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Pension program to cover all unemployed urbanites in China in two years: Cabinet

06-01-2011 19:14 BJT

BEIJING, June 1 (Xinhua) -- The State Council, China's Cabinet, said Wednesday that a new pension program will be launched next month to benefit urban residents who are not employed.

The urban social pension system will be carried out in 60 percent of cities and townships by the end of this year, before it is introduced nationwide next year, according to a State Council meeting presided over by Premier Wen Jiabao.

All unemployed urban residents above the age of 16 are eligible to join the program, said a government statement released after the meeting. Students are not included in this program.

Carrying out the pilot pension program will help achieve a full coverage of basic social pension systems in the country, which also has pension programs for rural residents and urban workers, the statement said.



Editor:Zheng Limin |Source: Xinhua

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