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on september 13, the 11th session of the 14th national people's congress standing committee closed in beijing. the meeting voted to pass the "decision on the gradual delay of the statutory retirement age".

regarding this decision, the general office of the standing committee of the national people's congress held a press conference on september 13. at the press conference, li zhong, vice minister of the ministry of human resources and social security, said that with the delay of the statutory retirement age, the minimum payment period for receiving monthly pensions has also been adjusted accordingly, gradually increasing from the current 15 years to 20 years.

▲li zhong, vice minister of the ministry of human resources and social security

taking all aspects into consideration, the measures highlight the following two policies:

the first is to establish a five-year buffer period.the increase in the minimum contribution period will be implemented from 2030. for employees retiring between 2025 and 2029, the minimum contribution period will remain at 15 years. the main consideration is that some employees with a contribution period of about 15 years are approaching retirement, and the establishment of a five-year buffer period can reduce the impact on them.

the second is to take a gradual approach.for employees who retire after 2030, the minimum contribution period will not be raised to 20 years all at once, but will be adjusted in small steps, increasing by 6 months each year. this will make it easier for employees who have not yet reached the minimum contribution period to make insurance arrangements in advance.

li zhong said that the pension level of retirees is linked to the years and level of payment, and is closely related to the retirement age. that is, the longer you pay, the more you get, and the later you retire, the more you get. this can provide better protection for life after retirement.

red star news chief reporter wu yang reports from beijing

editor pan li responsible editor li binbin