Implemented in accordance with relevant national and local policies and regulations.

1. Sources of pension expenses The pension expenses for 70-year-old rural residents mainly come from financial subsidies from the national and local governments, including basic pensions, old-age allowances, etc.

In addition, some areas will also raise funds through social donations, charity funds, etc. to improve the living conditions of the elderly.

2. Payment method of pension expenses 1. Payment of basic pension: Based on the age of the elderly, payment years, payment amount and other factors, calculate the amount of basic pension that should be paid, and pay it to the elderly on a monthly basis through bank transfer and other methods.

on the account.

2. Payment of old-age allowance: For the elderly who have reached a certain age (such as 70 years and above), the government will provide a certain amount of old-age allowance to reflect the care and respect for the elderly.

The standard and method of disbursing old-age allowances may vary from region to region, but they are usually paid on a monthly basis.

3. Adjustment mechanism for pension expenses In order to ensure that the payment of pension expenses can keep up with the times and meet the actual needs of the elderly, the national and local governments will regularly adjust pension expenses.

The basis for adjustment includes price levels, economic development, fiscal revenue and other factors to ensure the rationality and sustainability of pension expenses.

4. Supervision and guarantee of pension expenses In order to ensure that the payment of pension expenses is fair, transparent and standardized, the government will strengthen the supervision and management of pension expenses.

At the same time, a sound pension security system will be established to provide more comprehensive and high-quality pension services for the elderly.

To sum up: the payment of pension expenses for 70-year-old rural residents is carried out in accordance with relevant national and local policies and regulations, aiming to ensure that the basic living needs of the elderly are met.

The specific distribution methods and standards may vary from region to region, but the actual situation and needs of the elderly will be taken into consideration.

The government will strengthen the supervision and management of pension expenses to ensure fair, transparent and standardized payment.

At the same time, the elderly care security system will continue to be improved to provide more comprehensive and high-quality elderly care services for the elderly.

Legal basis: Article 25 of the "Law of the People's Republic of China on the Protection of the Rights and Interests of the Elderly" stipulates: The state establishes a basic pension insurance system to protect the basic life of the elderly.

Article 33 of the "Law of the People's Republic of China on the Protection of the Rights and Interests of the Elderly" stipulates: The state establishes and improves the welfare system for the elderly and increases social welfare for the elderly based on the level of economic and social development and the actual needs of the elderly.

Article 16 of the "Social Insurance Law of the People's Republic of China" stipulates: Individuals who participate in basic pension insurance and have accumulated contributions for fifteen years when reaching the statutory retirement age will receive a basic pension on a monthly basis.

Individuals participating in basic pension insurance who have paid less than fifteen years of cumulative contributions when they reach the legal retirement age can pay for fifteen years and receive basic pensions on a monthly basis; they can also transfer to new rural social pension insurance or urban resident social pension insurance.

, enjoy corresponding pension insurance benefits in accordance with the regulations of the State Council.