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What is the current situation of pension in China? Analysis on the current situation of pension in C

On the 27th, the draft amendment to the individual income tax law was submitted to the fifth session of the 13th NPC Standing Committee for second deliberation. It is noteworthy that the draft decision expands the expenditure of supporting the elderly, which is of high social concern, into the scope of special additional deduction. What is the current situation of pension in China? Let's have a brief understanding of China's current pension situation in 2019.

The Constitution and Law Committee of the National People's Congress, after synthesizing various opinions, said that allowing the pre tax deduction of expenses for supporting the elderly aims to promote the traditional virtue of respecting and filial piety for the elderly, and fully consider the actual situation of China's aging population, the majority of only child families in the working class, and the heavy burden of supporting the elderly.

At present, China has become the country with the largest elderly population in the world. According to the latest data of the National Bureau of statistics, in 2017, there were 240.9 million people aged 60 and above, accounting for 17.3% of the total population, including 158.31 million people aged 65 and above, accounting for 11.4% of the total population. When the elderly population over 60 years old accounts for 10% of the total population of a country or region, or the elderly population over 65 years old accounts for 7% of the total population, it means that the population of this country or region is in an aging society. The proportion of the elderly population in China obviously exceeds the standard.

In recent years, the number of elderly people over 60 years old in China has been growing. In 2013, it exceeded 200 million, accounting for only 14.9%. In 2017, it reached 240.9 million, accounting for 17%. With the deepening of population aging, China's aging population will further increase in the future.

The main supply body of China's pension institutions is public pension institutions. The development of other forms of pension institutions is insufficient, and the supply of beds is small, which can not fill the supply gap left by public pension institutions. In 2016, there were 28500 elderly care institutions in China, with 7.8 million beds and 33.8 beds per 1000 elderly people. There is a big gap compared with the number of beds in developed countries. There is a big gap in the demand of the elderly for pension institutions in China. The supply of beds in pension institutions is far less than the demand, and the contradiction between supply and demand is very prominent. It is estimated that by 2018, the number of pension service institutions in China will exceed 30000.

As China's pension industry has just begun to develop, there is no real mature model, and there is no listed company with pension industry as the main business. As an emerging market involving a wide range, pension industry needs to be further developed. According to the white paper on the development of China's pension Industry issued by the Chinese Academy of Social Sciences in 2016, it is estimated that China's pension industry market will reach 13 trillion yuan by 2030.

Therefore, whether from the perspective of business opportunities or the needs of the elderly, pension has become a new "outlet" for capital to chase. There are many market segments of pension industry, including pension real estate, pension finance, pension services and elderly supplies. Capital flocks to pension industry.