Raising farmers' pensions is a historic opportunity before us

In recent years, increasing farmers’ pensions has been a hot topic at the National People’s Congress and the Chinese People’s Political Consultative Conference.

Last year, I wrote that most farmers receive very modest pensions after retirement. I suggested that the government increase fiscal investment significantly to raise farmers’ pensions to meet the minimum living security standards. This plan not only has no fiscal pressure and can achieve fiscal balance but also can promote consumption and stimulate the economy. It is a key path for economic recovery.

Raising farmers’ pensions to meet basic living security standards is not an excessive demand

According to relevant documents from the State Council, the rural minimum living security standard is the amount needed to cover basic expenses such as food, clothing, water, and electricity for rural residents to maintain their basic livelihood throughout the year. In 2024, the nationwide rural minimum living security standard is 574 yuan per month, but the basic pension minimum standard for farmers is only 143 yuan, less than a quarter of the minimum living security standard.

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