Swedish Pension Reform: Reflections and Lessons

Abstract

Sweden's welfare system once ensured the sustained economic growth and stable social order, but as the world economic situation changes and structural changes in Swedish society, the welfare system controlled by government confronted with severe challenges and need to reform urgently. This paper analyzes the specific reform measures based on the problems faced by the Swedish pension system and discusses in depth the operating system of nominal personal account system, the transformation cost of pension reform and the impact on labor market. Finally, according to the developments and reform effects of Swedish pension system, we combined with China's specific national conditions and brought forward the policy recommendations for pension reform such as the gradual path and sustainable development. [PUBLICATION ABSTRACT]