At 53, Guan Junling is too old to get hired at factories anymore. But for migrant workers like her, not working is not an option.
For decades, they have come from farming villages to find work in the cities. Toiling in sweatshops and building apartment complexes they could never afford to live in, they played a vital role in China’s transformation into an economic powerhouse.
As they grow older, the first generation of migrant workers is struggling to find jobs in a slowing economy. Many are financially strapped, so they have to keep looking.
“There is no such thing as a ‘retirement’ or ‘pensions’ for rural people. You can only rely on yourself and work,” Guan said. “When can you stop working? It’s really not until you have to lie in bed and you can’t do anything.”
She now relies on housecleaning gigs, working long days to squirrel away a little money in case of a health emergency. Migrant workers can get subsidized health care in their hometowns, but they have little or no coverage elsewhere. If Guan needs to go to hospital in Beijing, she has to pay out of pocket.
As China’s population ages, so are its migrant workers. About 85 million were over 50 in 2022, the latest year for which data is available, accounting for 29% of all migrant workers and up from 15% a decade earlier. With limited or no pensions and health insurance, they need to keep working.
401k! = pension.
Also with the rise in companies going to contractors instead of full time staff there’s a not even a guarantee you’ll get a 401k
Is social security not around any more?
Not a pension either
Oh? What is it? What should the first google results tell me?
That it’s an insurance program
It’s not adequate to live on that alone. Also it’s projected to not have enough money in the future.
Also people who have 401ks often find it hard to contribute a lot of money to it.
There are all kinds of issues with retirement in America already. You act like we are all living it up over here lol.
Would only run out of money because of limits to how much is taxed and the Republicans wanting to be able to raid it more
Oh wow. Did I ever claim SS was adequate? You guys here reaching trying to ascribe all kinds of things to me that I did not say. Have a discussion. Listen to other people.