Social welfare

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As Population Ages, Pension System Feels Strain

The Economist details the challenges facing China’s pension system, which has grown considerably in the last several years but still must grapple with a number of structural inefficiencies: Unlike individual accounts in...

China’s Pension Fund Hits 400B Yuan – Xinhua

From Xinhua via China Daily: The value of China’s social security fund had reached 400 billion yuan (US$53.3 billion) by the end of June this year, said Wang Zhongmin, deputy director of China’s National Council for Social Security Fund (NSSF). The security fund reported a profit rate of 15.2 percent in the first half of […]

Retirement age gap proposed to be shortened – Chinanews

From Chinanews.cn: Chinese scholars proposed recently that China should not only delay people’s retirement age to 65 or even older, but also shorten the retirement age gap between male and female. It is learned that the average life expectancy of Chinese people has risen by more than 20 years since the founding of the People’s […]

Poor Rural Elderly Deserve Attention – China Daily

From China Daily: A 71-year-old vagrant who sought to spend his remaining years in prison has aroused widespread concern over the well-being of China’s 120 million elderly people, particularly the 90 million in rural areas who often fall through the welfare safety net. With no home and no money, Li Zhaokun decided prison was the […]

Beijing urged to overhaul welfare system – Richard McGregor

From The Financial Times: China must urgently address the nation’s looming pension and healthcare crises while government has the financial resources to tackle them, says Zhou Xiaochuan, head of the central bank. Mr Zhou, governor of the People’s Bank of China, called for a mix of private health and pension insurance and cash support for […]

Interview: The state of welfare – China Development Brief

From China Development Brief: When a worker is laid off, are his/her social insurance payments maintained, to ensure that s/he is entitled to future benefits – such as a retirement pension? What agency assumes responsibility for these payments? ZHANG: Yes, the social insurance payments are maintained. The District Bureau of Labour and Social Security will […]

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