Retirees’ pensions will be raised by 4.5% to achieve ＂17 consecutive rises＂

　　Guangming Daily, Beijing, April 16th, by reporter Qiu YueIt was learned from Ministry of Human Resources and Social Security on 16th that the basic pension for retirees will be raised by 4.5% again in 2021, achieving "17 consecutive increases".

　　A few days ago, the Ministry of Human Resources and Social Security and the Ministry of Finance issued the "Notice on Adjusting the Basic Pension for Retired Persons in 2021", clarifying that from January 1, 2021, retirees from enterprises, institutions and institutions who have gone through retirement procedures according to regulations and received basic pensions on a monthly basis will raise the basic pension level, and the overall adjustment level will be 4.5% of the monthly basic pension for retirees in 2020. In this adjustment, we will continue to adopt the adjustment method of combining quota adjustment, hook adjustment and appropriate inclination. The quota adjustment reflects social equity, and the adjustment standards for all types of retirees in the same area 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.

　　The Circular requires that all provinces, autonomous regions and municipalities directly under the Central Government should formulate specific implementation plans in light of local conditions, promptly organize their implementation, and distribute the adjusted and increased basic pensions to retirees as soon as possible.

　　Guangming Daily (April 17, 2021, 03 edition)