With the deepening of the aging process of China's population and the substantial increase in the number of retirees, how to let the majority of retirees live a happy and healthy life in their old age is a major issue facing the country.
In order to better protect the basic life of retirees, the state has decided to make a series of major adjustments and improvements to the pension system, which indicates that the retirement group will usher in a series of pension welfare policy dividends in the new year.
The basic pension standard will be increased, and nearly 400 million retirees will benefit. According to the data released by various places at the end of last year, from January 1, 2024, the basic pension level of retirees across the country will be raised to a new height. The pension base in various regions has generally been increased by 3%-4%, which means that retirees who receive basic pensions on a monthly basis will have a lot more pension income than before.
The following factors are mainly taken into account in the increase of the basic pension standard:
1.Reflect the level of economic and social development and match price changes: The increase in the basic pension standard fully reflects the environment of sustained and rapid economic growth in China, as well as the reality of steady consumption of residents, to ensure that the pension security of retirees can keep up with the pace of economic development and price changes.
2.Respond to the reasonable expectations of retirees for old-age security: In the context of China's continuous promotion of the quality of people's livelihood, improving the basic pension standard can respond to the reasonable needs of retirees for a higher quality of old-age life, so that they can more directly feel the dividends of the fruits of reform and development.
3.Improve the level of basic pension security and enhance the sense of gain: By appropriately raising the basic pension standard, the basic living security level of retirees can be improved, so that their sense of gain and happiness can be significantly increased. This will also play a positive role in maintaining social harmony and stability.
The personal pension system will be launched, and the multi-level pension pattern will be initially formed. The reform of the pension system also launched an important initiative - the start of the personal pension system.
This system encourages and supports individuals to save for old age, and is the second pillar established in addition to the basic pension insurance. It is set up to provide a significant additional income for retirement**.
The main features of the personal pension system include:
1.Improve the multi-level pension system and realize the risk diversification at the macro level: the establishment of personal pensions has transformed China from a single social pension to an inclusive personal savings, enterprise annuity and other forms of pension security system. This will help to diversify the financial risk of basic pension insurance and improve the overall sustainability of the social security system.
2.Motivate personal behavior and improve the awareness of elderly planning: personal pensions have moderate tax incentives, which can motivate individuals to take the initiative to accumulate funds for retirement life savings and choose suitable pension products. This will greatly improve the awareness of elderly risks and planning in the whole society.
3.Realize the customization of personal needs, and make retirement life richer and more flexible: personal pensions can choose the method and period of receiving them independently, so that various groups can achieve personalized pension, and retirement life will be more colorful. If you want to enjoy retirement life directly, you can receive it in installments, and if you want to continue investing, you can roll over the income.
4.Enhance the sense of gain and security, and improve retirement satisfaction: Additional pension income** can significantly improve the quality of retirement life, so that the elderly can enjoy the reform dividend and obtain a stronger sense of happiness and security.
Sum up. From January 2024, China will launch a series of pension system reforms, the basic pension standard will be further improved, and the personal pension system will be launched, which will allow retirees to share the fruits of reform and development more directly and live a more healthy and comfortable life in their later years.
Retirees, let's look forward to the implementation of these pension welfare policies and enjoy a happy old age!