Five major changes that will affect the pension insurance system
By Zhu Lingqing | chinadaily.com.cn | Updated: 2018-04-03 06:46
China's urban and rural residents' pension insurance system, covering more than 500 million people, will undergo five major changes, four years after it was established in 2014, according to a guideline released by the Ministry of Human Resources and Social Security and the Ministry of Finance on March 26.
Let's take a look at them.
1. The defined benefit mechanism will be improved.
traditional New Year festival in Rongjiang county, Southwest China's Guizhou province, Jan 18, 2018. [Photo/Xinhua]
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