September 8, 2010

CHINA: Who will support you when you retire, China Daily asks one child parents

BEIJING, China / China Daily / Forum / September 8, 2010

One child parents,who will support you when you get retired?

fluffylufy: For the old generation normally got their childrent to support when they are too old to work,2 or 3 children are very common in that times.Now,with one -child policy of Chinese government,how the parents will do to prepare their old age times? It is not a piece of cake for the young generation.
cindy1225:  I will take care of myself when I am old. Whether go to the home for the aged or live alone in my house, either is not bad option for me. I don't want to be a burden to my child, since it is hard for him to live in the society. Houses, work, life can all add to his concerns.

OldDeng:  You are right, it is better the parents take care of themselves because they have more time to work at it. My brother in Beijing and his wife, a school teacher was given an apartment for their retirement. they seem ok looking after themselves.

It is harder and harder for the next generation to make it. They are more competitions, more and more to share limited resources.

In most western countries, some have company pension, then government pension plus personal investment returns. they are well looked after

OldDeng:  I forgot the country folks. They are totally different than city slickers. They do depend on their children to support them especially in farming. Rural folks usually go to big cities to find job and send money home.

However, the government is moving into the less developed areas to bring about balance growth improving the living standards for rural folks as well. That is far-sighted move.

pasuisme: couples with a child take a lighter burden , their accounts in banks can support their life after retire,what's more ,they will take the pension.

so, i think it's ok to have only one child.

shimy2005:  With the pension and saving,I think it is ok to survive. We won't give much pressure on our child.

But with only one child,it is difficult for him/her to take care of the parents well,especially when the olders are sick.

polaris1120:  my parents say they will go to a nursing house if they're seriously sick and i cannot take care of them anymore. i know they really will do that and i support their idea although traditionally, only people without offspring live there. but my parents don't think so, they believe they have enough saving to live in a good nursing house with qualified workers and establishment

i think chinese people don't like to go to nursing houses, because they don't have enough money and the service in normal nursing houses isn't good. and, people think it's only children't responsibility to take care of their parents. they aren't filial if they send their parents to nursing houses even though they can receive better treatment there.

ProfBob: Retirement ages must be raised

With people living longer and with families less able to support the elderly for 30+ years, retirement ages must be raised and workers must contribute more for their pensions.

And people wonder why Social Security and Medicare are in trouble. If you work 45 years, retire at 65, and collect pension payments for 20 more years would have had to put in about 40% of your wages during your lifetime to pay for yourself. Retirement ages must be increased to make sure that workers contribute enough to pay for their pensions. Age 60 or 65 is far too young with today's life expectencies. Denmark is doing something about it, so is Norway. The ideas if paying for retirements is discussed in the popular free ebook series "In Search of Utopia" ( Books 1 and 4 as I remember. We have got to be more economically realistic.

23sheep: for our next generation,we had better take good care of ourselves from now on,don`t be regretful for the diseases in the future.

seneca: Don't buy home properties as speculation investmentbecause with falling birthrates there will alsobe diminishing buyer hordes for your apartments - so the resale prices will plummet.

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