Population aging is an unprecedented challenge generally faced by human society. As the world’s most populous country, China has a demographic structure featured by a large aged population base, rapid growth rate, and “getting old before getting rich”. These features are exerting an increasing impact on China’s social, economic and financial systems, both bringing pressures and creating new opportunities. How to effectively respond to the challenges brought about by aging, and facilitate the transformation of China’s economic and financial system to the high-quality track through improving the healthy and sound development of pension finance remains a significant and far-reaching proposition. In this context, the Research Institute of Finance of the Development Research Center of the State Council and Prudential Plc jointly conducted a research on the development of China’s pension finance, which aims to deeply analyze the policy and institutional obstacles in the reform and development of China’s pension finance in order to effectively respond to various challenges in the aging process and maximize the possible opportunities. The joint research was carried out in two phases and mainly focused on the research on the third pillar of Chinese pension system in 2019. This abstract summarizes the research results of the first phase.

Download the full report：Developing the Third Pillar of Pension to Cope with Population Aging in China