By Tian Tian & Zhang Chenghui, Research Team on “Taiwan Social Endowment Service”, China International Association for Urban and Rural Development

Research Report No. 5, 2017 (Total 5080) 2017-1-12

Abstract: The development of pension industry in China’s Taiwan province started early. Since entering the aging society in 1993, China has gradually localized the successful development experience of pension industry gained by the United States and Japan, created many practical and unique development modes in line with market development, and established a multi-level and long-term care system. The historical background, basic performance, and development trend relating to pension industry in Taiwan is very similar to that of the mainland, which can provide some enlightenments for the mainland in response to the rapid increase of aging population and the improvement of policy measures for elderly care services. China’s mainland is facing a rapid increase of aging population, especially a large number of elderly population, for care services, the phasing out of family care functions due to the change of family structure, the rapid decline of birth rate and more expenses to be borne by labor force. Against such a backdrop, the mainland needs to take relevant measures to achieve sustainable development relating to the improvement of financing, institutional construction, system and mechanism evaluation, and human resource development.

Key words: pension industry, long-term care, Taiwan