China. Urban pension funds likely to run out by 2035: Chinese Academy of Social Sciences
Pension funds in China could run out before workers born in the 1980s retire, according to a report released by the Chinese Academy of Social Sciences on Wednesday.
According to the report, pension funds for urban employees are expected to begin declining from a peak of 6.99 trillion ($1.04 trillion) yuan in 2027. By 2035, there is a possibility of exhausting the accumulated balances, before people born in the 80s retire, the report said.
The report also noted that the current balance of pension funds in 2019 is 106.29 billion yuan, but the balance may dip below zero to 118.13 billion yuan in deficit in 2028. The report warned that given the current demographic situation in urban China, the pressure on pension funds is steadily increasing.
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