China moves forward with 2023 pensions for retirees

China announced Monday that it will increase the basic pension for retirees in 2023, the 19th consecutive year of increase.

Circular jointly issued by the Ministry of Human Resources and Social Security and the Ministry of Finance of China Indicates that the average monthly basic pension payment is paid to the entity's payees. government agency and public institutions will increase by 3.8 percent from 2022 levels.

China raises basic pension for retirees by 4 percent in 2022 from the previous year's level. China attaches great importance to caring for the elderly. Because the country is facing an aging population.

By the end of 2022, the number of Chinese people aged 60 and over exceeded 280 million, accounting for 19.8 percent of the country's total population.

recently China has issued guidelines to support the construction of "Basic Elderly Care System" amid efforts to proactively implement a national strategy on aging population and ensure equal access to public services-Xinhua News Agency

Source: Thai News Agency