SHANGHAI, May 5 -- Shanghai has unified its pension plans for rural and unemployedurban residents, authorities said on Monday.
The unified system combines Shanghai's 5-level rural pension plan with the 10-scalescheme for unemployed urban residents to create a 12-level pension program. The newpension plan came into effect on May 1.
The pension fund combines contributions from the individual, collective and government.Individuals can choose to pay from 500 yuan to 3,300 yuan annually, in accordance withdifferent levels of the pension plan.
Meanwhile, pension funds for rural and unemployed city residents are combined into oneas a special fiscal account in the Shanghai social security fund.
China's State Council earlier this year announced unification of the separate urban andrural systems as a way to narrow the urban-rural gap and to allow better access to socialbenefits.
（Editor：DuMingming、Huang Jin） Related reading
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