Recently, we have heard about the increase of minimum wage and pension. It seems that good things are coming. So will the pension increase this year? How much can it increase? Let's take a look at the latest news of pension.
Is the pension increase real
Recently, the Ministry of human resources and social security and the Ministry of Finance jointly issued the notice on adjusting the basic pension of retirees in 2018, which made it clear that the pension of retirees will be increased from January 1, 2018, and it is expected that 114 million retirees will benefit.
This adjustment is a continuous and simultaneous arrangement to improve the pension level of retirees since the unified adjustment of basic pension of retirees in enterprises and institutions in 2016 and 2017.
According to the notice, the level of basic pension fund can be improved for retirees of enterprises and institutions who have gone through the retirement procedures according to regulations and received basic pension monthly before the end of 2017.
The overall adjustment range is about 5% of the monthly basic pension for retirees in 2017.
The relevant person in charge said that the adjustment continued to adopt the adjustment method of combining quota adjustment, hook adjustment and appropriate inclination. The quota adjustment reflects social equity, and the adjustment standards of all kinds of retirees in the same area are basically the same; the linkage adjustment reflects the incentive mechanism of "more payment, more payment" and "more long payment", so that the employees who pay more and more for long-term payment when they are in office can get more pension; the proper inclination reflects the key care, mainly for the elderly retirees and retirees in hard and remote areas.
Latest news of pension increase in 2018
Recently, the Ministry of human resources and social security and the Ministry of Finance jointly issued the notice on adjusting the basic pension of retirees in 2018. It is clear that from January 1, 2018, the basic pension level of retirees in enterprises and institutions that have gone through the retirement procedures and received the basic pension on a monthly basis before the end of 2017 will be improved. The overall adjustment level is the monthly basic pension of retirees in 2017 About 5%.
This adjustment is the 14th consecutive year since 2005 for China to adjust the basic pension of enterprise retirees. It is also the third consecutive year since 2016 to arrange to appropriately improve the pension level of enterprise and government institutions retirees. It is expected that 114 million retirees will benefit.
The circular pointed out that this adjustment will continue to adopt the adjustment method of combining quota adjustment, hook adjustment and appropriate inclination. The quota adjustment is basically the same as the adjustment standard of all kinds of retirees in the same area; the linkage adjustment reflects the incentive mechanism of "more payment, more payment" and "more long payment"; the proper inclination is mainly to take care of the elderly retirees and retirees in hard and remote areas. According to the introduction, the adjustment level of the pension is mainly determined by taking into account the increase of the average wage of employees, the rise of prices, and the fund's supporting capacity and other factors.