Connect with us

Hi, what are you looking for?

Imsilkroad

China capable of securing old-age pension payments: minister

Abstract : China is able to secure the payment of old-age pensions on time and in full despite reductions in social-insurance premiums last year, the country's human resources minister said Friday.

BEIJING, Feb. 26 (Xinhua) — China is able to secure the payment of old-age pensions on time and in full despite reductions in social-insurance premiums last year, the country’s human resources minister said Friday.

The balance of China’s old-age pension fund currently stands at 4.7 trillion yuan (about 726 billion U.S. dollars), Zhang Jinan, Minister of Human Resources and Social Security, told a press conference.

To alleviate the corporate burden and protect the job market against the impact of the COVID-19 epidemic, the Chinese government slashed 1.54 trillion yuan of social-insurance contributions from employers in 2020, of which 1.33 trillion yuan was old-age pension premiums, according to Zhang.

Despite the revenue loss, the government managed to pay the old-age pensions on time and in full last year, even increasing pension payments to benefit some 120 million retirees.

Zhang was confident in future old-age pension payments, as he expects an annual operating surplus from the old-age pension fund this year.

Increasing central fiscal support, available investment channels and expanding social-security strategic reserves would also back the timely and full payments of old-age pensions, he said. Enditem

About Xinhua Silk Road

Xinhua Silk Road (en.imsilkroad.com) is the Belt and Road Initiative (BRI) portal.China’s silk road economic belt and the 21st century maritime silk road website,includes BRI Policy, BRI Trade, BRI Investment, Belt and Road weekly, Know Belt and Road, and the integrated information services for the Belt and Road Initiative (BRI).

Source: China capable of securing old-age pension payments: minister

You May Also Like

Purifier

Hot selling well newest reserch humidifier with three grades mist output air purifiers 1 Specification& function Specification Product name 6-Stage Purification Air Purifier With Negative Anion and Humidifier Model No. OLS-K05 Negative ionic releasing(/cm3) 50 million...

Purifier

Best indoor air purifier small house purification with HEPA Porduct Name Air Purifier Model A3 Style Household / business type Lowest Noise 30 dB Particulate CADR 200m³/h Highest Noise 58 dB Voltage 110 / 220V(Optional) Rated Power...

Sticky Post

Repost Your Products Articles To Web2.0 + Social Sites + Photo Sites + Bookmark Sites 0.5$ to publish 1 article to 15 sites,average just...

Purifier

We believe that always we would hear the hydrogen water have antioxidation fuction, actually we don’t know what is antioxidation and why it’s so...