Enterprise retirees to enjoy pension hike

Enterprise retirees to enjoy pension hike
www.chinanews.cn 2007-08-04 14:33:43







Chinanews, Beijing, August 4 – The State Council of China has decided to continually raise the pension of enterprise retirees in the next three years, to ease social polarization.

Currently, there are 40 million enterprise retirees in China, who have contributed their youth to the construction of the country. So it is the responsibility of the government to guarantee their old age life. Thus China has started the pension hike in 2005, and the policy has been widely acclaimed. Now the State Council requires related government departments and enterprises to carry out the policy before the end of August.

Pension hike this time will mainly cover high technicians and those who retired early and receive relatively lower pensions.