EN
China pension system includes three subsystems: the Urban Employees’ Basic Pension System covering employees and the self-employed, Urban and Rural Residents Basic Pension System covering the residents who are underemployed, the Government Organs and Public Institutions Pension System covering the employees in public sectors. The overall coverage is more than 900 million people. The three sub-systems differ in terms of insurance qualification, payment rate and benefit levels. At present, the main problems of the Chinese pension system lies in empty operation for individual accounts and inadequate development of enterprise annuity and individual deposit life insurance.