Old Mai Dong Lao Had a Pension
Posted on Aug 5, 2009
It’s hard to keep up the communist rhetoric when you’ve got Gucci. Harder still with millions of farmers struggling to scratch out a living while China’s select few live the good life. Beijing is hip to the growing class tensions, however, and will start subsidizing a national pension for rural workers.
The government will pay for basic insurance for rural workers and farmers will contribute to a pension pot.
There is widespread discontent among China’s rural poor about the wide disparity between their income compared to that of urban residents.
The government already operates a basic pension plan for urban workers.