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Many people, especially those who are middle-aged and older, have a good memory of the social security system under the planned economy. Even though the national economy was less vibrant, people were taken care of.

Since the country launched a market economy reform, a new social security system is yet to be established after the old ones were dismantled.

With social wealth much more abundant than before, establishing a new social security system would not be difficult as long as the decision-makers hold firm.

When the country takes care of the basic needs of its citizens, it will see sound economic growth and the pension fund deficit will not cause substantial damage to the lives of its senior citizens.

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