Unifying pension system a monumental breakthrough

Source:Global Times Published: 2014-2-9 23:18:01

A State Council meeting presided over by Premier Li Keqiang pledged Friday to create a unified pension system for residents in both rural and urban areas. This decision, involving the interests of almost all Chinese citizens, is of great significance and a pleasant surprise for China's 700 million farmers in the Year of the Horse.

Rural-urban disparities have caused great unfairness in China in recent years, among which the dual structure of the pension system is most questioned. A unified pension system is likely to have immediate effects in narrowing the rural-urban gap and will prove to be a monumental breakthrough in China's social development.

Reform in China started in the countryside and swept across the country, but caused rural areas to lag behind urban ones. Despite the growing prosperity of a few villages in the developed southeast region, the issues of agriculture, rural areas and farmers are still major challenges on the path to modernization.

The government needs to play a key role in propelling rural development and achieving revolutionary progress in social fairness which cannot be secured by the countryside itself. Through unifying the rural and urban pension systems, the government is showing resolution in assuming its due responsibilities.  

Wealth accumulated in the process of reform and opening-up provides the foundation for revamping the pension system. Nonetheless, it doesn't mean China is rich enough to immediately eradicate rural-urban differences. A unified pension system, acting as a catalyst for urbanization, will aid migrant workers becoming urban residents. Its final goal is to clear the way to eliminate the gap between cities and the countryside.

However, it's impossible for the government to fully cover pension payouts. We have to diversify the sources of pension funding through stimulating rural economic growth, resolving employment of rural surplus labor and increasing opportunities for rural individuals to get rich. This is the only sustainable way that farmers can enjoy equal pensions with urban residents. 

The decision to unify the pension systems demonstrates that China is making great strides in narrowing the social gap. There is no sharp confrontation over this reform since the whole society from top down is expecting the country to quicken its steps in creating an equal community. China needs to dwell on how to carry out the reform well.

Pointing out inequalities is necessary, while at a time when the country is striving to bridge the gaps in society, we call on everyone to remain sober. China's livelihood construction is growing by leaps and bounds amid a period when the country witnesses most public complaints ever. The country needs positive energy to stimulate progress.

Unifying the pension system is a historical event. We wish China good luck and its immense group of farmers a better future.



 



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