Rise in pension benefits

The Beijing Human Resources and Social Security Bureau has announced that the government will increase their insurance payments for old age pensions of Beijing citizens from 30 yuan ($5) to 60 yuan, reported the Beijing Times.

According to the Beijing Human Resources and Social Security Bureau, people who join the pension insurance scheme are entitled to benefits after they reach 55 years old.

However, for people who join the insurance system in 2015, they will have to wait until they turn 60 years old in order to enjoy such benefits.