Abstract: As the privatization of the pension system,British government has established multiple systems that support pension, with the government playing a key role in providing pension for the poor aged citizens. At the same time, China initiated the reform of welfare system,with the single pension system transferred to multiple pension systems. However,the current pension subsidy is insufficient. Research shows that British government has taken various steps in different times to help the poor aged citizens since in the reform of privatization, which shows that the British government has fulfilled its duty. The measures that British government employed in the reform have made national pension system more accessible to the poor aged citizens,which can serve as an example for China to follow in a solving its problems in the reform of pension system.

Key words: pension system, privatization, the politics of party, capital market, the responsibility of government