"The importance of building a safety net for themselves and their families is a priority, with 63% of Scottish people reporting that they managed to save some money in the last 12 months, " he said.

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It is also building a stronger safety net, which is incomparable to the US in coverage and services at this time.

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China will spend billions building out its social safety net over the next few years, improving the livelihood of retiring and elderly Chinese.

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