China's pension insurance covers 459 m people
(Xinhua)
Updated: 2012-11-13 19:42
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BEIJING - China's urban and rural pension insurance systems covered 459 million people at the end of October, the Ministry of Human Resources and Social Security said Tuesday.
As many as 125 million elderly people receive pensions every month, the ministry said in a statement posted on its website, while urging local authorities to pay pensions on time and in full.
Over the past few years, the government has taken significant steps to improve the country's pension and social security system. The government kicked off a rural pension pilot program in 2009 and announced a pilot social pension insurance for urban residents in 2011 to expand the coverage of the country's pension system.
Premier Wen Jiabao pledged last month to increase government spending on the social pension insurance system to address the country's aging problem.
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