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Pensions in the UK and China

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pension

Pension in China:

In China, generally speaking, people can get their pension on condition that they reach the retirement age and that they have paid for their pension for at least fifteen years. People usually get their pension monthly in the local city. What’s better, some cities are trying to help get pension in another city. To their delight, the Chinese government has been raising people’s pension for over ten years.

Pension in the UK:

Like in China, people in the UK get the pension after retirement. However, the pension in UK mainly consists of three parts, that is, State Pension, Voluntary Contribution and Personal Pension. To get the full basic State Pension, people need a total of 30 qualifying years. If people work in some educational organization or health service community, they can get Voluntary Contribution after retirement. People, who are self-employed or work in private company, can get Personal Pension, if they pay for it during working years.

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