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China to Take From the Pension Rich, Give to the Pension Poor

A tour group of senior citizens visit in the Forbidden City in Beijing on May 12. Photo: Deng Jing
A tour group of senior citizens visit in the Forbidden City in Beijing on May 12. Photo: Deng Jing

China has decided to pull money from provincial-level pension funds to create a national pool to address growing pension deficits in poorer regions.

The arrangement will allow the central government to take a set amount of money from pension funds currently managed by provinces, municipalities and autonomous regions, and redistribute it to those with pension fund shortfalls, the central government said in a notice published Wednesday on its website.

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