China faces population crisis with over 300 million pensioners

China is currently facing a population crisis as over 300 million people aged 50 to 60, constituting China’s largest age group, will retire within a decade, straining the country’s resources.

 

China’s elderly, like 72-year-old farmer Huanchun Cao and his wife, face uncertainties without pensions or adequate social safety nets.

Decades of economic slowdown, reduced government support, and the one-child policy have exacerbated the demographic challenge in Xi Jinping’s China.

The responsibility of caring for the elderly falls on families, but with fewer children and increased urbanization, many seniors lack adequate support.

Some, like 55-year-old Guohui Tang, turn to entrepreneurial ventures in elderly care, while others, like the Cao family, rely on traditional farming despite economic challenges.

China faces the prospect of a pension fund deficit by 2035, prompting discussions on raising retirement ages and addressing the widening gap in elderly care.

While some, like the residents of the Sunshine Care Home in Hangzhou, enjoy well-funded retirement facilities, many elderly struggle with meager pensions and limited resources.

As China grapples with its ageing population, individuals like Shuishui, a former businesswoman turned model, exemplify efforts to redefine ageing positively.

However, for millions like Mr. Cao, the reality is stark, with hopes pinned on family support and traditional lifestyles in rural areas.