Guangdong Elderly Pension to go up 10 percent every year

Guangdongs plan for raising pension for local elderly this year is waiting for central governments green light. According to this plan, Guangdong will raise its elderly pension by 10 percent every year in the future.

Currently, Guangdong are paying pensions to over 2 million retired persons, who received an average 890 RMB every month in the year 2006. From 1994, Guangdong was scheduled to raise its elderly pension every July. In recent years, the pension kept going up by about 10 percent annually.