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News Link • China

Analysis: China slides faster into pensions black hole

•, By Aileen Wang and Koh Gui Qing

Guo, whose palms are thick and rough from a life spent hoeing fields in southwest China, is one of over 150 million people covered by a rapidly expanding rural retirement scheme which is accelerating the nation's slide into a pension crisis.

  "Fifty-five yuan a month is little, but it's better than nothing," said Guo, rubbing his head with his hands at his home in Ledu County, a village 3,000 meters above sea level in China's mountainous Qinghai province, bordering Tibet. 

Guo, though, is fortunate because he also has the financial support of six children. But for younger and future generations of retirees, China's traditional family safety net is disappearing, replaced by state-backed pension schemes tailored for a graying society.


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