Chinese retirement system? 10 points for the best advice. Thank you?

Question

Can you tell me about retirement system in China. Since the Chinese government established One Child Policy I would assume--there are much more elderly polulations (Retired persons) than young polutations (Working persons). Is this an issue discussed the Chinese government and its people?

Thank you.

Answer 1

I copy them from the CONSTITUTION OF THE PEOPLE'S REPUBLIC OF CHINA

Article 44

  The state applies the system  of  retirement  for  workers  and  staff  of

  enterprises and institutions and for  functionaries  of  organs  of  state

  according to law. The livelihood of retired personnel is  ensured  by  the

  state and society.

Article 45

  Citizens of the People's Republic of China  have  the  right  to  material

  assistance from the state and society when they are old, ill or disabled.

  The state develops social insurance, social relief and medical and  health

  services that are required for citizens to enjoy this right.

  The state and society ensure the livelihood of  disabled  members  of  the

  armed forces, provide  pensions  to  the  families  of  martyrs  and  give

  preferential treatment to the families of military personnel.

  The state and society help make arrangements for the work, livelihood  and

  education of the blind, deaf-mutes and other handicapped citizens.

Answer 2

it's already become a problem, China's social security system is to limit the working years to at least 15 years, then you can have pension, it's subtracted from your monthly income, the problem is the population of children under 14 has represented only about 19% of entire population in 2008, and it's still  decreasing rapidly now, actually accelarated...in big cities like Shanghai, the data is only about 10%, which means China will face a severe pension shortage within 20 years.

Too bad, we haven't had a solution yet though we've been discussing this issue for years.