Financing old age care: Definition, theoretical framework and trend

Abstract

Financing old age care is an umbrella term which includes pension finance, financial services for the elderly and finance for the elderly care industry. Pension finance is to manage pension assets in a way to preserve and increase their value; financial services for the elderly are to serve the elderly population's needs for various financial products; finance for the elderly care industry is to assist the industry in investment and financial activities. Financing old age care is not only significant to an ageing society but also to economic transformation and upgrade. China's pension finance is seriously lagging behind, calling for greater efforts to close the gap.