China to Require Retirees to Pay Into Long-Term Care Insurance

Retired senior citizens in China in a file photo. Kevin Frayer/Getty ImagesThe Chinese Communist Party (CCP) has unveiled a long-term care insurance program that will require pensioners to continue contributing premiums, marking a significant shift in the country’s social welfare system and sparking public backlash.Chinese state media Xinhua News Agency reported that, under new guidelines jointly issued by the General Office of the CCP and the State Council, retirees will be required to pay into the long-term care insurance scheme at a rate of about 0.15%, with payments deducted directly from their pensions or individual accounts.