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- W2369118624 abstract "Both Japan and Korea initiated pension system reforms to to accommodate to the structural changes in population and labor market.Japan had not taken effective actions until the problems became serious,while Korea had been comparatively foresightful.Both countries attempted to solve the financial distress of their pension funds by means of higher rate of endowment and lower replacement rate.The difference is that Japan has adopted a contribution mechanism with a strong public pension system,while Korea has adopted a taxation mechanism.With regard to the performance of the reforms,neither country has eliminated the heavy fiscal burden.The replacement rates are comparatively low among the industrialized countries,but the Korean pension system is more effective in terms of income redistribution.Because China has been old before rich,Chinese pension system should be more productivism.We propose that 1) an essential national pension system,which accommodates to the Chinese dual economy in transition,should be established to widen the coverage;2) long-run strategic plans should be made for the Chinese social pension system;and 3) independent pension-management institutions should be developed under the direct supervision of central government." @default.
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- W2369118624 date "2011-01-01" @default.
- W2369118624 modified "2023-09-28" @default.
- W2369118624 title "Comparing Japanese and Korean Pension System Reforms and the Implications" @default.
- W2369118624 hasPublicationYear "2011" @default.
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