Learned from the Shenzhen Social Insurance Fund Management Bureau, Shenzhen will increase pensions for enterprise retirees starting January 1st, 2009. The average pension will be increased by approximately 246 yuan per person per month. According to Guanghua Wang, Director of the Department of Old-age Insurance of the Shenzhen Social Insurance Fund Management Bureau, this adjustment applies to retirees from enterprises in Shenzhen (including city-converted retirees) who have completed the procedures to receive basic pensions at social security institutions before December 31st, 2008. In total, it covers 1.36 million people. Currently, these individuals on average receive a basic pension of 2200 yuan per person per month. After the adjustment, each individual will receive an additional 140 yuan per month. Further increases of 5 yuan per year will be given based on each individual's contribution period. Individuals meeting certain conditions will receive further increases. Overall, after the adjustment, each individual will receive an average increase of 246 yuan per month.