Exploring the Circumstances of Pension Insurance Coverage in China

Low social pension insurance coverage has always been a serious threat to the sound function of China's social pension insurance system. In recent years, although progress has been made by China in expanding its social pension insurance coverage, much still remains to be done to make pension insurance affordable to low-income groups. It is also the time to explore different approaches to put in place a rural pension system. And in particular, in city, migrant workers stood at the forefront of industrialization and urbanization of China. The government should enable more flexible workers to afford pension insurance. With the continuous intensification of economic reforms, non-state-owned economy has become an important force in the national economy. Therefore, the participation of non-public enterprises, privately or individually-owned businesses in urban areas, as well as flexible workers should become a top priority in expanding the basic pension insurance coverage.