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Explainer | China’s unique retirement plan: why children still matter when it comes to support in old age

  • For centuries filial piety has formed backbone of China’s elderly care system
  • As society changes families look for new ways to ease seniors through old age

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As China’s population continues to age, the long-held tradition of children forming the backbone of retirement plans perists. But things may be changing, as the Post explains. Photo: Shutterstock

At the end of last year, the number of people in China aged 65 and above reached 217 million, making up 15.4 per cent of the total population.

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This has led to concerns that with rapid ageing, the existing pension system may fail to keep pace.

As a result, elderly people have turned to raising children to look after them in their old age.

This is commonly known as yang er fang lao. Here, the Post explains the phenomenon.

What is it ?

Simply put yang er fang lao is the process of raising children so they can offer the seniors support in their later years.

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The state-run Chinese Academy of Sciences predicts that the national pension system will run out of funds by 2035.

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