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China: 100 Mln Rural Residents Enjoy New Pension Scheme |
| Source: |
Xinhua |
| Source Date: |
Thursday, December 30, 2010 |
| Focus: |
Electronic and Mobile Government, Citizen Engagement, Internet Governance
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| Country: |
China |
| Created: |
Jan 04, 2011 |
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About 100 million rural residents are expected to join China's government-subsidized rural pension scheme by the end of 2010, Yin Weimin, minister of human resources and social security, said Thursday.
A total of 35 million farmers over the age of 60 are provided with a basic monthly payment of 55 yuan (about 8.3 U.S. dollars) in addition to the pension payments from their personal contributions, said Yin.
China launched a pilot pension program for its 800 million-strong rural population in August last year as part of efforts to narrow the standard-of-living gap between rural and urban residents.
The Chinese government already operates a basic pension plan for urban workers. Last week it raised the retired enterprise-employees pension 10 percent from 2010 levels, or about 140 yuan per person per month.
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China: 100 Mln Rural Residents Enjoy New Pension Scheme About 100 million rural residents are expected to join China's government-subsidized rural pension scheme by the end of 2010 Yin Weimin minister of human resources and social security said Thursday
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