| 中文摘要 | 第1-6页 |
| ABSTRACT | 第6-13页 |
| 前言 | 第13-15页 |
| Ⅰ. Why is the reform to cover funding gap necessary and urgent | 第15-41页 |
| 1. China's aging population | 第16-24页 |
| ·Irreversible trend with inereasing old-age dependency ratio | 第17-20页 |
| ·Lower fertility rate and One-Child policy | 第18-19页 |
| ·Longer life expectaney | 第19页 |
| ·Increasing old-age dependency ratio | 第19-20页 |
| ·Grows old rapidly with large base number before grows rich | 第20-24页 |
| ·Giant base number and accelerating growth | 第20-21页 |
| ·Large amount of Oldest-old | 第21-22页 |
| ·Grows old before grows rich | 第22-24页 |
| 2. Overview of China's pension system and its funding gap | 第24-41页 |
| ·How is China's pension system designed? | 第24-28页 |
| ·Basic pension plan | 第25-26页 |
| ·Mandatory individual account | 第26页 |
| ·Enterprise annuity program and individual savings plan | 第26-27页 |
| ·National social sccurty fund | 第27-28页 |
| ·How serious is the funding gap issue | 第28-29页 |
| ·Why it cannot be solved without reform | 第29-37页 |
| ·What causes the funding gap in the context of aging population | 第30-32页 |
| ·What other factors worsen the funding gap | 第32-37页 |
| ·Literature review:scholars proposals to solve the problems | 第37-41页 |
| ·Parametric reform | 第38-39页 |
| ·Cost of the structural transition | 第39-41页 |
| Ⅱ. Can the funding gap be covered | 第41-98页 |
| 3. Case Study:How to implement the parametric reform in Japan and South Korea | 第41-72页 |
| ·The demographic situation in Japan and South Korea | 第41-44页 |
| ·Financial deficit of the pension system in Japan and South Korea | 第44-47页 |
| ·Pensions at great expense | 第45-46页 |
| ·Potential fiscal deficit in the pension system | 第46-47页 |
| ·Overview of the pension scheme in Japan and South Korea | 第47-55页 |
| ·Multi-pillar pension system and two-tier first pillar in both countries | 第48-53页 |
| ·Means-tested old age pension funded by general revenue in South Korea | 第53页 |
| ·Large amount of prefunding | 第53-55页 |
| ·Pension reform and its trend | 第55-65页 |
| ·Expansion of the coverage | 第56-58页 |
| ·Contribution rate.pensionable age and replacement rate | 第58-62页 |
| ·Adjustment of benefit level Japan | 第62-63页 |
| ·Shift from DB plans to DC plans | 第63页 |
| ·Inestment stategy of the reserve fund | 第63-65页 |
| ·Assessment of the reform and the lessons to China | 第65-72页 |
| ·Adequacy of the pension:the expansion of coverage | 第66-67页 |
| ·More sources of contribution and lower level of the benefit | 第67-69页 |
| ·Higher efficiency of the operation and the management | 第69-72页 |
| 4. Case Study: How to share the cost of pension transition in Chile and Sweden? | 第72-98页 |
| ·Chilean model:priatization with government support | 第73-83页 |
| ·Mandatory private pension system | 第74-77页 |
| ·Recognition bond and the role of the government in the transition | 第77-79页 |
| ·Outcome of the transition in Chile | 第79-83页 |
| ·Swedish model:Introduction of the notional defined-contribution plan | 第83-96页 |
| ·Gradual transition with notional individual account and private individual account | 第84-86页 |
| ·Automatic balancing mechanisms against early retirement and liabity | 第86-89页 |
| ·Redistributive function in the new system | 第89-91页 |
| ·Centralized management with buffer fund and PPM | 第91-93页 |
| ·Outcome of the Swedish pension reform | 第93-96页 |
| ·Conclusion | 第96-98页 |
| Ⅲ. How to reform in China | 第98-114页 |
| 5. China's reform | 第98-111页 |
| ·Review of the reforms in Japan.South Korea.Chile and Sweden | 第98-100页 |
| ·Reforms in China | 第100-111页 |
| ·Increase of the pensionable age | 第100-102页 |
| ·Establishment of the automatic adjustment mechanism | 第102-104页 |
| ·Larger reserve fund with pooling at higher level | 第104-105页 |
| ·Liberalized financial market with more options on investment and pension types | 第105-107页 |
| ·Redistribution with the minimum guarantee and means-tested benefit | 第107-109页 |
| ·Strieter supervision to promote transpareney the pension system | 第109-111页 |
| 6 Conclusion | 第111-114页 |
| Bibliography | 第114-119页 |
