New Pension System Changing China’s Traditional Family Structure

China's Pension System

China’s population is aging at an alarmingly fast rate.

Some 123 million of the country’s 1.4 billion people are over age 65, and a projected 330 million will reach old age by 2050. The need for additional services to care for the elderly in China, like everywhere, is a growing concern. To ease the increasing burden of elder care, China instated a pension program for rural residents, the New Rural Pension Scheme (NRPS). Begun in 2009, it is now the world’s largest pension system.