403
Sorry!!
Error! We're sorry, but the page you were looking for doesn't exist.
China Poised to Increase Pension Benefits by 2 Percent in 2025
(MENAFN) China declared on Thursday that it will increase basic pension benefits for retirees in 2025, marking the 21st year of consecutive rises.
According to a joint circular from the Ministry of Human Resources and Social Security and the Ministry of Finance, monthly pension payments will be generally raised by 2 percent based on the 2024 average level. The circular emphasized that the adjustment will give priority to those receiving lower pension amounts.
In 2024, pension benefits were increased by 3 percent compared to the previous year.
Facing a rapidly aging population, China has made elderly care a national priority. Recent statistics indicate that the average life expectancy in China has climbed to 79 years. By the end of 2024, over 310 million Chinese citizens were aged 60 or older, representing 22 percent of the total population.
Furthermore, the government has committed to speeding up the growth of third-pillar pension schemes and advancing the implementation of a private pension system, as outlined in this year’s government work report.
According to a joint circular from the Ministry of Human Resources and Social Security and the Ministry of Finance, monthly pension payments will be generally raised by 2 percent based on the 2024 average level. The circular emphasized that the adjustment will give priority to those receiving lower pension amounts.
In 2024, pension benefits were increased by 3 percent compared to the previous year.
Facing a rapidly aging population, China has made elderly care a national priority. Recent statistics indicate that the average life expectancy in China has climbed to 79 years. By the end of 2024, over 310 million Chinese citizens were aged 60 or older, representing 22 percent of the total population.
Furthermore, the government has committed to speeding up the growth of third-pillar pension schemes and advancing the implementation of a private pension system, as outlined in this year’s government work report.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Most popular stories
Market Research
- Pepeto Presale Exceeds $6.93 Million Staking And Exchange Demo Released
- Citadel Launches Suiball, The First Sui-Native Hardware Wallet
- Luminadata Unveils GAAP & SOX-Trained AI Agents Achieving 99.8% Reconciliation Accuracy
- Tradesta Becomes The First Perpetuals Exchange To Launch Equities On Avalanche
- Thinkmarkets Adds Synthetic Indices To Its Product Offering
- Edgen Launches Multi‐Agent Intelligence Upgrade To Unify Crypto And Equity Analysis
More Story
Comments
No comment