Retirement Plans
What is the retirement ages for men, women, and blue collar workers in China?
60, 55, 50.
What is one of the challenges to care facilities in China?
Lack of staff
What is hukou?
Household Registration System
How many players are there in Mahjong?
4
True or False: The Public Pension system is encouraged through tax incentives to help citizens take more control of their retirement planning.
False. The Public Pension system is government managed and most public workers have it.
What does 9073 mean?
90% of the elderly are cared for by family.
7% receive community-based care.
3% are in care facilities.
What does the 4:2:1 ratio mean?
4 grandparents, 2 parents, 1 child. All the resources from four grandparents given to just one child.
Name 3 types of equipment you'd find at an elderly playground.
Stationary bikes, ellipticals, bars, pulldown machines. Anything for low-impact cardio, flexibility, and mobility.
How much do you usually receive after retirement?
40-60% of your pre-retirement salary.
What are the three types of care facilities?
Residential homes, Care Homes / Assisted Living, Nursing Homes / Long term care.
True or False: A rural hukou means better resources than an urban hukou.
False. Urban hukou typically comes with better benefits and they also typically have a higher disposable income.
The parks are designed for the elderly. What are the factors that they consider before building them?
Accessibility - nearest bus routes, walking distance, easy to read signs.
What is the average amount rural workers receive per month after retirement?
179 yuan
What was the cost of the Beijing Care Home in China in USD?
$200-$700 / month
Is the rural to urban move a temporary or permanent move for the grandparents?
Temporary - they typically leave when children go back to school or if they are no longer able to work in the city.
Why is badminton not as popular?
It requires too much running compared to ping pong.
What are enterprise annuities?
Sponsored by employees to supplement public pensions (most similar to a 401k)
About how many elderly care facilities are there in China? (including nursing homes, assisted living, residential care, day facilities, etc.)
410,000
What does the breadwinner role mean for the grandparents?
When were the parks first built?
1995