Sources of China IPD orientated from two defined benefit pension schemes, one is social pooling account based on PAYG, the other is individual account based on FUND.
Most of the pension plans in the world tend to be government pension plans (partially funded or unfunded defined benefit schemes.)
Moving to DC pensions for new entitlements, or to a cheaper version of a defined benefit scheme [3] (such as an average - rather than a final-salary pension) would also help.
That's because retirement accounts (including IRAs, 401 (k) s, 403 (b) s, public employee retirement accounts, defined benefit plans, etc.) are usually governed by the contract that created them.
