Pension Security Level of Urban Employees in China Based on CHIPs

Table 2

Pension replacement rate and income replacement rate of urban employees in China.

	Caliber division	1988 (%)	1995 (%)	2002 (%)	2007 (%)	2013 (%)	2018 (%)
Total pension replacement rate	Nonprivate	84.62	76.01	63.64	59.61	46.06	47.77
	Nonprivate + private	89.19	78.78	68.14	62.92	51.14	52.29
	Insured employee	84.68	77.06	64.72	60.47	47.03	49.17
Net pension replacement rate	Nonprivate	84.62	76.72	69.33	68.04	48.56	52.39
	Nonprivate + private	89.19	79.54	74.08	71.45	53.76	56.20
	Insured employee	84.68	77.71	70.99	68.33	49.73	53.67
Total income replacement rate	Nonprivate	88.16	76.41	68.54	66.32	52.69	56.95
	Nonprivate + private	91.05	80.09	72.68	69.81	58.33	60.37
	Insured employee	88.72	77.26	69.38	67.17	53.16	58.09
Net income replacement rate	Nonprivate	88.16	77.00	78.98	74.80	55.35	61.55
	Nonprivate + private	91.05	80.67	83.93	78.35	61.01	64.42
	Insured employee	88.72	77.84	80.52	75.81	56.07	62.52

Source: authors’ calculations by using CHIPs data.