Retirees’ pensions in China are raised by 5% again to achieve 16 consecutive rises.

　　China news agency, Beijing, April 17 (Reporter Liang Xiaohui) The basic pension for retirees in China rose for 16 consecutive years on the 17th, with an increase of 5%.

　　With the approval of the State Council, the Ministry of Human Resources and Social Security and the Ministry of Finance recently issued the Notice on Adjusting the Basic Pension for Retired Persons in 2020, which made it clear that from January 1, 2020, the basic pension level will be raised for retirees from enterprises, institutions and institutions who have gone through the retirement formalities according to regulations and received the basic pension on a monthly basis before the end of 2019, and the overall adjustment level will be 5% of the monthly basic pension for retirees in 2019.

　　According to reports, this adjustment will continue to adopt a unified adjustment method that combines quota adjustment, hook adjustment and appropriate tilt. The quota adjustment reflects social equity, and the adjustment standards for all types of retirees in the same region are basically the same; The adjustment of the hook reflects the incentive mechanism of "paying more and getting more" and "paying more for a long time", so that those who pay more and pay more for a long time can get more pensions; Appropriate tilt reflects the key concern, mainly for the elderly retirees and retirees in hard and remote areas and other groups to take care of.

　　According to the Circular, adjusting the basic pension for retirees is an important measure to ensure and improve people’s livelihood, which reflects the cordial care of the CPC Central Committee and the State Council for retirees.