A monthly allowance for seniors above the age of 65 will be introduced for the first time in Shanghai this May, in a bid to better protect the rights and interests of the elderly.

The seniors will receive different amounts of money according to their age. As an example, those aged 65 to 69 will receive 75 yuan ($12) per month, while those aged above 100 will receive 600 yuan per month, Zhu Qinhao, director of the Shanghai Civil Affairs Bureau, told a media briefing on Wednesday.

"These allowances mainly cover the costs of travel and nutrition. It is estimated that the city needs to pour 4.5 billion yuan from fiscal funds to support the allowances," Zhu said.

This money will be transferred to a debit card that can be used for shopping and withdrawing cash.

Official statistics show that the number of registered permanent residents above 60 years old in Shanghai hit 4.36 million last year, accounting for more than 30 percent of the city's total population.