It is clear that the overall adjustment level of retirees who have gone through the retirement formalities and received the basic pension on a monthly basis before 20 161February 3 1 6 is determined according to about 5.5% of the monthly basic pension for retirees in 20 16.
The "Notice" proposes that the adjustment of the basic pension for retirees should take into account retirees from enterprises, institutions and institutions, and adopt a combination of quota adjustment, hook adjustment and appropriate inclination in accordance with the principle of general unification of adjustment methods. The quota adjustment should embody the principle of fairness; The adjustment of linkage should reflect the incentive mechanism of "more work, more contributions and more pensions", which can be linked to factors such as retirees' payment years (or working years) and basic pension level; For senior retirees and retirees from enterprises in hard and remote areas, the adjustment level can be appropriately improved. The funds needed to adjust the basic old-age pension shall be paid from the basic old-age insurance fund for enterprise employees, and from the basic old-age insurance fund for government agencies and institutions.
New policy of endowment insurance 20 17
The Notice emphasizes that all regions should take measures such as expanding the coverage of endowment insurance, strengthening fund collection, improving provincial overall planning, adjusting the structure of fiscal expenditure and increasing subsidies to endowment insurance funds, so as to improve the payment capacity of endowment insurance funds, and no new arrears can occur.
The "Notice" requires that all regions should attach great importance to it, earnestly strengthen leadership, carefully organize implementation, accurately interpret policies, correctly guide public opinion, and ensure the smooth progress of all work. According to the unified deployment of the State Council, combined with the actual situation in the region, formulate specific implementation plans, reasonably determine the adjustment level and adjustment methods, make careful arrangements for the organization and leadership, work progress and fund guarantee of pension adjustment, and organize the implementation after being submitted to the Ministry of Human Resources and Social Security and the Ministry of Finance for approval on May 3, 20 17. It is necessary to strictly follow the implementation plan approved by the two ministries, put all adjustment policies in place, and not raise the adjustment level or break through the adjustment policies by itself. Areas that raise the adjustment level by themselves will be criticized and accountable, and the central financial subsidy funds will be deducted accordingly.
On April 24, China's high social security rate has imposed a heavy burden on enterprises and individuals, but there is also a certain degree of "virtual fire". On April 23rd, an insider told beijing business today that at the 20th17th annual meeting of China Finance Association and the 2nd1th national financial theory seminar held at the weekend, Lou Jiwei, president of China Finance Association and chairman of the National Social Security Fund Council, explained in detail the difficult problems in the reform of China's old-age insurance system.
Lou Jiwei said that at present, although China's social security rate is very high, it still can't achieve actuarial balance. Apart from the reason that the aging rate is getting faster and faster, the key is that there are problems in the incentive mechanism and the willingness to pay endowment insurance is generally not high. Lou Jiwei revealed that at present, the reality of China's pension insurance payment is that many enterprises and individuals are willing to lower the payment base (income) to achieve the purpose of paying less. At present, the national average pension insurance payment base is less than 70% of the actual salary, which means that although the nominal burden rate of enterprises for pension insurance is 20%, the average actual burden ratio is only 14%.
New policy of endowment insurance 20 17
A vain high rate.
It is one of the important contents of this government reform to change the long-term high social security contribution rate and reduce the burden of enterprises and individuals. In recent years, from the central government to the local government, new policies to reduce the payment ratio of "five insurances and one gold" through various channels have emerged one after another. Some experts in the industry said that this means that the proportion of social security contributions except basic medical care and old-age insurance has been reduced as much as possible in China. In the future, relevant departments may choose to temporarily pay less or exempt unemployment and work-related injury insurance in industries with difficulties in starting a business and high tax burden, and the basic pattern of "five insurances and one gold" may be broken.
In this context, the pension insurance is still "sit tight" and the rate adjustment is very limited. In the field of social security research, most experts regard the basic old-age insurance as a "hard bone" in the reform of reducing the rate, which is not only because the old-age insurance is the "big head" with the heaviest payment ratio among the "five insurances and one gold", but also because this life-saving money is facing increasingly severe pressure of balance of payments, and local governments have been unable to make ends meet in the current period.
However, in fact, the seemingly high pension insurance rate has not been fully realized. According to Lou Jiwei, on average, about 30% of wages in China should be paid instead of basic old-age insurance, and the difference between the nominal burden rate and the actual burden rate of the unit is as high as 6%. In this regard, Qi Chuanjun, Deputy Secretary-General of the World Social Security Research Center of China Academy of Social Sciences, analyzed that there is indeed a problem that the payment base of China's old-age insurance is not solid. Although the payment rate has always maintained a high proportion, it has not actually reached this level. The root cause of this problem is not only the heavy burden brought by high rates, but also the lack of incentives in China's basic old-age insurance system. There is little difference in the level of protection enjoyed by people who pay according to low standards and high standards at the receiving stage. This view also coincides with Lou Jiwei's argument. "At present, the key to China's old-age insurance still cannot achieve actuarial balance is that the incentive mechanism is wrong, resulting in no incentive for everyone to pay insurance."
Lack of incentive mechanism can reduce income.
"Only when the principle of overpayment and overpayment is truly realized, the insured will take the initiative to pay the fees, and the moral hazard of all kinds of evasion and avoidance will automatically disappear. The reason why the housing provident fund system has a long life is that there are no' two rates' is because it follows the principle of overpayment and overpayment. Therefore, before reducing the rate, we should first comprehensively deepen the reform of the institutional structure. Without reform, it is impossible to reduce the rate. " Zheng Bingwen, director of the World Social Security Research Center of China Academy of Social Sciences, said.
In the industry's view, if during the Twelfth Five-Year Plan period, China mainly solved the fairness problem of the dual-track pension system for government agencies and institutions, the financial sustainability of the social security system will be the core issue to be faced during the Thirteenth Five-Year Plan period. Zheng Bingwen said that there is a balance between income and expenditure in China's old-age insurance system. The policy of "expenditure end" is very strong, and the scale of expenditure and the level of treatment are quite rigid. If the payment income ability of the "income end" can't meet the requirements of the "expenditure end", the difference between the two parameters is too far, which means that the income ability of the system is too poor.
Specifically, Zheng Bingwen said that the weak ability to pay income due to poor incentives in China's system is the first problem to be solved in the reform process. "Because the incentive of China's endowment insurance system is not ideal, the principle of paying more is not really established, the payment is seriously out of line with the rights and interests, and the system design is complicated, resulting in a considerable number of insured people not knowing how much they can get back when they retire." Zheng Bingwen said frankly that, in this case, it has become the choice of many employed people to hold more wages in their hands and only pay a basic pension.
"Moreover, the current unsatisfactory pension insurance management system in China also affects the financial capacity of the system. At present, China's dual collection system for old-age insurance premiums coexists, resulting in income not being in place. " Some experts in the industry bluntly said that according to the relevant regulations, the collection agencies of social insurance premiums are stipulated by the people's governments of provinces, autonomous regions and municipalities directly under the Central Government, which can be collected by tax authorities or social insurance agencies. At present, the situation is roughly equal to 50%. In the process of collection, in order to reduce the task base next year, the amount of collection completed by some local tax departments is often the minimum threshold, which also causes the local relevant departments to have no incentive to supervise the insured units and individuals to pay in strict accordance with the actual income level.
The effect of encouraging pensions to enter the market is unpredictable
In fact, the Ministry of Human Resources and Social Security has long been aware of the lack of incentive mechanism for endowment insurance. More than a year ago, the Ministry of Human Resources and Social Security made it clear that China is improving the incentive mechanism for overpaying. Taking the old-age insurance for urban and rural residents as an example, the Ministry of Human Resources and Social Security said that at present, the government pays the basic pension in full to the insured who meet the conditions for receiving treatment, and appropriately increases the basic pension for those who pay for a long time; For these people's personal account pensions, personal contributions and government subsidies for the insured are all included in personal accounts. The insured choose their own grades to pay, and the more individual contributions, the more government subsidies they enjoy, which also makes the more personal accounts accumulated, and the more personal account pensions the insured receive after reaching retirement age. However, many people in the industry said that these policies are relatively less attractive to the payers, and it is difficult to meet the more "heavy" payment pressure.
Zheng Bingwen suggested that the main means to improve the incentive mechanism of the system is to expand the proportion of individual accounts. The greater the proportion of individual accounts, the higher the enthusiasm of the insured, and the more likely it is to increase the incentive of the system and improve the ability to pay and earn, thus improving the ability to pay and sustainability of the system. From a long-term point of view, it is generally believed in the industry that only by entering the market and other means can the endowment insurance fund improve its ability to maintain and increase its value can it more effectively improve the enthusiasm of most people.
At the beginning of this year, Lu Aihong, deputy director and spokesperson of the Policy Research Department of the Ministry of Human Resources and Social Security, publicly stated that this year, China will prudently promote the investment and operation of the basic old-age insurance fund, take various measures to enhance the fund's support capacity, and basically finalize the first year of pension investment in the market. The tone of the word "stable" is the first.
In mid-March, there were also media reports. When Lou Jiwei publicly responded to the progress of the pension market entry, he said that all the relevant funds have already entered the market, and the investment is conservative. "The phased balance of the pension fund has just begun to enter the market, because its entrustment period is generally five years, and the time is short. If there is a big loss during the period, it will be difficult to balance after five years, so the investment direction of the fund will be conservative." In this regard, some insiders told beijing business today that it is obvious that there is still a long way for the pension fund to realize obvious appreciation through new investment means such as entering the market, and it is difficult to play the role of encouraging the insured to pay in a short time.
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