16 provinces raised the pension of urban and rural residents, up to 100 yuan per month

Beijing, 27 Oct (Xinhua) -- A reporter learned from the Ministry of Human Resources and Social Security on the 27th that as of now, 16 provinces in the country have raised the provincial basic pension for urban and rural residents' pension insurance this year, up to 100 yuan per month, benefiting 72.09 million urban and rural elderly people in Shanghai, Beijing, Tibet, Zhejiang, Jiangsu, Guangxi, Inner Mongolia, Ningxia, Xinjiang (including the Xinjiang Production and Construction Corps), Jiangxi, Gansu, Jilin, Shandong, Hubei, Anhui, Hainan and other places.

According to the relevant person in charge of the Rural Social Insurance Department of the Ministry of Human Resources and Social Security, the pension of urban and rural residents is composed of two parts: the basic pension and the personal account pension, of which the basic pension comes from the central and local financial subsidies at all levels. In the case that the level of personal contributions of the insured does not decline, the basic pension standard is raised, which means that the pension that can be obtained every month must rise.

By the end of 2020, the number of urban and rural residents insured by the basic endowment insurance in China exceeded 542 million, and the vast majority of them were rural residents.

According to the reporter's understanding, in addition to the increase in the pension of urban and rural residents, the basic pension of employees has also been continuously raised this year, and the new part has been fully issued in place, benefiting 127 million retirees. Together, the two pension increases this year benefited nearly 200 million people.

Guarantee the basic treatment of the people, and resolutely adhere to the bottom line of people's livelihood. In accordance with the "14th Five-Year Plan" outline, in the next five years, China will also improve the rational adjustment mechanism of the basic pension for urban workers, and gradually increase the basic pension standard for urban and rural residents.