With the rapid development of China's social economy, the aging of the population is becoming increasingly prominent, and the pension system is facing great pressure. In order to ensure the well-being of the majority of retirees, China will introduce a series of major policies to reform the pension system in 2024. This article will give you a closer look at these policy changes and how they affect everyone's pension benefits.
1. Major policy adjustments to the pension system in 2024.
1.Delay the retirement age.
In order to alleviate the tension in the labor market and improve the efficiency of the use of social resources, China will gradually implement the policy of delaying the retirement age in 2024. Specific options may include delaying the retirement age by a few months each year until the target age is reached. This will help balance supply and demand and improve the sustainability of social pensions.
2.Increase the proportion of pension insurance contributions.
In order to enrich the pension reserve and ensure the pension treatment of retirees, China will appropriately increase the proportion of pension insurance contributions in 2024. This will help to enhance the strength of pension insurance and improve the ability to pay pensions.
3.Encourage the development of enterprise annuity and occupational annuity.
In order to enrich the multi-level pension insurance system and improve the pension benefits of retirees, China will increase the preferential tax policies for enterprise annuities and occupational pensions in 2024 to encourage more enterprises and individuals to participate.
4.Improve pension investment management.
In order to improve the investment income of pensions and ensure the preservation and appreciation of pensions, China will further improve the pension investment management policy in 2024, broaden pension investment channels, and realize diversified investment in pensions.
2. The impact of policy adjustments on everyone's pension benefits.
1.Delay the retirement age.
For young people, delaying the retirement age will help ease employment pressure and improve the efficiency of social resources. For those who are approaching retirement, the gradual postponement of the retirement age may bring some psychological pressure, but it will also help to improve pension benefits.
2.Increase the proportion of pension insurance contributions.
Increasing the proportion of pension insurance contributions will help enrich pension reserves and improve the ability to pay pensions. In the short term, this may increase the burden on businesses and individuals, but in the long term, it will help secure pension benefits for retirees.
3.Encourage the development of enterprise annuity and occupational annuity.
Increasing the preferential tax policies for enterprise annuities and occupational pensions will help improve the pension benefits of retirees. For those who participate in enterprise annuities and occupational pensions, this will increase their pension income** and increase the level of pensions.
4.Improve pension investment management.
Improving the pension investment management policy will help improve the investment income of the pension and ensure the preservation and appreciation of the value of the pension. This is a positive sign for all retirees, meaning that their pension benefits are expected to be further improved.
In 2024, the major policy adjustment of China's pension system aims to cope with the pressure brought by the aging population and ensure the well-being of the majority of retirees. These policy changes will have an impact on everyone's pension benefits, and we need to pay close attention to policy developments and prepare accordingly. At the same time, we should also actively support and participate in policy reforms, and work together to achieve sustainable development and improve the level of pensions.