On December 12, the Ministry of Human Resources and Social Security and other five departments issued the "Notice on the Full Implementation of the Individual Pension System". The notice requires optimizing the supply of products, and on the basis of existing financial products such as wealth management products, savings deposits, commercial pension insurance, and public funds, specific pension savings and index funds will be included in the personal pension product catalog. The notice also incr...
On September 13, Li Zhong, Vice Minister of the Ministry of Human Resources and Social Security, said at the special press conference of the 11th meeting of the Standing Committee of the 14th National People's Congress today that the minimum contribution period for receiving pensions will be gradually increased from 15 years to 20 years, highlighting two aspects of the policy. One is to establish a 5-year buffer period. The main consideration is that some employees with a contribution period of ...