The 5.5% increase takes into account economic and demographic factors and other factors. The pensions of corporate retirees have been adjusted for 13 consecutive times. The first 11 increases were about 10%, last year it fell to 6.5%, and this year it is 5.5%.

How is this adjustment level determined? The relevant person in charge of the Ministry of Human Resources and Social Security said that adjusting the benefits of retirees by about 5.5% this year is a prudent decision made by the State Council after comprehensively considering the new normal of my country's economic development and the new situation of population aging.

When adjusting the basic pension, we must not only consider the increase in the consumer price index and employee wages, but also consider the fund's payment capacity and financial affordability; we must not only consider the current vital interests of the majority of retirees, but also consider the long-term sustainable development of the pension insurance system

and the protection of the long-term rights and interests of retirees.

my country's economic development has entered a new normal of medium-to-high-speed development from the period of high-speed development that lasted for more than 30 years after the reform and opening up. The growth rate of average employee wages and the increase of consumer price index have slowed down. At the same time, the aging of the population has accelerated and the burden of pensions has increased. The pressure on the income and expenditure of pension insurance funds continues to increase. It is indeed necessary to consider all factors in an overall manner and reasonably determine the adjustment level.