The article will discuss whether there is a pension in China. It is important to make a reservation right away - this question belongs to the category of complex ones. In the Middle Kingdom on this issue, everything is ambiguous. So, let's try to figure out if there is a pension in China, that is, a pension system.
Pension issue in China in the past
China's pension system is not fair. More recently, in China, it was paid only to officials and employees of state-owned companies.
The implementation of market reforms has allowed the Chinese pension system to reach citizens involved in private entrepreneurship. But even this made it possible to count on payments to only thirty percent of the elderly.
The remaining Chinese retirees (mainly from rural areas) continued the traditions of their ancestors: they were kept by their children.
Adherence to traditions has always contributed to strengthening family ties, caring for older family members is taken for granted. Therefore, if you ask in the countryside whether there is a pension in China, then most likely you will not receive a specific answer due to its ambiguity.
Pension issue in China today
Today, China is faced with the result of an erroneous demographic policy of the 70s of the last century.
As you know, at that time the Chinese authorities imposed a birth control. As a result, today in the country there is a sharp aging of the population with a simultaneous reduction in youth, whose shoulders are traditionally entrusted with the maintenance of elderly parents.
China today is the leader in the world in the number of pensioners.
How many Chinese will retire in 20 years and whether the state can provide them with a decent old age is a question that the authorities are facing today. Already today the deficit of the country's pension system is "eating up" up to 40% of state budget revenues. Analysts say the amount of $ 11.2 trillion, which will be the deficit in the PF by 2033.
Chinese demographers predict a situation where only two residents will work for one pensioner.
Unpopular measures loomed on the political horizon of China, in particular, raising the retirement age.
Chinese retirement age
It is interesting that the retirement age in the Celestial Empire varies by industry and region.
Today it is 60 years for men, and 55 years for women working in the administrative field. Physically employed women have the right to retire at 50. This age system has been around in China for half a century. At that time, life expectancy in the country averaged approximately 50 years.
Currently, this figure has increased. Men live on average up to 75 years, women - up to 73.
In this regard, the Ministry of Labor and Social Security of China came to the government with a proposal to gradually increase the retirement age, starting in 2016. For less than 30 years, it is proposed to equalize the age of men and women eligible for retirement. If this is realized, then in 2045 the Chinese will go on a “well-deserved rest” at 65.
What do Chinese pensioners live on
Of course, the first and main question for pensioners in any country is the question of what size of pension payments.
In China, pension accruals depend on where a person lives (in a city or village), as well as on who he works for (state or private company). There is no single basic pension in the country.
The average pension in China at the place of residence differs significantly at one and a half thousand yuan for citizens, for villagers - from 55 to 100 yuan (pensions in the village were introduced only in 2009). State pension is about 20% of the average salary, villagers - 10%.
The basis for obtaining a minimum pension for civil servants is a 15-year work experience at a state enterprise, as well as deductions of 11% of salary to the state pension fund (PF). For state employees, deductions to the Pension Fund are carried out by the state; the size of the pension is tied to salaries in the public sector.
In the private sphere of labor, everything is somewhat different: the employee sends 8% of his salary to the Pension Fund, 3% - the employer.
In some regions of the PRC, the size of the pension is formed at enterprises where the employees themselves accumulate savings for future old age. In the future, the organization pays them pensions based on the amount that has been collected during the work.
Chinese retired about retirement
Does China have an old-age pension? If you ask this question to the Chinese themselves, then you can hear in response that every fourth person who has reached the age of 60 receives it in the country. This is confirmed by the statistics of China.
However, it seems that the Chinese themselves are not particularly interested in the question: “Is there a pension in China?” Here, apparently, the mentality of people who honor the traditions of their ancestors is affected. For thousands of years, the Chinese have lived, hoping only for themselves and their loved ones. Being initiative by nature, they do not have problems with socialization, they do not need outside help. For the Chinese, retirement is the time when the soul sings, because it is free from previous worries.
The fact is that elderly people in the Middle Kingdom no longer value the financial component of pensions, but the normal attitude of loved ones and society as a whole.
Having gone on a well-deserved rest, the Chinese are actively striving to make up for previously missed time for rest. Their favorite pastime is dancing in the evening. On the grounds in the parks, near the metro and even on the road, you can see pensioners dancing not only a folk dance with fans for drums and tambourines. Older people do not disdain waltz and tango either.
By the way, this hobby often brings income to the most prominent retired dancers: speaking at festivities and corporate parties, they get a certain fee for this.
A new hobby for senior citizens of China has become domestic and foreign tourism. This contributes to the development of the tourism sector of the country's economy, and life in retirement makes it even more interesting. Therefore, to the question: “Is it interesting to live in retirement”, the older generation of Chinese people will unequivocally give the answer “yes”.
China in search
China's pension system, its strengthening is not an easy question. The prerogative in its decision is given to the state.
As history shows, the country has always found a way out of difficult situations. Today, the PRC government is in search of models that allow more flexible management of the pension system. Therefore, the question of whether there is an old-age pension in China can be classified as rhetorical. Of course there is.