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China will 'raise pension payouts by another 10%'
The pensions of enterprise retirees across China are to rise by a further ten per cent, according to the country's leader.
According to the leader of China, the country's governments will raise the pension for enterprise retirees by ten per cent in 2010 - a big bonus as part of the new report from the central authority.
Premier Wen Jiabao made his comments in the address to the nation, which was covered exclusively by national newspaper China Daily.
The country's leader of the cabinet said: "Governments at all levels should increase investment in social security and the central government plans to put 318.5 billion yuan [£30.9 billion] into the social security fund this year."
It was revealed that the current basic pension payment for enterprise retirees was measured at 120 yuan (£11.63) a month per person in 2009, with this being the fifth consecutive year since 2005 that China has raised the basic pension payments for enterprise retirees.
Last week, China Daily reported that the Chinese government has revealed the nation has recorded its widest wealth gap since the beginning of economic reforms in 1978.
Posted by David Farrior
