The Chinese-New Network’s 15 February 2004 electricity (journalist Lee King) pension is a new change.
In recent years, a number of districts have announced an increase in basic pensions for urban and rural residents. Some provinces have also made it clear that the basic pension for retirees will be adjusted.
Increases in basic urban and rural pensions
Basic old-age insurance for urban and rural residents consists of basic pensions and personal account pensions. Among them, basic pensions are made up of the minimum basic pension set by the central Government, the enhanced base pension by the local government and the addition of the old-age pension.
Since 2023, the basic pension standards for urban and rural residents have been adjusted to include, at least, the areas of Ning summer, Henan, River North and Guizhou.
Of these, since January 2023, the basic pension for urban and rural residents of the entire district has been increased by 10 per cent per month, and the basic pension for urban and rural residents of the district has reached 180 per month.
From 1 January 2023, Henan raised the minimum basic old-age pension for urban and rural residents to $123 per person per month, i.e. an increase of $10 per person based on the original monthly rate of 113 yuan.
Since 1 January 2023, the basic pension for urban and rural residents has been raised from 123 to 133 per person per month.
In the Government’s report of 2023, the State raised the minimum standard of basic pensions for urban and rural residents to $128 per month.
In addition, urban and rural residents’ basic pension rates have been adjusted in some cities, with long sand having risen again by 10 yuan since January 2023 in the basic old-age pension for urban and rural residents. The base pension for urban and rural residents of the spring State increased by 10 per cent per month, with no adjustment of the local basic pension rates below 150 per month.
The Director of the Research Unit of the Institute of Public Management and Human Resources of the Department of State Development Research Centre, in a jungle, expressed the importance of further raising the level of pension security for both urban and rural populations by introducing basic urban pensions throughout the country. The increase in basic pensions for urban and rural residents is a good benefit for those who participate in pension insurance coverage for urban and rural residents.
Twenty major reports call for a comprehensive, integrated urban and rural system, equitable integration, security norms and sustainable multi-level social security system. It is widely felt that, over the years, the system of old-age insurance for urban and rural residents has been improved, the funding of benefits has continued and, with the support of measures, a more equitable, sustainable and multi-tiered system of pension security has been further developed.
Source. Zhang Yun
Multilingualization of basic pension for retirees
Should the basic pension for retirees rise this year, when the basic pension for urban and rural residents increases?
China has noted that there are currently some provinces that have made explicit proposals in the Government’s report of 2023 for raising the basic pension for retirees.
Among them, in the Government’s report of 2023, Henan made it clear that the basic pension for retirees, the basic pension for urban and rural residents, and the basic health insurance financial support standards were improved.
In the Government’s report on work in 2023, Ning summer stated that the basic pension for retirees continues to be raised. In its report on the Government’s work in 2023, Shanghai indicated that social security standards such as pensions, medical insurance and low-insurance are being promoted in an integrated manner.
In the Beijing 2023 programme of division of labour for major public life projects in Beijing, it is proposed that the basic pension for retirees, the periodic treatment of industrial injury insurance, the basic pension for urban and rural residents and the pension for benefits continue to be adjusted.
In accordance with the requirements of the Social Insurance Act, the State has established a normal pension adjustment mechanism. The level of basic pension insurance coverage is improved in due time, based on the increase in the average wage of workers and the rise in prices.
Data from the National Statistics Office show that in 2022 China grew by 3 per cent, and that the population of the country was able to deduct the real price factor by 2.9 per cent. The consumption price of the population (CPI) increased by 2.0 per cent over the previous year. (concluded)