China’s Aging Population and the Challenges to Pension System
As of the end of 2023, China’s population aged 65 and above reached 217 million, accounting for 15.4% of the total population. This rapid aging has raised concerns about the sustainability of the existing pension system. The state-run Chinese Academy of Sciences predicts that the national pension system will run out of funds by 2035, even before considering the impact of the Covid-19 pandemic lockdowns of 2019 on the economy.
Shift towards ‘Raising Children for Old Age’
To address the challenges posed by the aging population, many elderly people in China have turned to raising children to look after them in their old age, a practice known as “raising children for old age.” This trend is driven by the low retirement pensions in many Chinese cities, with some as low as 2,900 yuan per month. Additionally, not everyone, such as farmers and the self-employed, has pension coverage.
Traditional Filial Piety and Modern Dilemmas
Traditionally, Chinese society has relied on filial piety to care for its elderly, with adult children having an obligation to support and assist their parents under Chinese law. However, the changing social and economic landscape has brought new challenges to this practice. Scholars argue that traditional expectations for children to care for their parents in old age can hamper the independence of the younger generation and worsen intergenerational conflicts.
Rising Opposition and Alternative Options
Some young people in China are opposing the idea of raising children solely for the purpose of old age care. They argue that this mindset deprives children of their independence and dignity. As a result, many are choosing alternative options such as DINK (double income, no kids) lifestyles or exploring long-term stays in specific locations with traveling groups, known as sojourn retirement.
Facing the Dilemma
Faced with the dilemma of an aging population and the challenges of the traditional pension system, Chinese seniors are exploring various options to alleviate the pressure on their offspring. However, the long-term implications of these shifts in family dynamics and caregiving responsibilities remain to be seen.
