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          Paying respect to elders

          (China Daily)
          Updated: 2006-10-23 09:17

          China will now take measures to bolster the country's social security network. The country's top policy-makers earlier this month appropriately linked a good social security network to equity, justice and the building of a harmonious society. A commitment has been made.

          One of the first steps the government should take is to increase pensions and provide more medical benefits for retirees in cities. These senior citizens spent most of their working years during the era of the planned economy, when workers were significantly underpaid but enjoyed a cradle-to-grave welfare system. The old welfare system was gradually scrapped since the 1980s.

          Progress of the construction of a new social security network, financed jointly by the State, employers and employees, has been painfully slow.

          Universal coverage in cities has not been achieved. In regions where the system is already working, the benefits are generally low. The retirees, naturally, are among those who are most vulnerable to the unfavourable change.

          Chen Shu, a veteran actor who starred in Bernardo Bertolucci's 1987 film "The Last Emperor," highlighted the retirees' plight.

          Chen passed away last week at the age of 86. While his fans lamented the death of a respected artist, they also felt sad about his depressing life during his final years: He had to live on a pension of 1,100 yuan (US$135) per month in Shanghai, one of the most expensive cities in the country. His family had to borrow money to pay for the bulk of his medical expenses because only a small portion of his medical expenses could be reimbursed under the existing social security system.

          The standard for pensions and other benefits have been somewhat raised during recent years. But they are still low. The wealth created by Chen's generation was definitely worth more than the income and benefits they received. The country owes a debt to them.

          The State coffers, teeming with swelling fiscal income and foreign exchange reserves, are now capable of allocating money to pay at least part of that debt.

          Improving the social security system is a huge project that should be undertaken step by step. But the retirees' welfare enhancement is an immediate imperative.

          Most of the people of the older generations experienced much hardship during their life - wars, starvation and turbulences.

          In a society that champions equity and justice, it should not let their senior citizens spend their final years in misery.

          (For more biz stories, please visit Industry Updates)

           
           

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