Families in Vietnam and China grapple with rising costs and reliance on parental pensions

Mai Anh, a 36‑year‑old office worker in Hanoi, Vietnam, and her husband earn about 30‑32 million VND per month. After six months of tracking their spending, they found their household expenses total roughly 25 million VND, including mortgage payments, food, school fees and numerous small daily purchases. By cutting discretionary out‑of‑home meals, shopping by list and setting up a separate savings account, the family now saves an additional 3‑4 million VND each month.

In China, a growing number of young adults earn less than the pensions of their retired parents, a phenomenon dubbed “reverse retirement.” Chen Qiuyuan, 33, in Shanghai sees her family’s monthly income halved after a job change, while her parents’ combined pension of about 30,000 NDT supports the household with regular transfers of 8,000 NDT and car‑loan assistance of 2,000 NDT. Similar cases are reported in Hohhot and other cities, where parents’ pension benefits exceed their children’s earnings, leading many to rely on this financial safety net despite feelings of embarrassment and pressure.

Both stories highlight how modest household incomes in rapidly urbanising Asian societies are increasingly strained by housing costs, education expenses, and everyday consumption, prompting families to adopt tighter budgeting or depend on parental pensions.