Retirement pensions can go up by how much in 2024

Retirement pension 2024 can be adjusted upward by 0.25%.

The age subsidy rate of 0.25% for old age pensions, for example, the age subsidy rate that decreases year by year can be used to adjust the relationship between the number of years of deemed contributions and the number of years of contributions and to solve the problem of basic pension insurance with or without personal contributions to the transitional pension. The labor subsidy rate is equal to 50 percent of the labor pension percentage.

Retirement pension method:

1, prepare the application materials: one month before reaching the legal retirement age, prepare a copy of personal ID card (for the pension insurance payment card), personal photo (for the retirement certificate) and other materials. If the employee has an employer, the social security personnel commissioner of the unit will fill out the retirement approval form based on the specific circumstances of the employee and submit it together with the person's file.

2. Submit the application and review: Submit the prepared application materials to the social security organization for review. After the audit, the social security agency will calculate the specific pension and issue the approval.

3, pension payment: after the audit is completed, the social security department will pay the pension in accordance with the social security regulations, usually the pension will be issued directly to the individual's social security card. Retirees can start receiving their pensions from the month following their retirement.

In summary, to receive a retirement pension, you need to fulfill the conditions of age and years of contribution, and follow the prescribed steps for application and review. During the application process, you need to prepare relevant documents and submit them to the social security organization, and you can receive a monthly pension after the audit is approved. For the payment of retirement pension, it is usually paid directly through the social security card, which is convenient for retirees to use.

Legal basis:

The Social Insurance Law of the People's Republic of China

Article 71

The State establishes the National Social Security Fund, which consists of funds allocated from the central fiscal budget as well as funds raised by other means approved by the State Council, and is used for supplementing and adjusting social security expenditures. The National Social Security Fund shall be managed and operated by the National Social Security Fund Management and Operation Organization, and its value shall be preserved and increased on the premise of ensuring safety.