At present, the first pillar of China's pension (basic old-age insurance) is dominant. According to Ministry of Human Resources and Social Security, as the first level of basic old-age insurance, the system is basically sound, and the two platforms of employee old-age insurance and urban and rural old-age insurance have covered nearly one billion people.

2. The second pillar: annuity fund.

In recent years, as the second pillar of China's pension, enterprise annuity and occupational annuity have developed rapidly. According to Ministry of Human Resources and Social Security, the enterprise annuity and occupational annuity systems in China have been initially established and gradually improved, covering more than 58 million people.

(1) The elderly population has a large base.

The number of elderly people over 60 has reached 220 million, accounting for15 of the world's total elderly population and12 of the total elderly population in Asia.

(2) The elderly population is growing rapidly.

By 2045, the population over 60 in China will account for 30% of the total population. This process took 100 years in developed countries.

(3) The aging trend is obvious.

The elderly population over 80 years old130,000, accounting for 9.7% of the total elderly population in China, and increasing at the rate of 4.7% every year. Population aging has become one of the most important livelihood issues facing China.

(4) The service for the aged is relatively lagging behind.

The development of the aged care service industry in China is relatively backward. Most urban and rural communities have insufficient facilities for providing for the aged, the comprehensive utilization rate of medical, cultural and sports facilities is low, the service coverage area and population are limited, the service content is single, and the level of socialization and specialization is not high. On the whole, there is a big gap with the requirements of the central government and the growing needs of the elderly.