Beijing pension system likely to dry up by 2035

  • Business Premium
  • Friday, 12 Apr 2019

BEIJING: The pension system providing the widest coverage to China’s retirees may burn through its savings by 2035 as the world’s largest population ages, according to forecasts by a leading government think tank.

Cumulative savings in the basic pension fund that covers urban employees would peak at about 7 trillion yuan (US$1.04 trillion) in 2027 before dropping sharply, the state-run Chinese Academy of Social Sciences said in a report.

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