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Dialogue 07/12/2012 China's dilemma in extending retirement age

07-13-2012 04:31 BJT

China may raise the country''s retirement age by the second half of this year, according to an announcement from the Ministry of Human Resources and Social Security, the country''s labor authority, amid concerns about a ballooning deficit in pension funds and dramatic increases in the nation''s elderly population. By keeping more people in the work force, the government undoubtedly hopes to expand the country''s pension fund pool and thus downsize what it pays out to retirees. Such a move would, if anything, only provide a short-term solution to what is in fact a systemic problem. The most pressing issue facing China''s pension system is not a lack of incoming funds, but the low returns on pension fund investments.

Editor:James |Source: CNTV

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