Tibet achieves full old-age pension coverage
0 Comment(s)
Print
E-mail
Xinhua, January 9, 2012
Tibet has become the first Chinese region to extend its old-age pension coverage to all senior citizens, a local government official said Monday.
Tibet launched a rural pension insurance program on a trial basis in seven counties and districts in the regional capital Lhasa and Shannan prefecture in 2009, said Yao Ruifeng, chief of human resources and social security in Tibet.
As of November 2010, the program covered all senior citizens in Tibet's 74 cities, counties and districts, two years ahead of the timetable set by the central government, said Yao at the annual session of Tibet's regional People's Congress, the local legislature.
According to the prevalent scheme, every senior citizen aged over 60 receives 55 yuan (8.7 U.S. dollars) a month as a basic pension allowance without having to pay any premiums.
Younger people, aged from 16 to 59, can pay from 100 to 500 yuan a year into their pension funds and get a government subsidy of 30 yuan a year. After they turn 60, they will get 120 yuan a month as a basic pension, plus a monthly return from their account which averages 0.7 percent of its total balance.
A similar pension scheme for Tibet's urbanites took effect on Jan. 1, 2011, said Yao.
Under this scheme, a citizen can pay 100 to 1,200 yuan a year to his pension account and get a government subsidy ranging from 30 to 85 yuan accordingly.
After a citizen turns 60 and has paid his premiums for 15 years, he will get a minimum pension of 120 yuan a month.
The same scheme applies to monks and nuns at all monasteries in the plateau region.
Starting from Jan. 1, all registered clergy aged 18 and over can apply for pension and medical insurance policies in Tibet, according to new rules announced in November.
The new policy has removed the household registration barrier, which confined the clergy's access to social security services to their home towns.
This year, Tibet plans to spend 1.18 billion yuan on social security services for all rural and urban residents and clergy, said Yao.
China's central government is aiming to extend old-age pension coverage to all senior citizens by 2015.
Go to Forum >>0 Comment(s)