Abstract:

The operational status of the pension system is vital to the well-being of hundreds of millions of people. Against the backdrop of China’s aging population, high pressure on intergenerational support for pensions, a complex institutional system, and unbalanced development, it is significant to construct an indicator system and compile a China’s pension index when fully considering the macro and micro factors affecting the economic security for the elderly. Taking advantage of authoritative and public data, and using a method combining subjective and objective approaches, this paper measures and analyzes the pension security level of various provinces in China from 2024 to 2025, as well as their operational performance in the dimensions of adequacy, sustainability, balance, and comprehensiveness. Further analysis of the dynamic change trend of the overall operation of the pension system reveals that China’s overall pension security level is in a sound range, and the operation of the pension system is constantly improving; however, the quality of development needs to be enhanced, regional disparities are significant and showing a worsening trend, and the balance and comprehensiveness of pensions need to be improved. In response to this, the government should further enhance the balance and comprehensiveness of pensions to promote the high-quality development of the pension system.

Key words: pension system, pension index, China’s pension index, aging population