A defined benefit plan is the most common type of employer-sponsored retirement pension plan. Employee benefits are calculated using a formula to that considers how long an employee has worked for the company and how much salary they earned. The employer is responsible for managing the plan's ...
This is because pension insurance must be accumulatively paid for from at least 15 years before turning 60 years old, and plenty of migrants have no pension insurance when they work in other cities [19,21–23]. In addition, the Chinese government has been paying much attention to the issues...