On March 3, the Shanghai Municipal Bureau of Sports distributed lifetime insurance policies as part of the scheme to provide lifelong pensions for outstanding athletes. Renowned athletes such as Fan Zhendong, Tang Qianting, Song Jiayuan, and Wang Xinjie, who achieved remarkable results in the Paris Olympics and world championships, were among the recipients of this initiative.
This marks China's first market-based commercial insurance solution to address the retirement challenges faced by athletes. According to the program, athletes who win medals at the Paris Olympics will receive lifelong monthly pension payments starting at the age of 60: RMB 6,000 for gold medalists, RMB 5,000 for silver medalists, and RMB 4,000 for bronze medalists.
A total of 130 Paris Olympic medalists are among the first group of beneficiaries of this initiative.
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