Economic Observer Online
By Jiang Yunzhang (降蕴彰)
Jan 10, 2013
Translated by Pang Lei
Original article: [Chinese]

As of Jan 1, 2013, the basic pension paid to some retired workers in China will be lifted by 10 percent on the amount paid in 2012, China's State Council decided at a meeting held on Jan 9.

According to what one expert told the EO, the Chinese government has lifted the basic pension every year since 2005.

In 2005, the average basic pension was 700 yuan a month, by 2012 this had increased to 1,721 yuan a month.

This year's increase, the ninth in as many years, will see the average monthly pension payment increase to 1,893 yuan.