In order to ensure the living standards of retirees, China will establish a more perfect pension adjustment mechanism. The first is to adjust the pension on a regular basis, according to the price level and wage growth, the pension level is regularly adjusted to ensure that the quality of life of retirees does not decrease. This will enable retirees' economic income to keep pace with socio-economic development, allowing them to better adapt to changes in their lives. The second is to link the adjustment of pensions, which links the adjustment of pensions with the working years of retirees, the number of years of social security payment and other factors, encourages people to pay social security for a long time, and improves the level of pensions after retirement. This will not only motivate more people to actively participate in social security, but also provide retirees with more reliable financial security. Thirdly, it is to adjust pensions in a tilt, and give appropriate preference to special groups such as elderly retirees and retirees in difficult and remote areas, so as to increase their pension levels. This kind of preferential policy can better take care of the needs of vulnerable groups in old age, so that they can receive more care and support in their later years.
In order to meet the diversified needs of retirees, China will provide more flexible pension methods. The first is to increase the frequency of pensions, and retirees can choose to receive pensions on a monthly, quarterly or annual basis according to their needs. This flexible payment method can better meet the individual needs of retirees and make it easier for them to spend their pensions. The second is to provide a variety of ways to receive pensions, in addition to traditional bank cards, passbooks and other ways to receive pensions, you can also receive pensions through mobile apps, online banking, etc., so that retirees can be more convenient and efficient when receiving pensions. Again, retirees can receive pensions in different places, which solves the problem of inconvenience for retirees living in other places to receive pensions. This will give retirees more freedom in choosing where they live, whether they stay in their hometown or move with their children, and they will be able to enjoy the pension benefits they deserve.
In order to simplify the procedures for the certification of pension qualifications, China will introduce a more convenient certification method. The first is the implementation of online certification, retirees can be certified online through mobile APP, online banking, etc., without the need to go to the social security agency to handle it on-site. This online certification method is convenient for retirees, saving them time and energy. The second is data sharing, through data sharing with relevant departments, to achieve intelligent certification of pension qualifications and reduce the workload of manual review. This way of data sharing can not only improve the efficiency of certification, but also reduce errors and injustices caused by human factors, and make certification results more accurate and fair. The third is to expand the certification cycle and adjust the pension qualification certification cycle from once a year to once every two years to reduce the certification burden of retirees. This will reduce the frequency of work for retirees and make it easier for them to enjoy their pension benefits.
In order to further improve the investment income of pensions, China will broaden the investment channels of pensions. The first is to increase the investment varieties, under the premise of ensuring the safety of the pension, appropriately increase the investment varieties of the pension and improve the investment income. This diversified investment method can diversify risks and improve the stability of pension income. The second is to expand the scope of investment, encourage pension investment in various assets such as bonds, real estate, etc., to achieve diversified investment. This diversified investment method can better adapt to market changes and contribute to the appreciation of pensions. The third is to strengthen risk management, establish and improve the pension investment risk management system, and ensure the safety and stability of pension investment. This risk management approach can reduce the investment risk of the pension and ensure the security and stability of the pension.
In order to further improve the quality of life of retirees, China will improve the pension subsidy policy. The first is to increase the basic pension, according to the economic development situation, to increase the level of the basic pension in a timely manner, so that retirees can share the fruits of economic development. This measure to increase the basic pension can better meet the living needs of retirees, so that they can live a more stable and comfortable life in their old age. The second is to expand the scope of old-age subsidies, expand the scope of old-age subsidies to more retirees, and increase the pension level of old-age retirees. This policy of expanding the scope of the old-age allowance can better care for and accommodate the special needs of elderly retirees, so that they can receive more social care. The third is to set up a nursing subsidy for the disabled elderly, and for the disabled elderly, set up a special nursing subsidy to reduce their family burden. This kind of nursing subsidy policy can better pay attention to the special situation of the disabled elderly, so that they can receive more care and help.
Through the above five improvements, China's pension system will usher in major changes. The improvement of the pension adjustment mechanism will improve the living standards of retirees and enable them to better enjoy their old age. The flexibility of pension options will meet the diverse needs of retirees and improve their quality of life. The ease of obtaining pension eligibility will simplify the process for retirees and make it easier for them to receive their pension. The broadening of pension investment channels will increase the rate of return on pensions and ensure the sustainable development of pensions. The improvement of the pension subsidy policy will further care for and take care of the welfare needs of retirees and improve their quality of life.
To sum up, the pension will usher in five major improvements from next year, and this series of measures will bring tangible benefits to the majority of retirees. These improvements will further improve our pension system and improve the quality of life of retirees, so that they can better enjoy their old age. We have reason to believe that under the guidance of national policies, the pension system will continue to improve and bring better benefits and security to the majority of retirees.