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

China Finance and Economic Review

Table 3 Financial operation of pension fund (continually implementing “one-child policy”) unit (billion)

Year	Revenue	Expenditure	Balance	Accumulative balance
2015	2362.94	2164.953	197.987	3462.437
2023	4089.69	4182.629	−92.939	4998.834
2031	6647.943	7291.712	−643.769	2685.111
2032	7082.446	7627.027	−544.581	2194.043
2037	9597.88	9713.71	−115.83	640.044
2038	10,240.799	10,015.406	225.393	887.073
2058	22,724.714	22,322.004	402.71	66,101.638
2059	23,154.92	23,517.355	−362.436	67,382.683
2076	27,531.024	40,933.747	−13,402.722	−13,135.428
2090	26,720.629	58,726.307	−32,005.678	−422,365.195

Note: If the balance were less than 0, deficit of pension fund would appear; if accumulative balance were less than 0, accumulative deficit of pension fund would appear