According to the latest figure, China now has 100 million
people aged 65 or over, 5 times of the total population of
In provincial capital Hangzhou,
for instance, the latest figures released by the local statistics
show that a typical family structure is "4:2:1",
i.e. four elderly people, one young couple and a child.
The average life expectancy for Chinese, according to the
figure released in 2003, is 71.40 years. For a low ranking
public servant, when she retired at the age of 50 in 2004,
she collects a monthly pension of over 1100 yuans. So in
next 21 years, the total payment to her will amount to 300,000
yuans (about 37,000 usd, or 50,000 aud). Try to multiple
this with, maybe not 100 million, but half of it.
In face of the increased economic pressure caused by the
society, China is reportedly looking into a possibility
of delaying retirement age.
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