In addition to raising children to provide against old age, many Chinese elderly still have the traditional mindset of relying too much on government departments and their work units for their retirement.
Yue said the government should further boost investment to build homes for the aged, medical clinics and community facilities for the elderly to let them be properly cared for after retirement, when the pensions from the government are not able to meet expectations.
He added that the pensions should reach 80 percent of the individual's monthly salary before retirement, if the elderly want to enjoy their golden years.
Now only some civil servants and senior executives of State-owned companies can reach that goal after retirement, he said.
Many ordinary workers have very low pensions after retirement, he added.
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