House-for-Pension Plan (老人抵押自住房银行付养老金)

국가: 
China
이행 기관명: 
China Citic Bank in Shanghai
MIAPP 관련 이슈: 
I-7 (Income security, social protection/social security and poverty prevention)
설명: 

This programme aims to ease the burden on the elderly in an ageing society where people have fewer or no children. Under the programme, an older person who owns a property could deed the house to an insurance company or bank, which would determine the value of the property and the applicant's life expectancy, and pay out a fixed amount of money (pension) every month.