1952 minimum standard of pension replacement rate

According to the current provisions of the ILO Convention on Minimum Standards of Social Security, by 2023, the minimum replacement rate of pensions will be 55%.

The pension replacement rate mainly refers to the ratio of workers' pension level when they retire to their pre-retirement wage income level. When the pension replacement rate is reduced to about 40%, it has been seriously lower than the normal level, indicating that there are serious problems in the reform of enterprise pension insurance.