All localities will gradually begin to cash in the increased wages and complete the wage replacement for retirees. The amount of replacement varies according to different positions and units. Provincial organs and institutions will also pay increased wages to retirees one after another. Due to different specific conditions, the progress in various parts of the province is fast and slow. From the time node of this year's pension adjustment, we can find that last year's pension adjustment was carried out as scheduled, but the time required by the human and social departments was June 30. Therefore, many regions actually announced the specific adjustment details in July and distributed them before the end of July, but this year is different. The filing was completed before 3 o'clock in April this year, at least two months earlier than last year. On this basis, I think it will be reissued one month earlier than last year, that is, before the end of June.
Pensions generally increase every year, which is why the state can better protect the basic livelihood of retirees. Individuals who participate in the basic old-age insurance will receive the basic old-age pension on a monthly basis if they have paid a total of fifteen years when they reach the statutory retirement age. The state establishes a normal adjustment mechanism for basic pensions. According to the average wage increase and price increase of employees, the basic old-age insurance treatment level will be improved in a timely manner.
Legal basis:
People's Republic of China (PRC) social insurance law
Nineteenth individuals across the overall regional employment, the basic old-age insurance relationship with my transfer, the cumulative payment period. When an individual reaches the statutory retirement age, the basic pension is calculated in stages and distributed uniformly. Specific measures shall be formulated by the State Council.
Article 64 Social insurance funds include basic old-age insurance funds, basic medical insurance funds, industrial injury insurance funds, unemployment insurance funds and maternity insurance funds. In addition to the basic medical insurance fund and maternity insurance fund combined accounting, other social insurance funds are accounted for separately according to social insurance types. Social insurance funds implement a unified accounting system throughout the country.
The social insurance fund is earmarked for special purposes, and no organization or individual may occupy or misappropriate it.
The basic old-age insurance fund will gradually implement national overall planning, and other social insurance funds will gradually implement provincial overall planning. The specific time and steps shall be stipulated by the State Council.