Richard Hinz

Comprehensive reform of China's pension and social security system is an essential element of achieving its objectives of a harmonious society and sustainable development. Over the past few years, the Government has considered various options and initiated several significant measures. In 2009 the authorities established a national framework for rural pensions, the Rural Pension Pilot Program (RPPP) and in 2011 a Pilot Social Pension Insurance for Urban Residents announced. In this process, it has articulated principles for a reformed urban pension system (indicated by 12 Chinese characters ) which are "broad coverage, protects at the basic level, is multi-layered, and sustainable" while the principles for the rural system (indicated by 12 characters ) are "broad coverage, protects at the basic level, flexible, and sustainable." These principles underpin the commitments made at the 17th Party Congress towards a comprehensive and integrated social security system by 2020.

Old-Age Income Support attempts to explain current policy thinking and update the World Bank's perspective on pension reform. The Bank has been involved in pension reforms in nearly 60 countries, and the demand for its support continues to grow. This book incorporates lessons learned from recent Bank experiences and research that have significantly increased knowledge and insight regarding how best to proceed in the future.