First, the pension adjustment of retired employees has formed a normalization system. China's pension adjustment began in 2005 and reached 202 1, which has achieved a continuous increase of 17. If it continues to rise in 2022, it will be 18. The establishment of a fixed pension adjustment system is also clearly stipulated in the Social Security Law. Article 18 of the Social Security Law requires the state to establish a mechanism for the normal adjustment and management of pensions, and appropriately raise the level of basic old-age insurance benefits according to the rising social wages and soaring prices.
Second, as long as the economic development improves and the price level rises, the endowment insurance will have the power to continue to rise. Since 20 19, it has gradually become popular in COVID-19, which has brought certain harm to the stable development of domestic social economy. Up to now, the global epidemic prevention and control situation is still very urgent. In China, allergic epidemics occurred frequently from last year to this year. However, due to the institutional advantages of China, the epidemic control is the best in the world, and the epidemic prevention and control in China is also the best in general, thus bringing basic conditions for the rapid recovery and development of China's economic development. At present, China's economic development in the first three quarters is very strong, and the price level is also very high.
The third is the driving force of demand to promote economic development. Under the severe epidemic situation, China has issued a series of policies to promote development. Under the condition that foreign economic development is affected, the development of circular economy has become an important guarantee to promote China's social and economic development. Circulation system is a flexible application of external circulation and internal circulation of automobile. Automobile internal circulation is the most important way to promote China's economic development. Automobile internal circulation should promote social and economic development by stimulating consumption, and adjusting pension insurance for retired workers is the most effective countermeasure to promote automobile internal circulation.
The fourth is the need to improve people's livelihood and quality of life. At present, the number of retired workers in China has reached 6,543.8+billion, most of which are retired workers. The endowment insurance premium of this group of people is very low, and the level of endowment insurance premium is lower than the average endowment insurance fund level in all parts of the country. Pension adjustment has the function of adjusting the level of old-age insurance, so that some people with relatively low level of old-age insurance can realize the goal of adjusting their old-age pension according to their pensions, continuously improve their quality of life, and provide basic standards for promoting the objectives of the 14 th Five-Year Plan.
Generally speaking, the coming year is actually 2022, because the economic development potential of 202 1 is relatively suitable, the inflation index is very high all over the world, and the demand for social and economic development measures such as the development trend of circular economy in China, the probability of the pension insurance for retired employees continuing to rise in 2022 is still very high.