The nation's low birthrate is an increasingly severe problem that will accelerate the aging of the population, increase the pension shortfall, and aggravate the gender imbalance.
For labor-intensive enterprises in China, the shortage of labor, which has been noticeable for a few years, continues to be a headache. But at the same time many migrant workers in their 40s and 50s are finding it increasingly difficult to get a job.
Opposing voices have followed the Ministry of Human Resources and Social Security’s June announcement that it will gradually push back China’s retirement age. But how much money can we receive after we retire? At what age should we start planning our retirement? Does China have enough money to fund its aging population?
The warnings of a possible future pension crunch may discourage people from putting their savings in a pension system that is as murky as it is unfair.
Chinese netizens on Monday expressed overwhelming objections to a suggestion on pushing back the country's universal retirement age to 65.
A local government promised to investigate a case in which more than 60,000 villagers were reportedly turned down when they tried to get their endowment insurance.
China launched a campaign aiming to provide pension insurance to all rural residents and unemployed citizens.
Workers in China are split over whether they would like to see the age of retirement raised, a suggestion that is up for discussion in the nation's social security plans.
On June 5, the Ministry of Human Resources and Social Security said it is going to gradually push back the retirement age to 65 years old. Is it a good idea to allow workers in China to retire at a later age? In what social context is the government’s push rooted? And what are some of the more fundamental problems existing in China’s current pension system?
Chinese legislators are mulling over introducing elderly guardianship in the latest amendment to the law on senior citizens' rights, given the risk of cognitive disability to the country's rapidly expanding older population.
A draft revision to the law on protecting senior citizens' rights and interests was submitted to China's top legislature Tuesday, in the wake of an increasing aged population.
Workers fear they may be pensioned off in their prime, He Na and Chen Xin report in Beijing.
A policy to delay the retirement age is under research but it does not mean the current regulation will be changed soon, an official of the Ministry of Human Resources and Social Security told People’s Daily on Tuesday.
Chinese authorities have said the country has no immediate plans to defer the retirement age.
The social security authority says it is considering the feasibility of postponing the retirement age. The message has stirred widespread concerns from working and retired people alike.
A government proposal asking people to work longer and draw their pensions later has sent China into a nationwide debate.
China's pension shortfall is expected to reach 18.3 trillion yuan ($2.87 trillion) by 2013, said a newly released report.
Extending the retirement age may be something the government has to do to alleviate the increasingly heavy pressure on pension funds.
Postponement of the retirement age is inevitable, said the Ministry of Human Resources and Social Security, adding that it will soon put in place policies that flexibly delay the age for receiving basic pension, reported Jinghua Times on Wednesday.
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