Description: A discussion of pension reform in China at the time of the July 1997 introduction of a new unified pension system.

Description: An over view of recent revisions to Social Security, and their implications to the private sector of the insurance industry.

Description: A comparison of Social Security benefits, for a hypothetical new entrant to the program, between the 1972 Social Security Act and the 1977 Social Security Act.

Description: Diverse Risks 2016 Call for Essays

Description: Discussion of the need to understand the implications of demographic and family diversity for the design of retirement programs. The design of retirement programs is a design of programs for the elderly, who are more often women, because women live longer and because their work histories often lead to reduced levels of pension and social security benefits.

Description: This article is the second in a two part series that summarizes a longer paper that can be downloaded from the website of the Social Insurance and Public Finance Section. Both articles take the form of a point-counterpoint dialogue addressing important aspects of social insurance programs. The first part discussed their nature, desirability and advantages, as well as whether they can form a framework to achieve sustainable inter-generational equity. This article focuses on whether pre-funding of a social insurance program can occur and can contribute to the financial security of the participants. Fundamental differences of opinion exist regarding these programs, not only due to different personal and political values, but also as a result of the viewpoint taken (for example, assessment of the program in isolation, consideration of the sponsoring government's financial situation, or the overall national economy).