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Measures Taken to Better Arrange Lay-offs, Retirees
China will take further measures to put laid-off workers from bankrupt enterprises and retirees under proper arrangement, government sources said Tuesday.
Retirees from bankrupt enterprises will be directly included in the social pension system and receive their pension benefits in due time, according to a document jointly issued by the Ministry of Labor and Social Security, the Ministry of Civil Affairs and the Ministry of Finance.
Meanwhile, lay-offs from bankrupt enterprises will be covered in local social security and re-employment programs.
Workers who retire prior to the legal retiring age will see a two-percent reduction from their basic pensions each year in advancement, but professionals can still receive their pensions upon relevant regulations.
The three ministries urged all localities and departments to earnestly implement the measures.
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