The NRPS is an unprecedented welfare program covering the largest population in human history. By the end of 2012, China’s governments had allocated more than 262 billion yuan (i.e., about US $41 billion) to the NRPS. The number of Chinese citizens receiving pensions reached 140 million by the end of 2014, and the total number of participants was approximately 430 million. Meanwhile, the poverty rate in China significantly decreased from 14.7 percent in 2008 to 7.9 percent in 2011 and then further declined to 1.9 percent in 2013 (WHO data, poverty line = $1.90 dollar a day).
The NRPS started in September 2009 and reached universal coverage by the end of 2012 after four rounds of expansions. We requested data on timing of the NRPS coverage across counties from China’s State Council Leading Group Office of Poverty Alleviation and Development, and received their official formal reply. Figures 1a through1d show the counties in mainland China covered by the NRPS in each year from 2009 to 2012.
Using the exogenous variation in the New Rural Pension Scheme (NRPS) implementation and the latest nationally representative sample from China, we systematically examine the effects of a pension provision on income, labor supply, consumption and health.
人的发展经济学研究中心（China Center for the Economics of Human Development，CCEHD）由...