Will the pension be adjusted in March 2024? If so, what is the adjustment process?
With the end of the New Year's Day holiday in 2024, people's work and life have begun to speed up, and it is now mid-February, and March is not far away.
From March onwards, the climate gets warmer and the land gets warmer. If the pension revision in March next year will not be as expected, will the pension revision for 2024 be announced in March? If so, what is the adjustment process? Let's take a look.
Will pensions be readjusted in March?
When it comes to the adjustment of pensions, it is necessary to mention the Social Insurance Law, which is a special social insurance regulation that clearly regulates the adjustment of pensions.
Article 18 of the "Labor Security Regulations" clearly points out that China should make regular adjustments to the social pension insurance system in accordance with the level of labor remuneration and the price level.
With a legal basis, the adjustment of the pension will be grounded.
Since 2005, pension insurance has grown for 19 consecutive years, and if it continues to grow in 2024, it will reach a 20-month increase.
So, will pensions arrive in 2024?
Judging from the experience of the adjustment of retirees in the past, a conference in March will be a major channel for understanding the retirement age of retirees, and the relevant report of this meeting will explain the relevant information to retirees, which we can answer in this note on pensions.
In general, whether the pension should be adjusted depends on the "** Work Report", whether it looks at the 2024 budget, or both.
In fact, as early as the eve of the two sessions in March, there were related jobs in various provinces, such as Shanghai, Henan and other places, and some provinces proposed to increase the wages of retirees. There are also some provinces, such as Shanxi, Hebei and Ningxia, which have proposed to increase basic pension insurance.
In Sichuan's "30 practical matters of people's livelihood" this year, although the specific content of "pension insurance" is not mentioned, it also proposes to increase the "pension insurance" policy accordingly.
From all points of view, this pension increase is basically a sure thing, and the rest is the official statement.
If so, what is the process of doing so?
There are detailed procedures for the pension adjustment this time, generally there will be a news in March, there is no news in March, and it cannot be said that it is really hopeless, and when the time comes, the Ministry of Human Resources and Social Security is likely to directly announce the pension adjustment of retirees at the appropriate time.
In general, this is true.
Pension adjustment nationwide, by the Ministry of Human Resources and Social Security and the Ministry of Finance is specifically responsible for the implementation, which involves the pension increase issue, pension adjustment program issues, pension adjustment in some special provisions, etc. The pension adjustment plan announced by the National Bureau of Statistics shall be drawn up by the provinces themselves, and submitted to the Ministry of Human Resources and Social Security, the Ministry of Finance and other departments for filing and review.