BEIJING, Feb. 7 (Xinhua) -- China will integrate the basic old-age insurance systems for rural and urban residents to allow people to have equal access to the pension scheme, according to an executive meeting of the State Council on Friday.
China's separate systems for rural residents and retired company employees in urban areas have basically included everyone in the country, according to the meeting.
China will integrate the two systems and build a unified pension system covering both urban and rural residents, said the meeting.
The meeting, presided over by Premier Li Keqiang, said the move will facilitate population movement and build stable expectations for livelihood improvement.
It will also boost consumption and encourage more business start-ups, said the meeting.
China Focus: Bigger pensions win little praise
BEIJING, Jan. 25 (Xinhua) -- China's yearly increases in pensions in the past decade have drawn less praise than questions as surging prices, widening gaps and regional unbalance dampen the happiness of the country's 74 million-plus retirees.
Official data showed that the pension per capita rose from 714 yuan (116.98 U.S. dollars) per month in 2005 to over 2,000 yuan in 2014 following another 10-percent pension lift. The increase, a move regulated by the State Council, China's cabinet, became effective on the first day of this year. Full story
540 mln Chinese have social security cards
BEIJING, Jan. 21 (Xinhua) -- By the end of 2013, 540 million Chinese people, or roughly 40 percent of China's population, had social security cards, which are issued to facilitate medical and other social security services, new data showed on Tuesday.
Hu Xiaoyi, vice minister of human resources and social security, revealed the data at a seminar on Tuesday, adding that the number is expected to reach 650 million by the end of 2014. Full story
China boosts pensions for corporate retirees
BEIJING, Jan. 9 (Xinhuanet) -- The State Council will increase enterprises' retirees' pensions by 10 percent.
The decision was made at the Cabinet's executive meeting led by Premier Li Keqiang on Wednesday. The move will benefit more than 74 million people who have retired from domestic enterprises. Full story
Chins looks to reform pension system
BEIJING, Nov. 3 (Xinhuanet) -- Pension reforms in China are the focus of a forum that opened in Beijing on Saturday.
According to government officials attending the forum, the number of people in China aged over 60 years, reached 194 million by the end of 2012. The number is expected to surpass 200 million by 2013. And by 2050, predictions are there will be 480 million citizens aged over 60. That’s a third of China’s population then. This would also mean that around a quarter of the world’s aged population will be in China. Full story