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Social security reform needed so benefit exceeds cost for workers

( China Daily ) Updated: 2015-05-21 07:47:20

Reports show that on average social security payments account for about 46 percent of a Chinese worker's salary, which is the 13th highest percentage among 173 nations. Comments:

The contradiction in China's social security, namely the high cost and low return, is caused by the unfairness in the system. For example, the State doesn't invest enough and relies mainly on collecting money from workers, while those paying more do not get a larger pension; the unfairness discourages many workers from joining the system, which in turn increases the burden of participants.

Beijing Youth Daily, May 19

Social security reform needed so benefit exceeds cost for workers

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