ABSTRACT
While we in China are madly searching for a solution to our “empty accounts” problem, to make up for shortfalls in our pensions, some countries have already been experimenting for years with something called “non-financial defined contributions” (NDC). This approach began in Sweden. It was recommended for China as well, one year ago, when a study group composed of both Chinese and foreign experts looked at the possibility. This group felt that adopting an NDC approach was a realistic and effective solution to the problem of empty accounts currently plaguing China’s pension system.
