The minimum standards for basic pensions in Shandong residents will be improved!Each person increases 10 yuan per month to benefit 16 million people in the province

Recently, with the consent of the Shandong Provincial Party Committee and the Provincial Government, the Provincial Department of Human Resources and Social Security and the Provincial Department of Finance jointly issued a notice that since July 1, 2022, the minimum standard for basic pensions for basic pension insurance in our province is per month. The 150 yuan was increased to 160 yuan, that is, an increase of 10 yuan per person per month, an increase of 6.67%, and directly benefited from the province's 16 million residents' endowment insurance benefits from the province.

According to the national system, residents' endowment insurance benefits are composed of basic pensions and personal account pensions. From the perspective of our province, these two parties show a "dual growth" trend. On the one hand, basic pension standards have been continuously improved. Since the establishment of the system in 2009, our province has improved the minimum standards for basic pensions nine times. According to their own actualities, some cities, counties (cities, districts) have further improved basic pension standards based on the minimum standards stipulated in the province. At the same time, our province has established a proper tilt policy for residents of urban and rural areas 65 and above. The treatment of people aged 65-74 and 75 (inclusive) or more. The standard is 5 yuan, 10 yuan. On the other hand, the level of personal account pension has continued to improve. Our province has adopted measures to establish a pension incentive mechanism for payment periods, improve the adjustment mechanism for payment subsidies, and carry out investment and operation of fund entrustment to encourage residents to participate in early insurance, long payment, and continuous insurance. The level of fund income continues to increase the accumulation of personal accounts and improve its own pension guarantee level.

In the next step, our province will focus on improving residents' endowment insurance policies, optimize and adjust the grade of pension insurance for residents, and promote the gradual improvement of residents' pension insurance treatment levels with economic development, ensure the healthy and smooth operation of residents' pension insurance system, and better meet the increasing growth of the people. The need for endowment protection, continuously enhance the sense of gain, happiness, and security of the insured residents.

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