If you’re Chinese and you or your parents are older but not yet 60, and you don’t have much financial support for daily living, go to your local government service center and sign up for the Urban and Rural Residents’ Pension Insurance.
The minimum contribution is 300 yuan a year, and you need to contribute for 15 years. If you haven’t contributed for the full 15 years by the time you turn 60, you can make up the shortfall.
Starting in the month you turn 60, you can receive around 300 yuan a month, and the amount will increase each year. By that calculation, you’ll recoup your contributions in about 15 months.
In the village, having that 300 yuan a month means you can just about get by. #BTC
The minimum contribution is 300 yuan a year, and you need to contribute for 15 years. If you haven’t contributed for the full 15 years by the time you turn 60, you can make up the shortfall.
Starting in the month you turn 60, you can receive around 300 yuan a month, and the amount will increase each year. By that calculation, you’ll recoup your contributions in about 15 months.
In the village, having that 300 yuan a month means you can just about get by. #BTC