After over four years of research and feasibility studies， the top-level design for a reformed pension system is nearing completion. But the future direction of personal pension accounts remains highly controversial. For a long time， money in personal pension accounts has been diverted to pay for annuities received by the current aging population. As a result， there is virtually no money left in personal pension accounts. It is estimated that by 2024， the amount of charges to personal pension accounts will exceed the size of public budget revenues.

No matter which reform plan is adopted， there are inevitably costs for restructuring. The pressure of paying into the system may be spread out across multiple generations， in order to achieve long-term sustainability.