xi's moments
Home | Society

China raises basic pension payments by 5%

Xinhua | Updated: 2018-03-23 22:55

Senior citizens chat at a retirement home in Beijing. [Photo/Xinhua]

BEIJING - China will raise the basic pension payments for retirees in 2018, the 14th year of increase.

From the beginning of this year, the average monthly payment for pensioners of enterprises, government agencies and public institutions has been lifted by 5 percent from the 2017 level, the Ministry of Human Resources and Social Security said in a statement Friday.

The increase, set to benefit 114 million retirees across China, was lower than the 5.5-percent pension rise last year.

While an aging society has put increasing pressure on pensions, China has raised pensions for 14 years in a row.

The 5-percent increase in pensions outpaces the 1.6-percent growth in the consumer price index.

Global Edition
BACK TO THE TOP
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349