Ningbo raises pension for enterprise retirees
- Details
- Category: Ningbo Business
- Published: Monday, 12 March 2012 13:35
According to Ningbo Bureau of Human Resources and Social Security, Ningbo has raised pensions for enterprises retirees by an average of 220 yuan per person per month from January 1, 2012, which represents a total of 990 million yuan annual increase in pension expense.
There are 370,000 enterprise retirees in Ningbo, whose average monthly pension stood at 1840 yuan last year, higher than the provincial and the national average. The recent pension adjustment aims to benefit retirees who proceed retirement according to national, provincial and municipal regulations before April 30, 2012.
It is learned that the recent adjustment benefits three types of retirees, namely, retirees who are employed before 1953, retirees over 70 years old ( 65 years old for female), and retirees with senior professional titles.
According to Ningbo Bureau of Human Resources and Social Security, 240,000 urban retirees have received the raised pensions on March 5 while the rural retirees will receive them around March 8. Besides adjustment on retirement pensions, the municipal government are mulling pension adjustment of other employees
