In China, school and hospital staff account for approximately 70% of the total staff in public institutions. In the second half of 2014, the central government embarked on the old-age pension reform of public institutions that would be introduced in 2015. The pension reform of colleges and universities is considered the bellwether of this reform. Nowadays, the old-age pension reform of administrative units has already started, but the reform of colleges and universities has not been implemented yet. This article attempts to explain the slow progress in pension reform and propose corresponding solutions. A breakthrough in this regard requires great political wisdom and sufficient financial support. Only in this way can the entire society address social conflicts, solve practical problems, and achieve ideal reform goals.
Miyazaki, & Koichi (2014). The Effects of the Raising-the-Official-Pension-Age Policy in an Overlapping Generations Economy. Economics Letters, 123, 329-332.