Peer Review History
| Original SubmissionSeptember 25, 2024 |
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PONE-D-24-42892Change in Population Structure, Policy Adjustment, and Public Pension SustainabilityPLOS ONE Dear Dr. Meng, Thank you for submitting your manuscript to PLOS ONE. After careful consideration, we feel that it has merit but does not fully meet PLOS ONE’s publication criteria as it currently stands. Therefore, we invite you to submit a revised version of the manuscript that addresses the points raised during the review process. The article sound statistically rigor however it needs major revision, as the reviewer rigorouslly to do so. although reviewer 1 suggested to reject it, I decided to majorly revise instead. Please submit your revised manuscript by Mar 17 2025 11:59PM. If you will need more time than this to complete your revisions, please reply to this message or contact the journal office at plosone@plos.org . When you're ready to submit your revision, log on to https://www.editorialmanager.com/pone/ and select the 'Submissions Needing Revision' folder to locate your manuscript file. Please include the following items when submitting your revised manuscript:
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Kind regards, Agus Faturohim Guest Editor PLOS ONE Journal requirements: When submitting your revision, we need you to address these additional requirements. 1. Please ensure that your manuscript meets PLOS ONE's style requirements, including those for file naming. The PLOS ONE style templates can be found at https://journals.plos.org/plosone/s/file?id=wjVg/PLOSOne_formatting_sample_main_body.pdf and 2. Thank you for stating the following financial disclosure: [21FRKB003/The Post-funded Projects of the National Social Science Fund]. At this time, please address the following queries: a) Please clarify the sources of funding (financial or material support) for your study. List the grants or organizations that supported your study, including funding received from your institution. b) State what role the funders took in the study. If the funders had no role in your study, please state: “The funders had no role in study design, data collection and analysis, decision to publish, or preparation of the manuscript.” c) If any authors received a salary from any of your funders, please state which authors and which funders. d) If you did not receive any funding for this study, please state: “The authors received no specific funding for this work.” Please include your amended statements within your cover letter; we will change the online submission form on your behalf. Additional Editor Comments: Please revise as the reviewer 1 and reviewer 3 advised. Please compare the current knowledge mentioned with the findings and discuss thoroughly. [Note: HTML markup is below. Please do not edit.] Reviewers' comments: Reviewer's Responses to Questions Comments to the Author 1. Is the manuscript technically sound, and do the data support the conclusions? The manuscript must describe a technically sound piece of scientific research with data that supports the conclusions. Experiments must have been conducted rigorously, with appropriate controls, replication, and sample sizes. The conclusions must be drawn appropriately based on the data presented. Reviewer #1: Yes Reviewer #2: Partly Reviewer #3: Yes ********** 2. Has the statistical analysis been performed appropriately and rigorously? Reviewer #1: Yes Reviewer #2: N/A Reviewer #3: No ********** 3. Have the authors made all data underlying the findings in their manuscript fully available? The PLOS Data policy requires authors to make all data underlying the findings described in their manuscript fully available without restriction, with rare exception (please refer to the Data Availability Statement in the manuscript PDF file). The data should be provided as part of the manuscript or its supporting information, or deposited to a public repository. For example, in addition to summary statistics, the data points behind means, medians and variance measures should be available. If there are restrictions on publicly sharing data—e.g. participant privacy or use of data from a third party—those must be specified. Reviewer #1: Yes Reviewer #2: No Reviewer #3: No ********** 4. Is the manuscript presented in an intelligible fashion and written in standard English? PLOS ONE does not copyedit accepted manuscripts, so the language in submitted articles must be clear, correct, and unambiguous. Any typographical or grammatical errors should be corrected at revision, so please note any specific errors here. Reviewer #1: Yes Reviewer #2: Yes Reviewer #3: Yes ********** 5. Review Comments to the Author Please use the space provided to explain your answers to the questions above. You may also include additional comments for the author, including concerns about dual publication, research ethics, or publication ethics. (Please upload your review as an attachment if it exceeds 20,000 characters) Reviewer #1: This is a well thought out, well reasoned paper. I enjoyed reading it and I think it adds to our knowledge. The only comment that I have is making the definition of "high-fertility" scenario more clear earlier in the manuscript. The first time you mention "high-fertility" I would describe what that means in the context of this paper. A TFR of 1.94 is not high-fertility in much of the world, but is within the context of China. Just define it as soon as possible. Reviewer #2: This paper deals with predictions for the public pension fund of urban employees in China under various assumptions about fertility, economic growth and policy decisions on retirement age and pension growth rate. The results look interesting. However, the analysis/elaboration suffers from important shortcomings, such as details on the actuarial model used and the methodology applied to derive the projections. Also missing is an explanation of the public pension system in China and a justification of why only urban workers are analysed. Specific remarks: The paper concentrates specifically in China. This should be incorporated in the tittle. The paper states that the analysis is based on actuarial models for pension income, expenditure and accumulated balance, but does not make explicit or explain what these actuarial models are; in particular, what actuarial tables on future survival/mortality are used? Does immigration/emigration play no role in the evolution of the population in China? This aspect needs to be explained. The literature review in the Introduction section is too generic and should be more specific. On the other hand, the terminology used, ‘pension funds’, has different interpretations depending on the pension system in each country. The characteristics of the public pension system in China should be explained succinctly, which, from the subsequent development, seems to use only the pay-as-you-go system, so the term ‘pension fund’ may not be the most appropriate. In Section 2. First paragraph. The definition of the four groups into which the participants are divided is not clear and needs to be better explained, it is not sufficient to cite Documents No 26, 1997 and 38, 2005. Issues such as, for example, should be made clear: A person from the post-1997 employees group can also be a member of the post-2005 retiree group? Can a person from the post-1997 retirees also be a member of the post-2005 retiree group? In formula (1): Where does t start? What is t_0? If {AI}_t represents the pension income, for t>1997, why do we include the group i=1 which collects pre-1997 retirees? In formula (2): Where does the variable t begin and end? {\bar{B}}_{t,x}^i and s_{t,x}^i depend on x? The product \prod should end at t-1. In formula (3): Where does the variable t begin and end? {\bar{B}}_{t,x}^i and s_{t,x}^i depend on x? Is it possible that 1998-(t-x+a_t) becomes negative? The product \prod should end at t-1. In formula (4), r should be defined. Subsection 2.4: The assumption that “the age at first employment of urban employees is 20 years” should be better justified, perhaps using official statistics. This age is constant for all of the years included in the study? Which is the difference between “female workers” and “female cadres”? Given the large difference in the retirement ages of men and women, do expressions (1) and (2) take into account that the parameters a_t and b_t are different for each sex? How is this issue implemented in the calculations? Are the same parameters used for both sexes? The assumption that “the age at the average retirement age of urban employees is 55 years” should be better justified, perhaps using official statistics. The cohort component method used to predict the population distribution by age in urban and rural areas must be explained, at least in outline, and the predictions obtained should be shown in an annex. The number of pension contributors, the age distribution of pension recipients and the labor participation rates of corresponding age groups and also the number of pension contributors and pension recipients in the future. All these results should be shown in an annex. Why only two future fertility scenarios, and why not include a scenario of declining fertility? What are the values of c_t? Section 3. What is the ‘change in the population structure’ ? Describe this change. The authors should consider changing the presentation of the results, replacing some tables with graphs and leaving the tables in an annex. It would also be useful to create more elaborate tables that include summarised information: for example, first year of deficit occurrence according to the scenario. The introduction mentions different articles that make predictions about the China's pension fund gap. The results obtained in this paper should be compared with those of previous work. Although I have not checked the rest of the references, references 18, 23, 32 and 34 are incorrect. Reviewer #3: Reviewer Feedback Specific Comments: Regarding the statement: "If the pension system is not adjusted accordingly, China will use the equivalent of 10% of the same period’s GDP to subsidize the pension gap," could you elaborate further? Is this an obligation for the Chinese government as a lender of last resort? Is there a legal basis for this, or is it simply a social contract? Please clarify. For the claim: "Improvement in fertility levels can significantly improve the financial status of the pension fund, especially when the newborn grows and enters the labor market," is this policy always beneficial? For instance, if China pursues this policy, wouldn't it be akin to taking one step forward and one step back (e.g., considering the 1980s one-child policy)? Please expand on this. In "this study divides the participants of the old-age insurance system into four samples: pre-1997 retirees, post-1997 retirees, post-2005 retirees, and post-1997 employees," what was the rationale behind dividing the sample into these four groups? Was this based solely on the two government documents (State Council decisions), or are there best practices from other countries influencing this approach? Please elaborate. In "Pension Income Model, equation 1," could you explain what each variable represents? Additionally, why is pension income represented as a summation notation? It seems that pension benefits should vary across individuals, even within the same cohort. How did you simulate this? Please include further details in the article. For "the total number of current employees participating in social pension insurance in year t," individuals have varying contribution periods and cannot be generalized. As an economist (not an actuary), I would assume you used individual-level data to analyze this. Is this correct? Regarding "growth rate of contribution base in year t," is this actual data or an assumption? Was this rate determined by the government, or did you establish the assumptions yourself? Please clarify. For "total number of retired employees multiplied by the per capita basic pension in year t," this appears to calculate the average pension income as a simple product of two averages. Could you provide the data distribution? Is it normally distributed? Based on my experience, pension recipients are typically from the middle-to-upper income classes. I am unfamiliar with the definition of “basic pension” in China—does this mean everyone is eligible for the benefits? Is a basic pension equivalent to a universal pension scheme? Please explain. The mention of "i-class workers" is intriguing. Do you also distinguish workers by sector? Pension programs predominantly benefit formal sector workers, but what about informal workers or unpaid family laborers? In family-run Chinese businesses, for example, children often work without formal pay. Am I mistaken? The "Pension Accumulated Balance Model" appears to follow a simple accumulation method. Why is compound interest not incorporated here, as it typically is when calculating future value using discounting methods? In "It is assumed that the average retirement age of urban employees is 55 years," who established this assumption? For "Regarding the contribution rate of social pension insurance, enterprises pay 20% and individuals pay 8%," who covers the remaining contributions? The statement "the growth rate of the pension contribution base is directly linked with the economic growth rate"—whose claim is this? Is there a literature basis for it? "Table 2. Financial Status of Pension under a Change in Population Structure"—this table would be easier to understand as a multiple line chart. For instance, the statement "According to Table 2, it can be observed that the current pension balance shows a downward trend" suggests that trends are better visualized in graphs than in tables. The scenario "Financial Status of Pensions under Different Delayed Retirement Scenarios" seems to appear abruptly. How did you arrive at this scenario? Please explain. In "this study focuses on the impact," it may be better to avoid the term "impact," as it implies causality. Consider using alternative terms such as "simulation" or "forecasting." The conclusion section should directly answer the research questions. If there are four research questions, ensure the conclusions align with and address each one. The statement "we should focus on reducing pension growth and increasing economic growth, especially by postponing the statutory retirement age"—I agree that postponing the retirement age is the most manageable policy. Could you further elaborate on specific public policies related to your findings? For example, link them to existing regulations or real-world conditions. General Comments: Please adopt a deductive writing approach: start with a main topic sentence, followed by explanatory sentences. Limit each paragraph to a single main idea. There are numerous technical terms that might be difficult for general readers to understand. Consider providing simple definitions for these terms to aid comprehension. As an economist, I noticed several economic assumptions lacking sufficient references. For instance, the paper by Lu and Cai (2016) is over eight years old. Are their forecasts still relevant? Analytical tools could be better chosen. For example, trends are better analyzed with graphs rather than tables. The writing appears somewhat disjointed. For readers without an actuarial background, it may be challenging to follow. ********** 6. PLOS authors have the option to publish the peer review history of their article (what does this mean? ). If published, this will include your full peer review and any attached files. If you choose “no”, your identity will remain anonymous but your review may still be made public. Do you want your identity to be public for this peer review? For information about this choice, including consent withdrawal, please see our Privacy Policy . Reviewer #1: No Reviewer #2: No Reviewer #3: No ********** [NOTE: If reviewer comments were submitted as an attachment file, they will be attached to this email and accessible via the submission site. Please log into your account, locate the manuscript record, and check for the action link "View Attachments". If this link does not appear, there are no attachment files.] While revising your submission, please upload your figure files to the Preflight Analysis and Conversion Engine (PACE) digital diagnostic tool, https://pacev2.apexcovantage.com/ . PACE helps ensure that figures meet PLOS requirements. To use PACE, you must first register as a user. Registration is free. Then, login and navigate to the UPLOAD tab, where you will find detailed instructions on how to use the tool. If you encounter any issues or have any questions when using PACE, please email PLOS at figures@plos.org . Please note that Supporting Information files do not need this step.
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| Revision 1 |
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Change in Population Structure, Policy Adjustment, and Public Pension Sustainability PONE-D-24-42892R1 Dear Dr. MENG, We’re pleased to inform you that your manuscript has been judged scientifically suitable for publication and will be formally accepted for publication once it meets all outstanding technical requirements. Within one week, you’ll receive an e-mail detailing the required amendments. When these have been addressed, you’ll receive a formal acceptance letter and your manuscript will be scheduled for publication. An invoice will be generated when your article is formally accepted. Please note, if your institution has a publishing partnership with PLOS and your article meets the relevant criteria, all or part of your publication costs will be covered. Please make sure your user information is up-to-date by logging into Editorial Manager at Editorial Manager® and clicking the ‘Update My Information' link at the top of the page. For questions related to billing, please contact billing support . If your institution or institutions have a press office, please notify them about your upcoming paper to help maximize its impact. If they’ll be preparing press materials, please inform our press team as soon as possible -- no later than 48 hours after receiving the formal acceptance. Your manuscript will remain under strict press embargo until 2 pm Eastern Time on the date of publication. For more information, please contact onepress@plos.org. Kind regards, Agus Faturohim Guest Editor PLOS ONE Additional Editor Comments (optional): I appreciate your efforts to completely address all of the reviewers' requests. Congratulations on your article's strong statistical explanation and meeting all of the reviewers' revision requests. Reviewers' comments: |
| Formally Accepted |
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PONE-D-24-42892R1 PLOS ONE Dear Dr. Meng, I'm pleased to inform you that your manuscript has been deemed suitable for publication in PLOS ONE. Congratulations! Your manuscript is now being handed over to our production team. At this stage, our production department will prepare your paper for publication. This includes ensuring the following: * All references, tables, and figures are properly cited * All relevant supporting information is included in the manuscript submission, * There are no issues that prevent the paper from being properly typeset You will receive further instructions from the production team, including instructions on how to review your proof when it is ready. Please keep in mind that we are working through a large volume of accepted articles, so please give us a few days to review your paper and let you know the next and final steps. Lastly, if your institution or institutions have a press office, please let them know about your upcoming paper now to help maximize its impact. If they'll be preparing press materials, please inform our press team within the next 48 hours. Your manuscript will remain under strict press embargo until 2 pm Eastern Time on the date of publication. For more information, please contact onepress@plos.org. You will receive an invoice from PLOS for your publication fee after your manuscript has reached the completed accept phase. If you receive an email requesting payment before acceptance or for any other service, this may be a phishing scheme. Learn how to identify phishing emails and protect your accounts at https://explore.plos.org/phishing. If we can help with anything else, please email us at customercare@plos.org. Thank you for submitting your work to PLOS ONE and supporting open access. Kind regards, PLOS ONE Editorial Office Staff on behalf of Dr. Agus Faturohim Guest Editor PLOS ONE |
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