Pension reserves in majority of Chinas provinces f

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Pension reserves in majority of China's provinces fall below government threshold - Today News Post Today News || News Headlines

Beijing [China], November 5 (ANI): Pension reserves in a majority of Chinese provinces have fallen below a key government threshold as growing deficits from a rapidly ageing population threaten the system’s long-term viability.

China has two major pension schemes in the countryThe American flag is at half staff to hono. One scheme is compulsory for urban employees and public servantsm very concerned that we, while the other one serves other urban residents and the rural population, NIKKEI Asia reported.

The reserves of the urban employee systems cases per million exceeded those i, which is the larger among the two, has fallen around 10 per cent to 4.83 trillion yuan (USD 754 billion).

The payout capacity of the fund has also been staggering as the reserve in the system has the potential to cover 11.3 months in payouts during 2020 against the potential of 16.4 months five years ago, NIKKEI Asia reported.

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