Pension system in modern China. Is there a pension in China?

China is a huge country with a rich past and an equally rich present. China is a country that has given the world paper, printing, gunpowder, silk and many other things that people need to this day.

Are there pensions in China?

This is now a very urgent issue.

The culture of China begins with a deep antiquity. In our time this is a very developed country, practically in all areas of industry and national economy. In the Chinese civilization, the social and political activity of each person was very high. At the moment, the population of the retirement age is more than 170 million people. You can say the country is getting old.

Prohibition of the birth of a second child

This is the main problem of China. The country even carried out reforms to ban the birth of a second child. He could have been born only if the first was four years old. At the same time, it is necessary to pay a considerable fine to the state. The reduction in population growth has affected the fact that the state has no opportunity to help the elderly residents of the country.

Artificially undermined assistance to parents - the main duty of daughters and sons, which evolved over the centuries. The pension in China does not meet the level of development of the country.

Accumulation system of pensions

To apply the accumulative system of pensions began in the early 21st century. But this system was not very effective. Social guarantees worked for themselves in detriment. This issue was toughly decided at the state level. The government carries out a constant struggle against corruption, so that the accumulative part of each pensioner will increase. This is one of the priority directions of state policy.

As it was before?

Initially, the pension in China was appointed exclusively for the government and civil servants. In 2007, only 30% of the population received a pension (the rest were provided by their children in the old manner). In 2009, the Chinese authorities made a system whereby citizens living in villages received pension payments. Already in 2012, 55% of the population receive a pension. The pension system depends on whether a person works for the state or not.

How pensions are calculated in China for old age?

For today, everyone gets a pension in China. Village residents receive a very low pension, approximately 9-17 dollars. Older parents have children. The main task of children is caring for their parents, the government believes. Therefore, agricultural workers are very afflicted. If the state will spend money for the maintenance of pensioners, then there will be no development of the country. This is because the number of people of retirement age exceeds the number of people working.

Retirement age

Women are retiring at the age of 50. Managers - 55 years. And at the age of 60, people are male. Employees in the sphere of industry and civil servants receive pensions. Obligatory work experience is 15 years. During this time, the employee makes deductions. There are enterprises that specifically accumulate a pension fund, so that the payment of pensions to their employees is carried out in full.

In the Middle Kingdom, pension payments are pawned in the city social protection labor office. In these bodies, the implementation of reforms is very rare, but if it passes, it is rather difficult. Methods of pension security do not work.

The amount of pension

Civil servants or workers of the industry monthly transfer 11 percent, of which 7% are carried out by the employer and 4% by the employee himself. Pensions are paid monthly and without delay. This is 20% of the average wage level. The pension in China for old age is about 240 dollars a month. It is long overdue for the need to implement pension reforms.

And already in 2017 will consider the law on increasing pensions in rural areas. The government wants to introduce a mixed pension, which will depend on the contributions of the employee himself. Also plan to increase the retirement age. The government now spends 40% of the budget revenue. The pension fund deals with the storage of citizens' money, but it also has the right to buy shares of state-owned companies, which ensures the safety and increase of funds.

Example calculation

The pension in China of the ordinary working class is calculated as follows:

- First consider the experience (so, 1 year - 100 yuan to retirement);

- then added 1/120 is the accumulated part;

- payment is made to people who worked until December 31, 1997 (125 yuan);

- payment for harmfulness and length of service at the enterprise is added.

Employees of offices in the capital with a salary of 10,000 yuan a month in thirty years will receive a pension of 3,400 yuan. State employees pension payments increase once a year (about 300 yuan). Also, China plans to raise 15% of the pension to war invalids and veterans of the Red Army in 1927-1937.

Not paying attention to state notices and damaging the work of the pension fund, many citizens keep money on personal savings books.

The foregoing indicates that the country is going into a financial abyss. This is the opinion of many experts. By 2050 the number of pensioners will increase to 500 million in the Middle Kingdom. But China is coping well with these difficulties. The state of the country uses all the necessary measures for the development of the pension system.

Citizens of small provincial towns and rural areas do not know about pension payments, this news was not covered anywhere. Such a thing as the payment of pensions is not known to them.

Before this people of retirement age who were not part of the labor force, provided ideological communities. But to date, after these communities were dispersed, the pensioners began to provide their own children.

In this country, family relations and values are pretty strong, so the children of their old people do not leave without help. Thus, regardless of the place of residence, the main thing is the desire to replenish the family. Many do not pay attention to state bans, because a child in old age will provide.

Now it became clear what kind of pension in China.

What today?

To date, the Chinese government has not ceased to think that it is necessary to bring global security. This scheme is an opportunity to pay a pension to every elderly citizen and a pension for disabled people. The amount of payments directly depends on wages and length of service.

When China creates such a method of pension security, older people will no longer depend on children, and one of the fundamental problems of fertility will disappear. Thus, the population in China will begin to decline. On the birth of a child, his training and becoming on his feet will not have to be spent. Thus, you can live for yourself and yourself in pleasure, without forking over the younger generation. This is now a pension in China.