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Why does social security rise so much every year?
Legal basis: People's Republic of China (PRC) Social Insurance Law.
Article 6 The State exercises strict supervision over social insurance funds. The State Council and the people's governments of provinces, autonomous regions and municipalities directly under the Central Government shall establish and improve the supervision and management system of social insurance funds to ensure the safe and effective operation of social insurance funds. People's governments at or above the county level shall take measures to encourage and support all sectors of society to participate in the supervision of social insurance funds.
Article 18 The state establishes a normal adjustment mechanism for basic pensions. According to the average wage increase and price increase of employees, the basic old-age insurance treatment level will be improved in a timely manner.
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