[雙語翻譯]養(yǎng)老金外文翻譯--哪種養(yǎng)老金模式對中國最有希望

1、4000 英文單詞， 英文單詞，2.1 萬英文字符，中文 萬英文字符，中文 6850 字文獻(xiàn)出處： 文獻(xiàn)出處：Williamson J B, Shen C, Yang Y. Which pension model holds the most promise for China: a funded defined contribution scheme, a notional defined contribution scheme or

2、 a universal social pension?[J]. Benefits, 2009, 17(2): 101-111.Which pension model holds the most promise for China: a funded defined contribution scheme, a notional defined contribution scheme or a universal social pen

3、sion?John B.Williamson, Ce Shen and Yinan YangFaced with concerns about how to finance pensions for present and particularly future retirees, Chinese policy makers concluded that their traditional defined benefit pension

4、 scheme was not going to be sustainable. they, like pension policy makers around the world, have been looking for alternatives and have tentatively decided to go with a multi-pillar scheme that includes a major funded de

5、fined contribution pillar. We question the wisdom of that choice and explore two alternatives, one for urban workers based on the notional defined contribution (nDC) model and one for rural workers based on the universal

6、 social pension model.IntroductionChina has one of the most rapidly increasing rates of old-age dependency in the world. This trend poses a major problem for pension policy experts in China. But China is not just another

7、 rapidly aging country, in 2007 some 21% of the world’s population aged 60 and over was living in China and in the years ahead China’s share will be increasing (Kinsella and Velkoff, 2001; UN, 2007). This is one reason t

8、hat pension policy developments in China are so important.Another is that China is not only a large country, it currently has the world’s fourth largest economy (US Census Bureau, 2009). Due to its size, the rate of grow

9、th of its economy and its status as a developing nation, it is quite possible that other developing nations will be looking to China for ideas about how best to deal with increasing old-age dependency.During the decades

10、after the end of the Second World War, the pay-as-you- go defined benefit (PAYG DB) public pension model spread from the industrial nations of the world to other nations around the world including many developing nations

11、 (Dixon, 1999; US Social Security Administration, 1999). Since the early 1980s several new approaches to providing old-age security in developing nations have emerged and are currently being tried out in various nations

12、around the world. We will be considering three of these models: (1) the funded defined contribution (FDC) model; (2) the notional (unfunded) defined contribution (NDC) model; and (3) the universal non-contributory (socia

13、l pension) model. The question we will be addressing is which of these three models holds the most promise for China?Current policyThe People’s Republic of China was established in late 1949 and by 1951 an old- age pensi

14、on scheme had been set up, but the scheme was largely limited to certain categories of urban workers, those working in state-owned enterprises (SOEs) and employees of large urban collectives. The old-age security system

15、in China is continually undergoing change, but the broad outline of the current scheme for urban workers is described in State Council Decrees 26 (in 1997), 42 (in 2000) and 38 (in 2005) (Williamson and Deitelbaum, 2004;

16、 Zhu and Liu, 2008). The current scheme is described by the government as having three pillars. The first is made up of two mandatory components.The second and third pillars are both voluntary and target primarily more a

17、ffluent workers. Tax incentives are given for participation in the second pillar which is fully funded by contributions from workers and employers. The third pillar is basically a private savings scheme new approach. Tod

18、ay there are 12 Latin American schemes and over 30 worldwide that include at least an FDC pillar (James, 2005; Calvo and Williamson, 2008). By the early 1990s this model was being strongly promoted by the World Bank (199

19、4) for countries around the world facing financing problems with their PAYG DB pension schemes. There are still those who remain strong supporters of the Chilean model (James, 2005; Zhu and Liu, 2008); however, in recent

20、 years opinions about the success of this model have become more mixed (Williamson, 2005; Casey and Dostal, 2008; Kritzer, 2008).The notional defined contribution (NDC) modelThe NDC model is a second alternative that has

21、 emerged in response to the difficulties many countries were having funding their maturing PAYG DB schemes. It typically calls for a PAYG defined contribution individual account as one pillar in a multi- pillar scheme. T

22、hese accounts are notional (unfunded) as the contributions are not deposited; instead, they are used to pay pensions to current retirees (Williamson and Zheng, 2003; Williamson, 2004; Holzmann and Palmer, 2006). One goal

23、 is to tie pension benefits more closely to individual contributions than is typically the case with traditional PAYG DB schemes. The NDC pillar of a pension scheme is not redistributive. However, a separate redistributi

24、ve pillar is typically included as part of the pension system in most countries with an NDC pillar (but not in Mongolia), often taking the form of a guaranteed minimum pension for those who have contributed for a specifi

25、ed number of years.Another goal of the NDC model is to provide mechanisms for sharing the burden between contributing workers and retirees when the pool of revenues being collected via payroll contributions declines. Thi

26、s sharing of the burden is done in different ways, but one of the most common is to base the annual adjustment of the balance in the worker’s notional account (this is the analogue to interest in a savings account) on ch

27、anges in the size of what is called the ‘wage sum’ (think of it as the sum of the contributions made by all workers combined).The wage sum can move up or down and it can go down even when average wage levels move up. Whe

28、n the average wage level increases, the size of the annual increment to these individual accounts tends to increase; but if the number of workers contributing declines, due to higher unemployment rates or demographic cha

29、nges, the size of the adjustment tends to decline. With NDC schemes there are typically similar burden sharing provisions associated with the level of annual adjustments of benefit paid to pensioners. The size of the ann

30、ual pension adjustment can fall if the economy does not perform well. NDC schemes currently can be found in seven countries including Sweden, Latvia, Poland, Mongolia and Russia.The universal social pension modelThe term

31、 ‘social pension’ is sometimes used to refer to a means-tested non- contributory pension available for citizens above a specified age (for example, 60, 70 or 90); but we will focus on the universal (non means-tested) var

32、iant of the social pension. In Vietnam at age 60 a citizen becomes eligible for a means-tested variant of the social pension and then at age 90 becomes eligible for the universal variant (HelpAge International, 2007). Sc

33、hemes based on the social pension model are being introduced in some urban areas, such as Mexico City (Scott, 2005), but are primarily viewed as a way to reach poor older citizens living in rural areas. Traditionally, in

34、 low-income nations, most residents of rural areas have had to rely entirely on their families for economic support in old age. Many pension experts have argued that it is not feasible to attempt to provide a government