Distribution of annuities and pensions to retired Chinese in 2001 went well, according to sources at a national meeting on social security held Monday in Zhengzhou, central China's Henan Province.
The annuities totaled 205.5 billion yuan, 99.9 percent of the 205.7 billion yuan due. In addition, pension arrears of 1.457 billion yuan have been paid to senior citizens across the country.
Sources say most of the pensions and annuities were delivered through community channels, differing from earlier payments which were handled by enterprises and government administrations at various levels.
The Ministry of Labor and Social Security has exerted strict control to ensure pension payment through social channels and effectively responded to individual appealing letters concerning delay in pension payment in 2001.
Experts say that a smooth delivery of annuities and pensions is the result of better collection and administration of social insurance across the country.
Statistics show that retirement insurance covers some 140 million people in 2001. Basic retirement insurance premium collected in 2001 hit a record of 242.6 billion yuan, 28.4 billionyuan higher than the previous year.
(Xinhua News Agency February 25, 2002)
