Social security in Beijing to rise with inflation
0 Comment(s)
Print
E-mail
China.org.cn, June 26, 2011
Beijing will adjust its social security allowance with inflation to lessen the impact of rising commodity prices, the Beijing News reported this morning.
The size of social security checks will grow on the following three conditions: The prices of food and cooking oil increase more than 40 percent for two or more consecutive months; prices of 10 kinds of non-staple foods such as grain, cooking oil, meat, eggs and vegetables rise, increasing basic food expenditure by more than 15 percent for more than three months, or prices of water, electricity and natural gas rise to account for 10 percent or more of low income families’ income.
Beijing has not released details on how the adjustments will be calculated. City authorities will finalize specifics based on the severity and nature of inflation.
