McConnellSSChina

McConnellSSChina - Social Security Reform in Transitional...

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Social Security Reform Social Security Reform in Transitional China in Transitional China Mary O’Connell March 3, 2005
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Social Security in China Governmental expenditures on Social Security provide an important measure of social progress…because social welfare programs must compete with other sectors for funds and for their share of finite national revenues, such expenditures can reveal the extent of a government’s commitment to general welfare and the satisfaction of human needs. Goal of economic development: social well-being of the people; economics and social aspirations go hand in hand. Should be a feature of all developed economies.
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Social Security in China $60.8 billion yuan ($7.3 billion U.S. dollars) was spent on living expenses and old-age pensions alone, an increase of more than 13% from only the previous year. This figure totaled more than 23% of China’s GDP in 2003— yet reached a far lesser percentage of the population. ( People’s Daily Online , March 6, 2004)
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Social Security in China Defining Social Security Very elusive concept; hard to define precisely Program financed by government, employer, and employee payments Objective: promote social well-being, especially for non-workers and the economically disadvantaged; prevent social decline
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Social Security in China SS generally includes contingencies such as: Medical care Sickness Maternity care Maintenance of children Inadequate housing Injury at workplace “Social protection of all people” Occupational hazards/diseases Unemployment Old age; retirement Invalidity Death
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Social Security in China
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McConnellSSChina - Social Security Reform in Transitional...

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