BEIJING, Nov. 6 (Xinhuanet) -- The CPC Central Committee has set its third plenum to be held from November 9th to 12th, during which the party's new leaders are expected to detail the nation's economic blueprint for the next decade.
Analysts expect the ruling party to table a series of policies to further deepen reform and boost economic growth. The subject of pension reform is expected to be one of the top issues during the conference.
Prior to the meetings, the central government had commissioned research groups from several universities to develop plans in areas that include system reform guidelines, investment funds, and transferring pensions and social insurance for individuals who move to other cities or provinces. China hopes to launch a workable comprehensive plan to solve problems in the existing pension system.
A unique problem in the country is the long-standing double standard between the public sector and private sector. Public servants generally do not pay into pension funds, but still draw a pension when they retire.
The government has been struggling with a growing amount of debt and funding shortages. There have also been talks on whether to raise the retirement age, as many Western countries have done.
(Source: CNTV.cn)
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