China continues to raise basic pension payments for retirees

BEIJING, May 26 (Xinhua) -- China will raise the basic pension payments for retirees in 2022, the 18th consecutive year of increase, the Ministry of Human Resources and Social Security announced Thursday.

The average monthly payment for pensioners of enterprises, government agencies and public institutions will be lifted by 4 percent from the 2021 level, said a circular jointly issued by the human resources ministry and the Ministry of Finance.

Last year, China raised the basic pension payments for retirees by 4.5 percent from the previous year's level.