The basic pension for retirees will be increased by 4% in 2022. 1. Adjustment scope.
Retirees who have completed retirement procedures in accordance with regulations before December 31, 2021 and receive basic pensions on a monthly basis.
2. Adjust the level.
The national adjustment ratio is determined based on 4% of the monthly per capita basic pension for retirees in 2021.
3. Adjustment methods.
Adopt a combination of fixed quota adjustment, linked adjustment and appropriate inclination, and unify the adjustment methods for retirees in enterprises, government agencies and institutions.
4. Source of funds.
Adjust the funds required for basic pensions. Those who participate in the basic pension insurance for enterprise employees will be disbursed from the basic pension insurance fund of enterprises, and those who participate in the basic pension insurance for staff of government agencies and institutions will be disbursed from the basic pension insurance funds of government agencies and institutions.
5. Organization and implementation.
Adjusting the basic pension for retirees is an important measure to protect and improve people's livelihood, and reflects the cordial care of the Party Central Committee and the State Council for the majority of retirees.
6. Purpose of adjustment: The goal is not to improve the level of benefits and increase the average pension level of retirees, but to be fair and reasonable. The basic pension insurance benefits are "to enhance fairness, adapt to liquidity, and ensure sustainability" as the purpose.
Legal Basis "Notice of the Ministry of Human Resources and Social Security and the Ministry of Finance on Adjusting the Basic Pension for Retirees in 2022" 1. Scope of adjustment.
Retirees who have completed retirement procedures in accordance with regulations before December 31, 2021 and receive basic pensions on a monthly basis.
2. Adjust the level.
The national adjustment ratio is determined based on 4% of the monthly per capita basic pension for retirees in 2021.
Each province uses the national adjustment ratio as the upper limit to determine its own adjustment ratio and level.
4. Source of funds.
Adjust the funds required for basic pensions. Those who participate in the basic pension insurance for enterprise employees will be disbursed from the basic pension insurance fund of enterprises, and those who participate in the basic pension insurance for staff of government agencies and institutions will be disbursed from the basic pension insurance funds of government agencies and institutions.
The central government will provide appropriate subsidies to the funds needed for the central and western regions, old industrial bases, Xinjiang Production and Construction Corps, and central state agencies in Beijing and their affiliated institutions.
Local finance will provide certain subsidies for local adjustments to the funds for new expenditures on pensions for enterprise retirees.
For those who have not participated in the basic pension insurance for employees, the funds required for adjustment will be provided through the original channels.