The pension problem has always been of great concern to everyone. As soon as the new social security policy comes out in 2019, many people are also concerned about whether or not the pension will be increased, and how much? From the previous data, the pension has been increasing year by year from 2005 to 2018, and the growth will not be interrupted in 2019.
Of course, how much can the pension of retirees increase in 2019? Then we can roughly analyze the data in the past three years. Since 2016, the basic pension has grown by 6.5%. The growth in basic pensions in 2017 was 5.5%. So the growth in basic pensions in 2018 is 5.0%. So the data of the past three years shows that the growth of basic pension in these three years is declining. Then, we can use this data to analyze that the growth of basic pension in 2019 should not exceed that in 2018. In other words, he is likely to maintain a growth rate of 4.5 to 5.0.
One of the fundamental reasons for the narrowing of pension growth in the past three years is that the economic pressure is still relatively large. So that leads to the pension growth, constantly narrowing. Although the pension growth is narrowing, after all, we have achieved a normal growth every year, which shows that the pension of our retirees is also increasing. It's also very good news for our retirees.
So I personally think. The growth of pension in 2019 is basically no big problem. The biggest problem is mainly about its growth rate. Let's see what kind of range it is. Because it is basically difficult to exceed a growth rate in 2018. So, it's not going to grow much. As for the decrease of growth rate, in fact, as long as it can achieve growth, the pension benefits we retirees receive will increase, which is no problem.
As long as the people who have completed the retirement formalities before December 31, 2018 and receive the basic pension monthly, they can enjoy the pension increase in 2019. The specific increase in treatment is basically to be introduced after April. Then each province will make a specific plan for raising the pension by itself. Because there are three principles for raising the pension. The first principle is quota adjustment, the second principle is linked adjustment, and the third principle is inclined adjustment. The combination of these three principles can achieve the growth of the pension.
So in the process of growth, generally speaking, the longer the endowment insurance contribution period is, the more individuals take the pension itself, the larger the pension range he adjusts, and the more money he gets. Because it's mainly based on the payment period of your endowment insurance and the money you get. Of course, there is a tilt adjustment for the elderly over 70, so the older the person is, the more pension he adjusts.