>

International comparisons in handling the implicit debt of pensions

International Social Science Journal (Chinese Edition)
No.1, 2014
 
International comparisons in handling the implicit debt of pensions
(Abstract)
 
Yang Yiyong, Wen Pengli and Wang Gangyu
 
Endowment insurance, or pension, can usually be seen as a government’s promise to its citizens. It would be inevitable to change, reduce or harm the rights and interests of some related people when a system of pension is transformed. Therefore, that the implicit debt in pensions is handled properly is a prerequisite for the transformation. The authors select Chile, Poland and Argentina as specimen countries to consider the ways to handle to the debt and propose a common way – which may be a general one -- for handling the cost of transformation of pension systems, which may be beneficial for China to draw lessons.