Finest gift for the aged

The State Council's decision to raise pension for enterprise retirees nationwide by 10 percent from 2010 is much delayed as the aging of one of the world's biggest population has made it more urgent than ever before for China to improve its social security net, especially the substantially under-funded pension schemes.

It is the fifth consecutive year that China has raised the basic pension payments for enterprises retirees since 2005.

Yet, when compared with such efforts to gradually increase pension payment, the central government's new rule to enable migrant and urban workers to transfer their pension accounts when they find new jobs in other provinces may be more important.