Govt responsible for building healthy pension system for migrant workers

An elderly man sips tea and sits on a warm afternoon in Shanghai, Feb 2, 2015. [Photo/IC]

Less than one-sixth of migrant workers over 40 years old will enjoy a pension when they stop working, government figures show. And the problems in the pension system are casting a dark shadow over the country's economic and social development. Comments:

With the problems in the pension system becoming ever more serious, supporting people in their old age is not solely a matter of unified national planning, it also requires systematically clarifying the government's responsibilities and the boundaries of those responsibilities. It is the duty of the government to come up with both a catch-all pension system and to provide basic public services for the care of the elderly. As for middle and high-end care services for the aged, the government needs to design an institutional platform that offers room for private providers.

Southern Metropolis Daily, Oct 13

Migrant workers give cities vitality and that is beneficial to local governments, instead of trying to prevent migrant workers from accessing public services, they should adopt more inclusive and impartial policies that allow all residents to enjoy the fruits of urbanization. On the one hand, the supply of public services needs to be extended so they include migrant workers; on the other, family mobility should be encouraged and supported so as to maintain and enhance the integrity of families.

Yicai.com, Oct 12

The current problems lie in the fact that pension funds are distributed by provincial governments. The problems would be resolved if unified national planning was applied to the pension system. However, there is a long way to go before that can be realized. There have been voices suggesting that pension funds should be invested in the stock market to increase the fund, yet how to do so without suffering any loss remains a question.

Zjjzx.cn, Oct 13