How much is the pension increase?

In accordance with the requirements of the Ministry of Human Resources and Social Security and the Ministry of Finance "Notice on the adjustment of basic pensions for retirees in 2022" (Ministry of Human Resources and Social Security issued [2022] No. 27), with the consent of the provincial government and the approval of the Ministry of Human Resources and Social Security and the Ministry of Finance, we hereby notify you of the following matters related to the adjustment of basic pensions for retirees in 2022.

I. Adjustment time and scope

From January 1, 2022 onwards, for December 31, 2021 has been in accordance with the provisions of the retirement procedures and receive the basic pension on a monthly basis of enterprises and institutions retired (including retired, hereinafter the same) adjustments to the basic pension.

Two, adjustment methods and standards

Adjustment of the basic pension of retirees to take a fixed amount of adjustment, pegged adjustment and appropriate tilt combination of methods.

(A) fixed adjustment

Retirees per person per month by 30 yuan.

(B) linked adjustment

1. Linked to the number of years of contributions (years of service). Retirees with less than 25 years of contributory service, each full year, an increase of 1 yuan per month; 26 to 30 years of contributory service, each full year, an increase of 2 yuan per month; 31 to 35 years of contributory service, each full year, an increase of 3 yuan per month; 36 years of contributory service and above, each full year, an increase of 4 yuan per month. The above years of contribution (including deemed years of contribution, excluding the commuted years of special types of work) are calculated on a one-year basis for the part of less than one year. Retirees who participated in the basic pension insurance according to the policy of "five-seven family workers" are not involved in the adjustment of the contribution period.

2. Linked to the basic pension level. The monthly increase for retirees is 1.33% of their monthly basic pension (excluding occupational pension) at the end of 2021.

(C) tilt adjustment

The following retirees then appropriately increase the basic pension.

1. Senior retirees. As of December 31, 2021, those aged 70-74 will receive a monthly increase of 25 yuan; those aged 75-79 will receive a monthly increase of 35 yuan; and those aged 80 and above will receive a monthly increase of 45 yuan.

2. Retirees from enterprises and institutions in counties (cities and districts) within the scope of difficult and remote areas will be given an increase of 5 yuan per person per month.

3. Enterprise retired military cadres adjusted according to the above standards, the basic pension is not up to the adjusted local (in the city, county, the province directly under the management of the coordinated unit for the province) enterprise retirees monthly per capita basic pension level, make up to that level.

(D) other matters

1. Organizations and institutions after the reform of the pension insurance system (October 1, 2014), the new retirees, if currently receiving temporary approved treatment, the current temporary approved treatment for the time being as the basis for determining the level of pensions pegged to adjust the standard, to be re-approved in accordance with the reform of the basic pension, the treatment has been received more than the return of less than make up for it.

2. Has participated in the basic pension insurance of enterprise employees of institutions retirees, the basic pension issued by the social insurance agency to adjust the basic pension according to the aforementioned methods and standards for the adjustment of enterprise retirees. Among them, in line with the conditions of basic pension insurance for institutions, to be handled after the transfer of pension insurance relations, the social insurance agency to recalculate the treatment adjustment standard.

3. The adjusted increase in basic pension for retirees will be charged to the balance of their individual account and the overall fund respectively, in accordance with the proportion of the individual account pension and basic pension to the basic pension at the time of retirement, and all of them will be charged to the overall fund when the balance of the individual account is zero. When calculating the individual account balance and the proportion of payment from the integrated fund, the transitional pension is combined with the basic pension.

Third, the funding channels

(a) retirees who participate in the basic pension insurance for enterprise employees, the funds required to adjust the basic pension from the basic pension insurance fund for enterprise employees. Retirees who do not participate in the basic pension insurance for enterprise employees can refer to the implementation of the funds required to adjust by the original channel.

(2) Retirees who meet the conditions for participating in the basic pension insurance for institutions, whose basic pensions have been issued by the social security agency, the basic pensions increased by the adjustment will be issued by the social security agency; if the basic pensions have not yet been issued by the social security agency, the adjusted increase in the basic pensions will still be issued by the original channels. After the full implementation of pension insurance for institutions, the basic pensions of retirees will be settled in accordance with the relevant policies and regulations by the financial departments at all levels, social insurance agencies and insured units in accordance with the principle of "more refund, less compensation".

Four, approval and issuance

(a) adjustments to the basic pensions of enterprise retirees, by the retiree treatment issued by the Social Insurance Bureau in accordance with the adjustment method to approve the new treatment, to arrange for funding, and organization of issuance. Those who have not participated in the basic pension insurance for enterprise employees, the new pension payment is still organized and implemented in accordance with the original channels.

(2) Adjustment of basic pensions of retirees of institutions, by the retiree treatment issued by the Social Insurance Bureau in accordance with the adjustment method to approve the new treatment, arrange funds, and organize the issuance. Among them, should participate in the organs and institutions of the pension insurance temporarily, by the local human resources and social security departments to perform the approval procedures, the unit and the competent authorities in accordance with the original funding and security channels to organize and implement the issuance.