The social insurance fund refers to the basic living needs of social workers when they lose their ability to work or lose their labor opportunities. Under the mandatory provisions of the law, social insurance is collected from workers and their units. fees, or funds directly allocated from the state finance. The issue of social insurance funds is the core issue of social insurance. Implementing two lines of revenue and expenditure, increasing financial intervention, taking the road of marketization and socialization, and adjusting through legislation are important ways to solve the current problems in the management of social security funds.

A few days ago, Xiang Huaicheng, chairman of the National Council for Social Security Fund, revealed that the country will revise the "Interim Measures for the Investment Management of the National Social Security Fund".

Xiang’s speech heralds that the country will have major reforms in the social security fund management system and methods. Relevant people pointed out that this kind of reform is also a decision made after seeing various problems that have occurred in the management of social security funds in the past. .

Social Security Fund Management Issues

There are still many problems in the management of social security funds in my country. Taken together, the following four aspects are more prominent.

First, the social security fund management agencies are dispersed and there are too many management levels, resulting in a lack of concentration of funds. All levels and departments are involved in the overall planning and management of social security funds, making it difficult to coordinate and centralize operations between regions and departments, making it impossible to achieve economies of scale, and at the same time expanding the investment risks of social security funds. In addition, each department has set up separate management agencies, resulting in organizational resets, bloated personnel, low efficiency, and serious waste.

Second, fund investment channels are single and difficult to maintain and increase value. my country's social security fund management focuses on ensuring its safety, with a single investment model. In addition to ensuring normal expenses, the balance is limited to depositing in professional banks or purchasing treasury bonds. In recent years, the continuous reduction of bank deposit rates has caused the fund yields to continue to decline. The interest rates of government bonds have also been significantly reduced due to the influence of bank deposit rates. The investment efficiency of social security funds has become worse and worse. Coupled with inflation, the value preservation of funds has also been reduced. It is a problem, and adding value is out of the question.

Third, the legal system is imperfect and supervision is weak. Our country lacks corresponding social security laws and regulations. There is a lack of corresponding legal resolution mechanisms for problems arising in various aspects such as the revenue and expenditure, management and operation of social security funds. There is also a lack of effective legal supervision afterwards. Social security funds have been misappropriated, expropriated and corrupted. phenomenon occurs frequently.

Fourth, the management of social security funds is not open and transparent. The payment and use of social security funds is an issue of great concern to the majority of employees. In accordance with the requirements of the State Council, social security fund management projects such as basic living allowances for laid-off workers, unemployment insurance benefits, and pension insurance payments should be open and transparent. Judging from the actual situation, social security funds have been misappropriated, misappropriated and corrupted frequently.

Solutions

In view of the many problems existing in the management of social security funds in our country, the following countermeasures can be taken to improve them.

First of all, the unemployment insurance fund must be deposited into the special financial account of the social security fund opened by the financial department in a state-owned commercial bank. It is managed on two lines of revenue and expenditure, and is supervised by the financial department in accordance with the law. By implementing dual-line management of revenue and expenditure, it not only clarifies the roles and responsibilities of social insurance agencies and financial departments in fund management and supervision, but also strengthens the means of fund supervision. Unemployment insurance funds are managed along two lines of revenue and expenditure, which is of great significance to ensuring the safety and integrity of the funds and preventing the misappropriation and abuse of funds.

The implementation of two-line management of revenue and expenditure means that the institutions responsible for the collection and payment of social insurance premiums, the financial department and the unemployment insurance agency open "social insurance fund income accounts" and "social security accounts" in state-owned commercial banks respectively. Fund financial account" and "unemployment insurance fund expenditure account". Income households are used to temporarily store and collect various fund incomes. In addition to allocating funds to the special financial account of the social security fund in accordance with regulations, they generally only receive but not make expenditures; expenditure households are mainly used to pay for fund expenditure items. In addition to accepting allocations from the special financial account in accordance with regulations, Except for incoming funds, it generally only disburses but does not collect; the special financial account is used to store funds, and its function is to accept funds transferred from the income account and allocate funds to the expenditure account. All expenditures of the unemployment insurance fund must be allocated from the expenditure account.

All funds from unemployment insurance fund income households should be transferred to the social security fund financial account on a regular basis. The financial department transfers funds from the social security fund fiscal account to the unemployment insurance fund expenditure account on a monthly or quarterly basis based on the unemployment insurance fund budget. When special circumstances require temporary adjustment of the payment amount of the unemployment insurance fund, the handling agency shall propose a payment plan, and allocate funds after review by the financial department; if the budget needs to be adjusted, the adjusted budget shall be implemented. Except for allocating funds based on the unemployment insurance fund budget and the use plan proposed by the handling agency, the financial department shall not arrange and use the unemployment insurance fund on its own.

Once this measure is fully implemented, the responsibilities, rights and interests of relevant departments will be clearly defined, which will effectively promote the management of social security funds.

Secondly, focus on the role of finance in the management of social security funds. Judging from the current situation, although the financial department is also involved in the management of the fund, it has not taken advantage of it.

Our country has not included social security funds in the fiscal budget. No one can say clearly how big the national social security funds are and how big the social security burden is on the state, units, and individuals. Incorporating social security funds into fiscal budget management will help the government coordinate the planning of social security undertakings and overcome confusion in fund management. At the same time, the fund is included in a special fiscal account and earmarked for special use, which is conducive to regularizing the revenue and expenditure, management and operation of funds and preventing the misappropriation, corruption or waste of funds.

Third, the social security fund management model is market-oriented and socialized. As the main body of fund management, the government no longer plays the role of implementing income redistribution policies. It only needs to formulate rules and regulations to ensure the normal operation of the management mechanism and effectively regulate and supervise market operations. Fund raising channels can also be diversified, such as reducing state-owned shares and issuing social security lotteries. Our country is already facing the pressure of an aging population, and the employment situation is also relatively severe. It is difficult to fill the fund gap by relying solely on the state, units, and individuals.

In terms of fund loss prevention, in order to more effectively block "black hole" phenomena such as false reports and false claims, mutual cooperation between various agencies must be increased. Our country has established labor and social security agencies in street communities in many cities. As the review body for pension eligibility, they can effectively supervise the distribution of funds. At the same time, we must also give full play to the advantages of the Internet, use electronic technology to establish a national social security fund management network, and communicate online with the civil affairs departments and public security departments to understand information in a timely manner and prevent false reports and false claims.