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House-for-pension
House-for-pension
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The State Council, China's cabinet, issued a document promising a complete social care network for people over the age of 60 by 2020 in September 2013. The house-for-pension program, a subproject of the insurance fund's investment in eldercare services drew wide criticism, with many suggesting that it shows the government is preparing to pay less attention to elder care services. Under the program, an elderly person who owns a property could deed the house to an insurance company or bank, which would determine the value of the property and the applicant's life expectancy, and pay out a fixed amount of money every month.
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  • By Lin Wenjie In Hong Kong(China Daily)2017-12-08 06:20

    SAR's retirees banking on mainland social insurance for extra protection As Hong Kong's army of impending retirees begins to swell and ponders over what life would be like in their sunset years amid depleting savings and meager retirement funds, casting a "buffer" security net on the Chinese mainlan...

  • By Li You(China Daily)2017-12-07 07:35

    Chancheng district in the city of Foshan launched an e-government services platform for smartphones on Oct 30, allowing citizens to receive 20 government services at anywhere at any time. Those services range from personal insurance certificates, tax payments and elderly pensions, recruitment, and l...

  • By Peter Liang(China Daily)2017-12-04 07:51

    Hong Kong has the dubious reputation of having the widest income gap among developed economies. Unsurprisingly, poverty has become a glaring embarrassment for a city with a per capita GDP ranking among the top 20 in the world. At least the government is frank about the poverty problem it faces. Late...

  • By Hu Yongqi(China Daily)2017-11-21 08:06

    Conference to promote a market environment An inter-ministry joint conference system was approved by the State Council to strengthen market supervision to boost healthier economic development, according to a notice released on Nov 13. The move targets establishing stronger coordination in market sup...

  • (China Daily)2017-11-20 07:59

    Senior citizens chat at a retirement home in Beijing. [Photo/Xinhua]WITH ITS AGING SOCIETY putting a strain on pension payments, China will transfer some State assets, including shares of State-owned companies and financial institutions, to the country's social security fund, according to a document...

  • By Anisha Bhaduri(China Daily)2017-11-13 07:41

    A recent survey by an insurance giant revealed that seven out of every 10 Hong Kong parents would be willing to chip in should their children wish to buy a home. Also, 53 percent of the parents said they were willing to extend the mortgage on their existing home to finance their children's purchase....

  • (China Daily)2017-11-10 06:23

    Zhou Mo finds rising healthcare costs driven by stronger yuan are cited as most significant barrier to moving across boundary, exacerbating the sharp increase in number of over-65s in HK. Living across the boundary used to be a popular option among elderly people in Hong Kong who had to endure years...

  • By Harvey Morris(China Daily)2017-11-04 11:01

    A grandfather tells stories to his granddaughter at a library in Beijing on the International Children's Book Day, which falls on April 2 every year. [Photo by Wang Jing/Asianewsphoto]Are you a third-ager? A senior? Maybe a silver surfer? These are all relatively polite ways of expressing the stark ...

  • (China Daily)2017-11-01 07:19

    Senior residents celebrate Chongyang Festival with students of Dananguan Primary School in Taiyuan, Shanxi province, Oct 27. [Photo/Shanxi Daily] The authorities are accelerating the building of an all-inclusive social security network and paying more attention to the psychological needs of the elde...

  • (China Daily)2017-10-22 07:47

    Q&A | Nicholas RoselliniEditor's note: Nicholas Rosellini, UN Resident Coordinator in China, shares his views with China Daily's Wu Zheyu on China's poverty alleviation achievements and its efforts to promote sustainable development. Excerpts: How would you evaluate China's poverty alleviation accom...

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