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