China is plugging pension hole by tapping into US$25 trillion in equity in state-owned enterprises

//China is plugging pension hole by tapping into US$25 trillion in equity in state-owned enterprises

China is plugging pension hole by tapping into US$25 trillion in equity in state-owned enterprises

Every month, Liu Yuan sets aside around 900 yuan (US$131), or 8 per cent, of his salary to be paid into the public pension fund, while his employer contributes about 2,000 yuan.These payments will guarantee the 33-year-old accountant of a construction company in eastern Shandong province a basic monthly pension payment of around 4,000 yuan a month when he retires in 25 years, all other things being equal.But starting this May, his employer can cut the mandatory contribution to his account by…

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By | 2019-05-20T22:00:04+00:00 May 20th, 2019|Headlines|Comments Off on China is plugging pension hole by tapping into US$25 trillion in equity in state-owned enterprises