SHANGHAI- Shanghai has unified its pension plans for rural and unemployed urban residents, authorities said on Monday.
The unified system combines Shanghai's five-level rural pension plan with the 10-scale?plan for unemployed urban residents to create a 12-level pension program. The new pension plan came into effect on May 1.
The pension fund combines contributions from the individual, the collective and the government. Individuals can choose to pay from 500 yuan to 3,300 yuan annually, in accordance with different levels of the pension plan.
Meanwhile, pension funds for rural and unemployed city residents are combined into one as a special fiscal account in the Shanghai social security fund.
China's State Council earlier this year announced unification of the separate urban and rural systems as a way to narrow the urban-rural gap and to allow better access to social benefits.
Xinjiang merges urban and rural pension plans
Majority of Shanghai elderly open to house-for-pension plan
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263 Registration Number: 20100000002731 
