The State Council executive meeting on January 8 made a decision that starting from January 1, 2014 the basic pensions for corporate retirees will be raised by 10% based on the basic level of their monthly pensions per capita in 2013. According to the decision, pensions of enterprise retirees in Changzhou will be increased by about 200 yuan a month.
The State Council executive meeting suggested that China had been kept raising pensions of enterprise retirees for 10 years since 2005. With an adjustment rate no less than 10% this year, Changzhou has continuously raised pensions for 13 years since 2000, which rendered the pension doubled that of 13 years ago.
By the end of 2013, the number of enterprise retirees in Changzhou who attended endowment insurance was 1.261 million, with 397,000 pensioners.
The average pension for enterprise retirees is 2,033 yuan per month in Changzhou, which will be increased by 200 yuan according to the new rules.
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