Hollywood stars are on a massive $1.3 million US trip to China for a massive US pension scheme

  • September 25, 2021

Hollywood stars who’ve spent their summer holidays with their families in America are on their way to China to take advantage of a massive pension scheme that’s being offered by the Chinese government.

From the moment Hollywood stars like Kevin Hart, Ryan Reynolds, Will Smith and Harrison Ford all set foot in America, they’ve been offered a large sum of money to travel to the country.

As part of the scheme, they’ll receive a 10-year, $1 million (HK$1.2 million) state pension, which is paid out to all Chinese citizens, regardless of age.

The money is reportedly to be given to actors who are 50 or older, and to celebrities who’ve had a significant impact on China.

According to The Hollywood Reporter, this pension is for life, and is not transferable.

The actor is reportedly expected to receive the money in full every year, but the details of how he will be paid have not been revealed. 

The $1,330,000 state pension is one of the largest in the world, according to the US Census Bureau. 

In China, it’s often referred to as the “pension system”, because it is a system for managing the retirement funds of millions of people.

It’s a system that was introduced by the Communist Party of China in the early 1990s and is used to provide a basic level of retirement for millions of Chinese workers.

The US and China have different pension systems, with US workers having a smaller amount of money available to them, while Chinese workers have access to a larger amount.

It’s not clear whether the actor is eligible for the pension scheme, which he could not comment on.

According the Hollywood Reporter , the Chinese Pension Plan has a net assets of US$15.4 billion ($23.7 billion). 

It was launched in 2008, but was only recently brought into force by the People’s Republic of China, which has been building its economy on a model of free enterprise and social welfare. 

It allows for the private sector to set up a state pension scheme in a way that benefits the whole society, while still protecting the financial stability of the government.

The Hollywood Reporter notes that China’s economy has been hit hard by the economic downturn, with some companies having closed down, including one of Hollywood’s biggest, Walt Disney Co. A spokesperson for the Chinese State Administration of Industry and Commerce, which runs the pension plan, told the publication that it would “provide a better life for its citizens”.

“The state pension system is an important instrument for the development of the Chinese economy,” said Liu Qingshan, a spokesperson for Shanghai’s China Investment Corporation, which oversees the pension fund.

“The scheme has been designed to promote the development and development of our economy and the social welfare of Chinese citizens,” she added.

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