Fujian province will increase subsidies of pensions for urban and rural residents participating in the endowment insurance system, according to a guideline recently issued by the provincial government.

The endowment insurance system Fujian has adopted for non-working residents comprises individual contributions, a collective subsidy and a government subsidy. It is divided into 20 tiers based on the differentiated volume of annual individual contributions ranging from 100 to 2,000 yuan ($16-$326).

Starting from 2015, local governments will increase subsidies to insurers of all tiers, according to the outline.

It will begin with the bottom tier, when an insurer will get a subsidy of 30 yuan every year, which is 5 yuan more than the current standard. Insurers from every tier above that will get an additional 10 yuan, with 100 yuan being the cap.

The minimum annuity a retired insurer can obtain from the endowment system is 70 yuan. Local governments can raise the standard in accordance with specific situations, said the outline.

The document also stipulates that the two endowment insurance systems for enterprise employees and non-working residents will be connected more closely, to avoid the possibility of overlap for certain individuals who could find themselves paying into both schemes.

What's more, the process of applying for cross-regional transfers of an individual's endowment insurance data will be made easier, said the outline.