The Chinese government is stepping up efforts to guarantee a better life for its retired citizens. The elderly pension has been increased by about 50 percent since 1997 and the senior citizen insurance premium is also on the right track for development.
The Ministry of Labor and Social Security has revealed that the number of the retired citizens has increased by about one and a half million people annually since 1998. And a total of US$112 billion in pensions have been distributed on time.
At the same time, senior citizen insurance is also taking shape in China. The insurance premium hit a record high last year, at about US$26 billion. More than 110 million people have joined.
Pi Dehai, official of Ministry of Labor and Social Security, said: "In accordance with the requirements of the central government, we will further strengthen our work in this regard. We will try to make senior citizen insurance available across China and guarantee a prompt distribution."
The government is also working to help laid-off workers. A total of 27 million people have lost their jobs over the past five years as a result of the massive reform drive in state-owned enterprises. Those who have joined reemployment-helping centers have almost all gotten living-expense allowances on time.
(CCTV.com February 9, 2003)
