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An Umbrella for Unemployed Seniors
The Chinese Government recently took a significant step forward in improving its social safety net: A pension program benefiting the country's 50 million unemployed urban residents was launched on July 1
Senior Security

With an aging population of more than 100 million presenting unforeseen obstacles to ensure benefits for retirees, China recently implemented new measures to cover the last social group in its extensive pension system: unemployed city residents

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One Step Closer to Full Pension Coverage
The Central Government has vowed to realize full pension coverage for urban residents in 2012. The decision is an important step in establishing a pension system covering all rural and urban residents
China established a basic pension system for urban employees in 1997 and it had covered 257 million urban residents by the end of 2010. The new program, covering unemployed urban residents above the age of 16, excluding students, will be implemented in 60 percent of the country's cities and townships from July 1, 2011. Starting in 2012, it will be effective across the country.
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