China Expands It’s Pension Program to Cover 60% of Rural Areas

china rural area

China launched a pilot pension program as part of efforts to narrow the standard-of-living gap between rural and urban residents.

China plans to expand a piloted pension program to 60 percent of its rural areas this year, an increase from the original target of 40 percent, Chinese Vice Premier Zhang Dejiang said Friday.

 

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UK Abolishes Mandatory Retirement at 65

 retirement

British employees will not be forced to retire at 65.

British employers will no longer be allowed to force people to retire at 65 years old, unless they can justify the dismissal, the government said Thursday in a bid to lessen pension payouts as Britons live for longer.The move was welcomed by nonprofit organizations campaigning against age discrimination. Others, however, complained that the move will make it expensive for employers to continue to provide benefits such as health or life insurance to employees over 65.

 

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