Why Millions of Young Chinese Are Refusing to Make Pension Payments
Big Take Asia
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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