From “selective two-child policy” to universal two-child policy: will the payment crisis of China’s pension system be solved?

Background With the rapid population aging, the payment crisis of China’s pension insurance fund is increasing yearly. The government adjusts fertility policy to alleviate population aging and improve the solvency of pension insurance fund. On January 1, 2016, China’s fertility policy was adjusted from “selective two-child policy” to universal two-child policy.