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Table 2 Key parameter list

From: From “selective two-child policy” to universal two-child policy: will the payment crisis of China’s pension system be solved?

Parameter The assumption of base
Total fertility rate one-child policy: town 1.1956 rural 1.7568 selective two-child policy: town 1.2049~1.3985 rural 1.7373~1.7914 universal two-child policy: town 1.2831~2, rural 1.7633~2
Growth rate of payment base 7% from 2015 to 2020, down by 0.5% every 5 years until to 2%
Growth rate of per pension fund 90% of the growth rate of payment base
Planned granting proportion of basic pension fund of the old 70%
Planned granting proportion of basic pension fund of the second old 20%
Planned granting proportion of basic pension fund of the second new and the new Proportion is 1% in the first year and cumulating in the following years
Planned granting proportion of basic pension fund of the second old and the new Proportion is 1.2% in the first year and cumulating in the following years
Number of planned granting month of individual account of the second old 120