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On February 25th, 2023, the former President of China’s central bank admitted that the existing pension base is not good because of the large and aging population. It makes it easy to have a shortage of pension funds and will need to rely, to a greater extent, on “personal pensions” to supplement it in the future. The former president was likely letting the public know, testing the waters for the new policy.
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CCP’s New Move for Retiring Pension and City Council Reveals Secret of Why Pensions Are Losing Money
The Chinese Communist Party (CCP) has recently implemented a new measure regarding the retiring pension system, in a bid to address the issue of pensions losing money. At the same time, a city council has revealed the secret behind the declining state of these pension funds.
Retirement pensions are a crucial social security measure, ensuring financial stability for individuals after they leave the workforce. However, in recent years, many pension funds across the world have been facing financial difficulties. China is no exception to this trend, and the CCP has taken notice of the alarming situation.
In its new move, the CCP aims to tackle the issue of pensions losing money by introducing various measures. One such measure is increasing the retirement age gradually. Currently, the retirement age for most Chinese workers is 60 for men and 55 for women. However, this will change as the retirement age will be extended in steps to 65 for men and 60 for women. This move is expected to alleviate some of the financial burdens faced by pension funds.
Moreover, the CCP plans to promote a diversified investment approach for pension funds. This means that in addition to traditional investments like government bonds, equities, and fixed deposits, pension money will also be invested in sectors such as infrastructure development, technology, and emerging industries. By diversifying the investment portfolio, the CCP hopes to generate higher returns and strengthen the pension system.
While the CCP takes steps to address the loss of money in pension funds, a city council has revealed a shocking secret behind this predicament. The council uncovered a series of corrupt practices that have contributed significantly to the financial decline of pensions.
According to the council’s investigations, several senior officials involved in managing pension funds have been engaging in fraudulent activities. Misappropriation of funds, embezzlement, and risky investments without proper due diligence have all contributed to the dwindling state of these funds.
The city council has called for strict accountability and punishment for those responsible for these corrupt practices. It is imperative to restore public trust in the pension system by rooting out corruption and establishing transparent governance structures.
The revelation of these corrupt practices highlights the urgent need for proper oversight and regulation in managing pension funds. It is crucial that governments and institutions involved in managing retirement pensions prioritize transparency, accountability, and ethical practices. By doing so, they can ensure the security and stability of these funds, which directly impact the lives of retirees.
The CCP’s new move for retiring pension, coupled with the exposure of corrupt practices, serves as a wake-up call for countries around the world to tackle the issue of pension funds losing money. It is essential to adopt various strategies to safeguard these funds, including diversifying investment portfolios, implementing stricter regulations, and demanding accountability from those managing the pension system.
A robust and sustainable pension system is vital for guaranteeing a decent living for retirees and maintaining social stability. As governments and institutions take steps to address these challenges, it is essential to prioritize the interests of the people and ensure the long-term viability of the retirement pension system.
No banking is safe so no one deposits money into banks. How long until complete financial collapse of the system then? art
Xi already tried to kill off the elderly with Covid and lock downs and then allowing the virus to spread uncontrolled. It looks like there are still too many elderly that need money so now Xi will need a new plan to save the money for the party to continue. art
she gets 230 a month and saves 730 a month, not bad
I live the wealthiest country in South East Asia. Many of my fellow 70 to 80 +years country man still working as cleaners. It is normal.
There is big belief in Western governments that Chinese birthrate is currently lower than being reported. With some estimates certain areas of China have had zero births for months at a time. It should also be stated that some think CCP is planning on mostly ditching paper money. So that most Chinese have to have banks as the money will only be electronic.
Future pensioners are being duped into paying money into a government fund, with no assured investment return, then pay tax on withdrawal and not know if there will be anything to withdraw. And no option to withdraw early if the trends are looking bad. Why haven't they got rid of the CCP yet?
This the real china …. all those Chinese billionaires should be helping , all those CCP members are millionaires. WTH is going on ?
Most Western countries addressed that decades ago. Compulsory Superannuation was made law in Australia before China's 1 Child policy.
https://www.youtube.com/watch?v=mRICAFzPDHs Now in USA !
Communism is not about money? In communism, everyone is the same. Everyone gets paid the same.
At this point, it seems western society in general are more communist than Communist China itself.
Here's an alternative to do, if no longer trust govnt or banks. Save a certain amount monthly, then after a year, buy gold. Keep it in a safe place. Repeat
They could also cut leaders salaries. But they NEED their big money for their big cars and homes. The two sessions is a waste of the peoples money, but HEY, they know what they're doing ha ha ha
The CCP has been stealing 90% of the money people put in their retirement fund.
What a mess.
Like American retirement into general revenues and then spent on a special bug study
this sounds like usa. Ccp is following usa steps. Either country screw up their citizens while making rich the elites.
no wonder why ccp wants the reserve currency to solve their insolvency near future problems. The current solution of having ccp as the reserve currency is wordt that us dollar. Ccp will control EVERYTHING
CCP Government is the New Chinese Imperial Royalty
Just like any other country, the poor always suffer. Sucks to be poor
Pensions even in the US are jokes to lol. Greed and corruption and no oversight at all. Yet people keep voting for these two party gang system and then complain lol.
Talks about the elderly, shows clips of them lifting weights and working out at a park in the middle of winter lmao.
96 million CCP (government workers) draining the funds from the more than 1.2 billion Chinese citizens !!!….. WTF are the citizens doing, just keep your mouth shut??? pity…. the CCP don't give a rat's ass about your conditions…. they take good care of themselves first… it's going to get worse…. jobs has been moved to different countries now, your economy is going to the latrine…. more "lying flat" an 'let it rot" will surely bring down the country…..
Its the same for public employees in the USA. They get the absolutely best pensions.
The CCP has absolutely no idea what it's doing.
hold on what? the wife of that 70 man at 4:12 is saying they own 3 ares of land and sub landed out for other to farm to collect rent? Where did they get the land from, does it affect their retirement amount, this report doesn't tell us the full picture of things, how does it all work in China.
Money stealed from pensioners used to steal the neighbor's land.
The Chinese sit and watch and their young 'let it rot' while monks in Tibet burn themselves and the ccp builds concentration camps for Uighurs. Their problems are the ccp of course but also charma, the boomerang that comes back.
The lady just becomes an organ donor or PLA sex toy.
Winnie-the-flu was a test run. The next lab accident (oops) will release something far more devastating to old people.
Lots of poor elderly in China now. Young people in China now will be very poor retirees by the middle of the century. Their miserable situation partly made by the One Child Policy. Work until you drop dead of it is the motto of the CCP, if it's still around by then.
Isn't it much worse in the United States? Communism is better
They spent the money like the US did with their pensions.
Our great chairman for life will fix all, long live Mr Chairman!
There is nothing like a communist government … right?
The CCP's pension plan is using the COOF VlRUS to wipe out most of their old people. Tens of millions are gone, no joke, they're literally using it to wipe out their own people on purpose. It's a number so massive that no way in a million years would they tell you the real number. I would dare even say over a hundred million or more.
The stock market has been a really tough one this past year, but I watched an interview on CNBC where the anchor kept mentioning "KATRINA VANRENSUM ". This prompted me to get in touch with her, and from August 2022 till now we have been working together, and I can now boast of $540,000 in my trading portfolio.
The higher ups probably took the fund for themselves.