Home Tools: Save | Print | E-mail | Most Read | Comment
Pilot employee contribution pension schemes approved
Adjust font size:

The State Council on Friday approved a plan to launch the country's first publicly run employee contribution pension schemes in five provinces and municipalities.

The pilot program, targeted at workers in state institutions, is to be launched in Shanxi, Shanghai, Zhejiang, Guangdong and Chongqing.

The plan was approved at an executive meeting of the State Council chaired by Premier Wen Jiabao.

The plan covers items such as employee payment proportion, pension fund management at provincial level and building a socialized pension service system.

Under the schemes, the amount of each pension is linked to the amount paid in contributions.

The executive meeting agreed that provincial-level governments should be responsible for the proper administration of the schemes.

China's basic pension system was established in 1997. However, its coverage lags behind growing number of retirees, diversified modes of employment and increasing urbanization.

(Xinhua News Agency March 1, 2008)

Tools: Save | Print | E-mail | Most Read
Pet Name
China Archives
Related >>
- Pension fund has good returns
- 240 mln Chinese covered by social pension system
- President Hu promises more pension for retired
- US$2 bln earmarked for raising retirement pension
- Draft law proposed to safeguard social pension fund
Most Viewed >>
- Full Text: Report on the Work of the Government
- Drug supplier 'not approved by SFDA'
- White paper published on China's rule of law
- Thousands of people punished for illegal land grabs
- Claims of grain shortage dismissed
Questions and Answers More
Q: What kind of law is there in place to protect pandas?
A: In order to put the protection of giant pandas and other wildlife under the law, the Chinese government put the protection of rare animals and plants into the Constitution.
Useful Info
- Who's Who in China's Leadership
- State Structure
- China's Political System
- China's Legislative System
- China's Judicial System
- Mapping out 11th Five-Year Guidelines
- Chinese Embassies
- International Department, Central Committee of CPC
- State Organs Work Committee of CPC
- United Front Work Department, Central Committee of CPC