The Pension Security System Reform In China

Pension has been an important livelihood issue, pension reform affects everyone.The third Plenary Session of the party’s eighteen sounded a new round of pensionreform horn, to improve the pension safety net, so that the old can enjoy their twilightyears. This article describes the history of development of China’s pension system,problems, and describes the background of the United States in the1980s Americanpension reform, content and achievements. The United States in the last century hasgreat similarities in the social security development process with China, are facedwith a rapidly aging population, the pension gap, the slow development ofsupplementary pension insurance and other issues, the United States Social SecurityAct by modifying a series of new regulations to make ageing and fund gap is resolved,and to promote the rapid development of supplementary pension insurance. It is in acrucial stage of reform, an urgent need to address aging, pension gap problem. Thisarticle use a combination of qualitative and quantitative analysis of the way,recommended that the reform of the pension system should be expanded SocialSecurity faces, raise insurance rates, improve co-ordination level, extend theretirement age, to develop supplementary pension insurance and so on, graduallyrealize a sense of security, the aged can rely on, to maximize the effect of the pensionsystem.