Social Security Review, vol. 56, no. 2, 2003, p. 65-80

Discusses the process of the reform of the Danish old-age pension which led to the creation of the current multi-tier system. The reform led to the development of a system of funded defined contribution occupational pension schemes jointly run by employers and unions. These schemes supplement the tax-funded state pension.

Search Welfare Reform on the Web