The Beijing municipal government has announced a series of measures to help the elderly and unemployed cope with the economic slowdown. Retirement pensions and medical insurance coverage will both rise starting next week.
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The Beijing municipal government has announced a series of measures to help the elderly and unemployed cope with the economic slowdown.
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From January the 1st, pensions will go up by 200 yuan per month for Beijing's 1.73 million retirees. The basic monthly pension will be raised to 1,830 yuan with a minimum of around 800 yuan per month. Unemployment benefit has also been raised to just over 600 yuan per month. The city will also lower social insurance charges.
Zhang Xinqing, BJ Labor & Social Security Bureau said "We have lowered various payment levels and all companies and enterprises will benefit. We have also raised the social welfare standard for the city's 1.7 pensioners."
From 2009, retired workers still can use their medical insurance, even if their employers don't pay the premiums. It is the first such policy in the country. Meanwhile, urban senior residents in Beijing and those without a stable career will also be able to claim their medical expenses. Beijing's fiscal budget will rise by an estimated 80 million yuan in 2009. The social pension fund will go up 100 million yuan.
(CCTV December 26, 2008)
