Basic Pension Benefits Adjustment Policy: Process, Evaluation and Recommendations

Pension adjustment is an important mechanism to enhance the sense of gain and improve the life quality of retired workers. This paper sorts out the historical evolution and development characteristics of China's basic pension benefit adjustment policy since the reform and opening up, and then analyzes the reasons for the formation of external intervention adjustment. Based on this, a comprehensive and systematic evaluation of China's pension adjustment policy is carried out. This paper sumarizes the practical problems existing in the adjustment of basic pension benefits, such as the vague concept of the establishment, the poor effect of the operation practice, the obvious difference between different regions and the poor adaptability. Finally, based on the clarifying the objective positioning of the benefit adjustment mechanism, some policy suggestions on establishing an automatic, transparent and financially sound pension adjustment mechanism was put forward..