Reported 9 months ago
Due to recent inflation, the labor pension has been adjusted with a mechanism to avoid being eroded by inflation. With adjustments ranging from 5.51% to 7.59% for 8 annual pension payments, it is the highest increase ever. An estimated 850,000 workers are benefiting from this adjustment, which is being received for the first time today. According to the Labor Insurance Act, pension amounts are adjusted based on the Consumer Price Index when it reaches a 5% cumulative growth rate. The adjusted pensions covering 8 years will resume in July, with extra amounts included in the first payment for June.
Source: YAHOO