China to raise basic pension payments by 4.5%

BEIJING - China will raise the basic pension payments for retirees in 2021, the 17th consecutive year of increase, the Ministry of Human Resources and Social Security said Friday.

The average monthly payment for pensioners of enterprises, government agencies and public institutions will be increased by 4.5 percent from the 2020 level, according to the ministry.

Last year, China raised the basic pension payments for retirees by 5 percent from the previous year level.