Pension insurance benefits 150 million

Progress has been made in pension insurance. By the end of June, pension insurance has covered 158.06 million nationwide, three million more than 2003. Pensions for the retired have been granted in full an on time. There has been no default throughout the nation for six months, according to the Ministry of Labor and Social Security.

As learned, with more people joining the insurance, social management service for the retired has also been launched. By the end of June, social management services have covered the 31.68 million retired, 88.7 percent of the nation's total, 2.35 million more than the year-end of 2003.

Moreover, new measures for the multi-layer pension insurance system embarked on. In the first half of 2004, a series of regulations on annuities of enterprises were issued one after another, which greatly pushed the practice of annuity.

Hu Xiaoyi, spokesman of the Ministry of Labor and Social Security, said, the central government will strengthen monitoring and instruction in key regions and enterprises in the second half-year, strives to realized the goal of no default all year long. As to the problematic insurance registration in reclamation enterprises, the ministry will make more efforts to complete the insurance for the retired and full-time staff of reclamation enterprises.

By People's Daily Online