It’s settled! The basic pension for retirees increased by 4.5%

　　With the approval of the CPC Central Committee and the State Council, the Ministry of Human Resources and Social Security and the Ministry of Finance recently issued the Notice on Adjusting the Basic Pension for Retirees in 2021, which clearly stipulates that from January 1, 2021, the basic pension level will be raised for retirees of enterprises, institutions and institutions who have gone through the retirement formalities according to regulations and received the basic pension on a monthly basis before the end of 2020, and the overall adjustment level will be 4.5% of the monthly basic pension for retirees in 2020. In this adjustment, we will continue to adopt the adjustment method of combining quota adjustment, hook adjustment and appropriate inclination. The quota adjustment reflects social equity, and the adjustment standards for all types of retirees in the same area are basically the same; The adjustment of the hook reflects the incentive mechanism of "paying more and getting more" and "paying more for a long time", so that those who pay more and pay more for a long time can get more pensions; Appropriate tilt reflects the key concern, mainly for the elderly retirees and retirees in hard and remote areas and other groups to take care of. The Circular requires that all provinces, autonomous regions and municipalities directly under the Central Government should formulate specific implementation plans in light of local conditions, promptly organize their implementation, and distribute the adjusted and increased basic pensions to retirees as soon as possible. (CCTV reporter Zhang Wei)