Ageing pressure has increased the urgency of pension reform. This has sparked fundamental debates among leading scholars and policymakers about how to make the system fairer, stronger and more sustainable.

Officials are already lowering pension payout growth, delaying the retirement age and investing more pension funds in higher-risk, higher-return stocks and projects. Reducing the public role creates a more sustainable fiscal picture, but threatens the fragile wage-labour social contract.

China Policy has tracked the key voices in the pension debate that are re-examining fundamental structures and paving the path for future reform.

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