Population Aging and Pension Reforms in China

2026

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AI-generated summary

1) China's rapid population aging and declining workforce present significant economic and fiscal challenges, particularly to its pension system, necessitating comprehensive reforms to ensure sustainability and equity.
2) This paper analyzes the evolution of China's pension system, compares it to international peers, and evaluates the macro-fiscal impacts of population aging and various pension reform scenarios using a calibrated overlapping generations model.
3) Key findings include projections of slowed GDP growth and increased pension spending due to aging, with the 2024 retirement age reform offering partial mitigation, and simulations of additional reforms like enhancing rural benefits, adjusting urban pension formulas, and accelerating retirement age increases.
Tags: China, population aging, pension reform, fiscal sustainability, retirement age

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