The basic monthly pension for corporate retirees of Jiangsu province has risen from RMB 840 yuan ($138.5) in 2005 to 2,236 yuan ($364.2) in 2014, according to statistics from the Human Resources and Social Security Department of Jiangsu on Sept 18.
Staff from the Human Resources and Social Security Department said that in order to provide convenience from retirees, Jiangsu has canceled the transfer fee for those who want to get the pension outside their hometowns. This policy has benefited 5.8 million retirees in Jiangsu as they do not have to worry that their retirement money would shrink.
At present, more than 9 percent of Jiangsu’s retirees have been included in the community management system. An organized, standardized, personal and people-oriented work pattern has been established. From 2008, retirees began to receive a free medical examination every two years.
