I've been teaching 12 hours a week in China for years and years. So, my western pensions are low. Fair enough, but basic living costs will never inflate alarmingly here because there are so many poor people. It was always my plan to eventually live off a small pension here. If one likes smoking and beer, you couldn't even live the way I live in China in the west if you were working there on low pay! My daily living expenses are 4 big bottles of beer, 30 fags + cooking lamb hotpot, fried eggs, noddles, steamed bread 'toast' costing 10 RMB, 7.5 RMB, 20 RMB = say 40 RMB/day.
But in the UK, at least 10 GBP + 10 GBP + 10 GBP, far more expensive!