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.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!