A senior official from China's Ministry of Labour and Social Security has revealed that the State Council hopes to raise the pension over the next three years.
The official told Xinhua that China has adjusted the retirement pension for retired people from enterprises seven times since 1999.
After recent adjustments, the retirement pension reached over 900 yuan per month, increasing by 436 yuan from its original starting point.
The official said that under rapid economic development, appropriately adjusting the pension in time will elevate the retired people's life security, enabling them to equally share in the social and economic development of the nation.
(Xinhua News Agency October 7, 2007)