Chang Dean Xiang pension social security consultation

It's social endowment insurance. Several counties in Changde City, Hunan Province are piloting social endowment insurance for the elderly, such as Lixian and an xiang. Both my friend's parents have successfully applied for the bid. First of all, they will pay a one-time pension of about 40,000 to 50,000, and they can receive it monthly after reaching the age of 60, which is about 400 to 500 yuan/month. I wonder if Dingcheng District is ok?

Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.