China’s ageing population is a key metric that needs to be addressed in framing retirement policies in the next few decades. This plight is epitomised by the fact that the proportion of elderly in the country’s second largest city Shanghai hit 24.5% in the end of 2011, significantly higher than the average of 10% amongst other countries facing this issue.
To be sure, China’s retirement system is still in its infancy. As it stands, the multi-tier pension system’s coverage is inadequate to support retirees nor provide a buffer against inflation.
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