As January 2024 approaches, many retirees are looking forward to the new year of pension adjustments. For most retirees, the increase in pensions is not only a numerical increase, but also an improvement in the quality of life. This article will delve into which retirees will see pension changes in January 2024 and what these changes mean.
First of all, those who retire in 2023 will usher in pension adjustments. According to the regulations, their pension will be calculated using the calculation base for 2023. Before the announcement of the new base, most people received a temporary pension based on the base for 2022. With the announcement of the pension calculation base in 2023, the pensions of this part of retirees will usher in a recalculation and make up the difference, and then be issued according to the new standard.
Since the pension calculation base is usually announced at the end of the year, and the difference is completed in December, from January 2024, the pension of retirees in 2023 will be paid according to the new standard. For retirees living in Beijing, Guangdong, Tianjin and other provinces, this means that their pensions will increase.
Taking Beijing as an example, the pension calculation base in 2023 is 11,525 yuan, with an increase rate of 4%. Although the growth of the base mainly affects the basic pension and the transitional pension, the overall pension growth ratio is relatively low. For example, if a Beijing retiree has a total of 5,000 yuan for basic pension and transitional pension and 1,000 yuan for personal account pension, then the overall pension growth ratio is 333%。
Retirees in Guangdong Province will also see an increase in pensions. Guangdong Province reformed the calculation method of transitional pension in 2021, and in January 2024, the proportion of additional transitional pension will be increased from 70% to 90%, which will increase the pension of many retired seniors.
In addition to the basic pension insurance for employees, some urban and rural residents will also usher in pension adjustments. In December 2023, Shandong Province and Fujian Province announced that they would increase the basic pension treatment level of urban and rural residents' pension insurance. In January 2024, urban and rural residents in these two provinces will receive the new standard of pension benefits.
The treatment of pension insurance for urban and rural residents mainly includes two parts: basic pension and personal account pension. Although the pension insurance treatment of urban and rural residents is generally low, the gradual improvement policy will improve the pension level of this part of the population.
With the arrival of 2024, the pension level of retirees is expected to continue to increase. This not only represents the importance of the life security of the elderly, but also reflects the society's concern for the well-being of the elderly. Although pension growth is not the same for everyone, the overall trend is positive.
If you or your family are at retirement age, or are nearing retirement, knowing about pension adjustments is important for planning for the future. In 2024, let's look forward to more good news to make retirement more secure and beautiful.
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