One Country, Two Systems : Evidence on Retirement Patterns in China
This paper documents the patterns and correlates of retirement in China using a nationally representative survey, the China Health and Retirement Longitudinal Study. After documenting stark differences in retirement ages between urban and rural res...
| Main Authors: | , , , , |
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| Format: | Working Paper |
| Language: | English |
| Published: |
World Bank, Washington, DC
2021
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/731051620321549768/One-Country-Two-Systems-Evidence-on-Retirement-Patterns-in-China http://hdl.handle.net/10986/35563 |
| Summary: | This paper documents the patterns and
correlates of retirement in China using a nationally
representative survey, the China Health and Retirement
Longitudinal Study. After documenting stark differences in
retirement ages between urban and rural residents, the paper
shows that China's urban residents retire earlier than
workers in many Organisation for Economic Co-operation and
Development countries and that rural residents continue to
work until advanced ages. Differences in access to generous
pensions and economic resources explain much of the
urban-rural difference in retirement rates. Fending off the
fiscal pressures resulting from rapid population aging will
require encouraging longer working lives among more highly
educated and skilled workers living in China's urban
areas. The paper suggests that reducing disincentives
created by China's employee pension system, improving
health status, providing childcare, and elder care support
may all facilitate longer working lives. Given spouse
preferences for joint retirement, creating incentives for
women to retire later may facilitate longer working lives
for men and women. |
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