Why Millions of Young Chinese Are Refusing to Make Pension Payments
Big Take Asia
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Understanding China's Pension System
This chapter explores the intricate structure of China's pension system, focusing on its three main pillars: the mandatory government-funded basic pension, the voluntary corporate pension akin to a US 401k, and the nascent individual pension system. It emphasizes the challenges and uncertainties surrounding these systems, particularly the lack of guarantees in the basic pension plan at retirement.
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