Population aging has become a common topic in the world, and the status of the old-age security system in the sustainable development of the national economy is becoming more and more prominent. As one of the most populous countries in the world, China is actively responding to and gradually increasing the level of pension subsidies in the face of the increasingly severe pressure of the size of the retirement team and the rising cost of living. This article will focus on China's old-age security policies and latest developments, **The relationship between old-age security and macroeconomic and living conditions. The scale of the domestic pension team has increased significantly, and the pressure on pension security has intensified
In recent years, China has undergone a major transformation of its population structure, and the aging of the population has become increasingly serious. According to statistics, by the end of 2023, the number of people aged 60 and above in China will exceed 26.7 billion, accounting for 18 percent of the total population9%；Among them, the population aged 65 and above exceeds 200 million, accounting for 142%。This means that China is entering the stage of deep aging, and the issue of old-age care has become a national strategic issue that needs to be solved urgently.
Because the expectations of the elderly for later life are closely linked to the expected income, and the size of this group, therefore, the pressure on the pension security system is increasing over time. Today, the country has accumulated 13.6 billion retired employees of enterprises and retired cadres of government institutions and institutions have entered their retirement careers, and the huge pension group has paid more and more attention to retirement benefits, giving China the most important responsibility to provide pension security services. In order to cope with this challenge, China will take a series of effective measures to ensure the stability and sustainability of the old-age security system.
The pension adjustment is expected to benefit retirees across the country
Since 2005, the growth rate of China's basic pension insurance payment base has always been maintained at a relatively fast rate, so that the pension level continues to be the best. The state's adjustment of pensions is also strengthening year by year, and all provinces and cities across the country have successively introduced pension adjustment policies in accordance with local conditions.
It is worth noting that it is expected that in 2024, this will be the 20th consecutive year of China's pension policy, which is undoubtedly good news for the majority of retirees. Pension adjustment plans in various provinces and cities have been launched, such as Shanghai and Henan have made it clear that they will make reasonable adjustments to pensions, which will greatly improve the quality of life of retirees. The data show that China's financial strength is strong and has enough financial resources to support the increase of pensions, thus ensuring the stable growth of pensions. This fully demonstrates that our country attaches great importance to the issue of pension, and we will take effective measures to improve the quality of life of retirees.
The growth of the level of pensions is closely related to the macroeconomy and the standard of living
With the continuous development of the economy, the wages and remuneration of workers have also shown a trend of increasing year by year, with an average annual growth rate of nearly 71%。However, it is worth noting that prices are also rising year after year, and the cost of living is gradually increasing, which puts forward higher requirements for the living standards of retirees.
The increase in workers' wages and the rise in prices have a direct impact on the actual pension of retirees. As employees' salaries rise, so does the base amount of pensions. But on the other hand, the price of the first will inevitably affect the actual purchasing power of the pension, and it is necessary to comprehensively consider these two factors to determine the specific adjustment range of the pension.
Fourth, in response to policy differences, various localities provide targeted benefits for enterprise retirees over 65 years old.
At present, in the implementation of pension adjustment, all parts of China generally adopt the method of combining fixed amount, linkage and oblique adjustment. For those retired residents who are older or in remote areas, the oblique adjustment measures are mainly aimed at meeting their living needs as much as possible. However, in the specific implementation process, due to the influence of geographical location, policy environment and other factors, there is a certain gap in the effect of the policy implemented in different places.
Beijing has defined the age of 65 or older as the elderly group, and retirees in this age group are entitled to additional pension benefits. Beijing** does this not only to be able to effectively solve their living difficulties, but also to care deeply for the elderly retirees. In contrast, many other provinces and regions require retirees to receive preferential treatment only after they have reached the age of old, resulting in differences in the benefits of retirees over 65 in different regions.
In addition, some cities have additional age-specific policies, such as Shanghai, Shandong and Anhui. Such an approach could help to further increase the pension level of retirees over the age of 65 and promote a happy old age.
Conclusion
To sum up, the pension adjustment in 2024 is expected to bring more benefits to corporate retirees over the age of 65. ** We should continue to increase the attention and support for the pension issue to ensure the basic living needs of retirees. At the same time, we should further refine and improve the pension adjustment policy, consider the differences in different regions, ensure that the pension adjustment is more fair and reasonable, and provide better living security for the majority of retirees.