Zhejiang Farmer Collected 2 RMB per Month after Investing 300 RMB for Insurance 17 Years ago

• Author: Ren Jie et al

In 1995, Mr. Uncle Wang of Zhejiang Province Taizhou City had a monthly income of 70 RMB. He spent 200 RMB plus a subsidized 100 RMB from a rural collective economic organization, totaling 300 RMB, and purchased rural endowment insurance plan for his wife and son. Based on the calculation at that time, he should collect 12-14 RMB each month for his wife after seventeen years. Seventeen years later, Wang tried to collect money from the social security center. He...