A pension shortfall is looming in China as the country is confronted by a rapidly aging population and slowing economic growth. The government has continued to raise the basic pension for urban retirees, as it has for nearly two decades, but is doing so in increasingly smaller increments, with the smallest ever addition made in 2023.
Caixin
China's pension growth wanes as population ages, workforce shrinks
Retirees concerned about reduced benefits, system's sustainability
China's pension fund system is coming under increasing strain as the country's workforce shrinks and the retiree population swells, with one expert predicting an inevitable shortfall. © AFP/Jiji
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