Wednesday, March 11, 2015
Social security reform in China.
China's social security system is targeted for reform. Premier Li Keqiang's 'work report' to the National People's Congress (NPC) on March 5 pledged to increase the basic pension, lower premiums for unemployment insurance and centralise the country's fragmented urban pension system. Several days later, human resources minister Yin Weimin said, on the sidelines of the NPC, that the government intends to introduce a plan in 2017 to raise the country's statutory retirement age.