At this time of year, many people will pay attention to one thing - how much will the pension rise?
At the end of April this year, the topic of pension increases became a hot topic again.
This is not groundless, but the result of solid data and policy support.
At a press conference on April 23, the Ministry of Human Resources and Social Security revealed some key data, which are not only encouraging, but also directly affect the adjustment of pensions.
By the end of March 2024, the number of people participating in the national pension insurance has reached 1.07 billion, an increase of 14.34 million over the same period last year.
This increase shows the expansion of the social safety net, which means that more money is being incorporated into the system.
What is even more concerning is the amount of balance of the social security fund.
As of the end of March this year, the total balance of the social security fund was as high as 8.6 trillion yuan.
Behind this huge figure is an important factor in the higher-than-expected pension adjustment.
Specifically, in the past year, the income of the pension, unemployment and work-related injury insurance fund reached 7.92 trillion yuan, while the expenditure was 7.09 trillion yuan, and the balance was naturally significant.
The role of the Ministry of Finance should not be overlooked.
In 2024, the government's public budget for social security and employment reached 4,138.4 billion yuan, an increase of 150.1 billion yuan compared to 3,988.3 billion yuan in 2023.
This increase in the budget provides more financial security for the steady growth of pensions.
Let's take a look at the investment of pension funds.
By the end of 2023, the cumulative return on pension fund investments reached 27.79%.
In recent years, the return of equity assets has declined, but in the long run, the overall return of pension funds is as high as 39.83%.
Such investment benefits provide strong support for the growth of pensions.
Not only that, the overall planning of pension insurance is also steadily advancing.
With the uneven development of the economy, some large cities may have a surplus in pensions, while others may be short of funds.
Through the overall planning of 31 provinces and cities, the optimal allocation of funds has been realized.
The strategy of transferring money from the south to the north ensures that pensions are paid in full and on time.
This big-picture management strategy has effectively alleviated the problem of uneven distribution of pensions between regions.
With the release of these positive data and policies, pension growth expectations for this year are set at around 4%, an increase from last year's 3.8%.
What does this increase mean for individuals?
Taking several provinces and cities as an example, assuming that the monthly pension of a retired employee was originally 3,000 yuan, according to the calculation of a 4% increase, it will increase by 120 yuan per month, which is an increase of 1,440 yuan in a year.
With the announcement of the pension increase, the specific adjustment plans in different regions will also be released one after another.
These programs usually take into account various factors such as the level of regional economic development, the price index, and the cost of living of residents to ensure that the adjusted pension can better meet the living needs of the elderly.
For example, some of the more economically developed regions may see slightly higher increases than the less economically developed regions to reflect differences in the cost of living in different regions.
For the majority of retired groups, the increase in pension is the improvement of the quality of life.
Many retirees rely on pensions as their main source of livelihood, and any increase is directly related to their standard of living.
Especially in the context of the current general rise in prices, the timely increase of pensions is particularly important.
As the fertility rate continues to slump and the elderly population increases, the pension system is under increasing pressure.
The smooth growth of pensions has solved the economic pressure of some elderly people in the short term, but we need more systemic reforms and innovative measures.
This includes improving the investment efficiency of pensions, optimizing the coverage and payment structure of pension insurance, and encouraging more private capital to enter the pension service market.