How much will retirement pay rise this year? In 2023.

In 2023, the basic pension for retirees will be raised by about 5%, and the specific increase will be subject to the actual operation in various places. In addition, pensions for employees of enterprises and retirees of government agencies and institutions will also be appropriately improved.

In 2023, the basic pension for retirees will be raised by about 5%, and the specific increase will be subject to the actual operation in various places. This is based on the Notice on Doing a Good Job in the Operation and Supervision of the Basic Endowment Insurance System for Employees in 2023 and the Notice on Doing a Good Job in the Operation and Supervision of the Basic Endowment Insurance System for Urban and Rural Residents in 2023 issued by the General Office of the State Council. In addition, pensions for employees of enterprises and retirees of government agencies and institutions will also be appropriately improved. It is worth mentioning that although the basic pension level has improved, the actual amount of pension may not change much due to the increase of deductions such as individual tax and social security fees. Therefore, retirees still need to look at the increase rationally and cannot overestimate it. Finally, it should be noted that the operating standards raised in different places may be different. For example, Shanghai will raise the basic pension for retirees by 5.5% in 2023. Therefore, the specific situation needs to pay attention to the implementation of local policies.

How is the final increase of retirees' pension determined? The increase of retirees' pension needs to consider many factors, including national finance, social security contribution income, population aging and so on. At the same time, the calculated payment period and the average monthly salary level also affect the increase. Generally speaking, the state will calculate the annual increase of basic pension according to a certain calculation formula, and then all localities will operate according to the standard. Specific standards may also vary according to different regions and industries. The specific value of the pension increase of the final retirees shall be subject to the actual operation in various places.

In 2023, the basic pension for retirees will be raised by about 5%, and the specific increase will be subject to the actual operation in various places. Retirees need to look at the increase rationally and pay attention to the implementation of local policies. The increase of retirees' pension is determined by many factors, and the standards in different places may also be different due to different regions and industries.

Legal basis:

Article 585 of the General Principles of the Civil Law of People's Republic of China (PRC) * * * The parties may agree that if one party breaches the contract, it shall pay a certain amount of liquidated damages to the other party, or they may agree on the calculation method of damages for breach of contract. If the agreed liquidated damages are lower than the losses caused, the people's court or arbitration institution may increase the liquidated damages at the request of the parties; If the agreed liquidated damages are excessively higher than the losses caused, the people's court or arbitration institution may appropriately reduce them at the request of the parties. If the parties concerned pay liquidated damages for delayed performance, the breaching party shall also perform the debt after paying the liquidated damages.