The 2021 Government Work Report proposes to increase the basic pension for retirees, promote national coordination of pension insurance, and standardize the development of the third pillar of pension insurance.

Sino-Singapore Jingwei client combed and found that more than 10 places have announced pension increases since 2021.

?According to incomplete statistics, since January 1, 2021, more than 10 cities including Gansu, Shandong, Jiangsu, Changsha, Xiamen, Yixing, Fuzhou, Tai'an, Lianyungang, and Chun'an have raised pensions for urban and rural residents.

Gansu will increase the provincial basic pension for urban and rural residents by 5 yuan from the original 15 yuan per person per month in 2021, and the minimum basic pension will reach 113 yuan.

All subsidy funds will be allocated before the end of May to ensure that the adjusted and increased basic pension will be paid in full before the end of June.

Jiangsu has made it clear that the minimum provincial basic pension for urban and rural residents will be raised from 160 yuan to 173 yuan per person per month in 2021, and all localities should pay the adjusted pension before March 31 this year.

After the adjustment, the minimum pension standard for urban and rural residents in Jiangsu is 80 yuan higher than the minimum standard stipulated by the state.

Shandong has issued relevant policies and proposed that in 2021, Shandong Province will increase the minimum standard of basic pension for residents, and the average security level of basic pension insurance for residents in the province will increase by another 5%, from 180 yuan to 190 yuan per person per month.

In addition, Shanxi is the first country in the country to implement the supplementary pension insurance system for urban and rural residents.

Starting from January 1, 2021, a supplementary pension insurance system for urban and rural residents will be implemented based on the unified basic pension insurance system for urban and rural residents in the province.

There are five annual payment levels: 200 yuan, 500 yuan, 1,000 yuan, 2,000 yuan, and 5,000 yuan.

For individuals who pay 200 yuan, the government subsidy is 70 yuan, for those who pay 500 yuan, the subsidy is 120 yuan, for those who pay 1,000 yuan, the subsidy is 200 yuan, for those who pay 2,000 yuan, the subsidy is 360 yuan, and for those who pay 5,000 yuan, the subsidy is 600 yuan.

On February 26, the Minister of Human Resources and Social Security said that there are 999 million people insured in my country’s pension insurance, and all provinces across the country have achieved unified revenue and expenditure of provincial pension funds.

A reasonable adjustment mechanism for retirees’ pensions has been established, and the adjustment of basic pensions for retirees has benefited more than 120 million retirees.

Improve basic pension standards for nearly 170 million urban and rural elderly residents.

In recent years, we have systematically planned and overall designed the third-level system model under the framework of the multi-level pension insurance system, and have now formed preliminary ideas.

The overall consideration is to establish a personal pension system based on the account system, with individual voluntary participation, national finance providing tax support, and market-oriented investment and operation of funds, which is being launched in full swing.