Pensions: Yuan and Spending Money

pensions: After retiring from a factory in Beijing, Zhang and his wife have spent 30,000 yuan 4,241 to 40,000 yuan each year on their travels, according to Global Times China. Their annual pensions add up to roughly 72,000 yuan. Having already made two trips this year - one to the island of Taiwan and the other to Shanxi, he is now planning another tour. We don't worry too much about spending money on things we want, because we have pensions and medical insurance, which make us feel secure, said Zhang. As we respond proactively to the aging population, we will adopt policies and foster a social environment in which senior citizens are respected, cared for, and live happily in their later years, By the end of 2018, China had a population of 249 million aged 60 or above, larger than any other country and accounting for 17.9 percent of the national population. China's senior citizens like Zhang are behind the development of the silver economy in the rapidly aging country, as the government attaches greater importance to elderly care. (news.financializer.com). As reported in the news.