China. Beijing raises retirement pensions
Beijing released a scheme to adjust basic pension for retirees, increasing 50 yuan ($7.13) per month for each person, according to the Beijing Municipal Human Resources and Social Security Bureau on Tuesday.
The new scheme, which starts on Wednesday is expected to benefit nearly 3.97 million Beijing residents, including retirees of Beijing enterprises, government bodies and institutions.
Wu Xiaojun, deputy director of the Beijing Municipal Human Resources and Social Security Bureau, said the adjustment of the basic pension will help retired people secure a better life despite the pandemic.
It is the 28th time that the capital city has increased the pension for retired employees of enterprises and the fifth time since 2016 that it has adjusted the pension for retirees of both enterprises and government bodies simultaneously, Wu said at a news conference.
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