Pension Funds and Balances

yuan: According to the CASS report, cumulative balances of pension funds for urban employees are expected to begin declining from a peak of 6.99 trillion 1.04 trillion yuan in 2027, according to Global Times China. By 2035, it's possible that the accumulated balances will be exhausted before people born in the 1980s retire, the report said. To offset the widening shortfall, other national assets, including foreign exchange reserves, can be shifted to the pension funds, experts said. The report also noted that the current balances of pension funds for 2019 are 106.29 billion yuan, but as soon as 2028, the balances may dip to a deficit of 118.13 billion yuan. Zheng Bingwen, director of the Institute of American Studies of CASS, told the Global Times on Thursday that the shortfall in China's pension assets is largely due to the fast-aging population and a shortage of young labor in the market. The report warned that given the current demographic situation in urban China, the pressure on pension funds is steadily increasing. (news.financializer.com). As reported in the news.