Brief: Lenovo Starts Pension Plan For Chinese EmployeesBrief: Lenovo Starts Pension Plan For Chinese Employees

Lenovo said Wednesday it would establish a retirement plan for its employees in China. The action contrasted with IBM's recent efforts to diminish retirement benefits for employees in the U.S.

"We are very proud to be among the first to offer leading-edge retirement benefits to our employees in China," said Ezra Singer, Lenovo vice president of compensation and benefits, in a statement. "This is a key milestone for our China employees and marks the continued evolution of Lenovo as a truly world class global organization as well as the strong relationship and deep commitment we have to our employees worldwide."

The new Lenovo plan is funded by contributions from the company and its employees, IBM said, noting that it is unique in China and is the first Chinese company to register its pension program with the Ministry of Labor & Social Security.

In recent months, IBM has trimmed pension plans of its U.S. employees.