First, pension fund income exceeds expenditure, and the balance foundation is solid. According to the third quarter work progress announced by the Ministry of Human Resources and Social Security, the income and expenditure of the three social security funds were 5.25 trillion yuan and 4.89 trillion yuan respectively, indicating that the net income reached 3,600
billion, with a cumulative balance of 7.24 trillion yuan.
In addition, the National Social Security Fund has strategic reserves of more than 2.6 trillion yuan. The central level has transferred 1.68 trillion yuan of state-owned capital to enrich the social security fund. As of the end of September this year, the basic pension insurance fund entrustment contract size was 1.6 trillion yuan.
, the foundation for the scale of funds issued and adjusted is very solid.
Second, the basic pension is the first pillar of our country. By the third quarter of this year, the number of people insured by pension insurance in my country reached 1.047 billion. At the time of the seventh census, the total population was 1.41 billion. This means that the number of people insured by basic pension insurance now accounts for about 74.3%. The more people insured, the larger the payment scale, and the income from pension insurance will be greatly increased.
Third, there is a basis for 18 consecutive increases. From the psychology of us retirees, pensions have increased for 18 consecutive years. The earlier people retire, the more adjustments they will enjoy. If adjustments cannot be made continuously, we newly retired people will have to catch up.
People who do not want to retire early, especially those who retire this year, have worked for decades and paid so much insurance premiums. They have finally managed to get retirement benefits. If they do not participate in the increase, the gap between them and those who have retired is very big.
, is unacceptable to anyone.
Fourth, the Ministry of Human Resources and Social Security's "14th Five-Year Plan" requires the Ministry of Human Resources and Social Security to release the "14th Five-Year Plan" in 2021, in which the coverage rate of basic pension insurance should reach 95% by 2025, and young people should be encouraged to participate in the insurance.
Only if we continue to let them see the unlimited benefits in the future can we have the opportunity to encourage more people to continue to participate in insurance and pay premiums.
Fifth, the economic growth accelerated. In the third quarter of this year, my country's GDP growth increased significantly, reaching 3.9%. In the first quarter of 2022, GDP rose by 4.8%, and shrank to 0.4% in the second quarter. Now it is picking up again. In just three months, the increase expanded by 3.5%. It can be seen that our country's economy is already in a state of accelerated recovery. The economy is inseparable from the income of enterprises and employees. If income is good and employee wages are rising, from the perspective of fairness, it is natural to Increase money for retirees.
Sixth, rising prices. According to the latest data released by the National Bureau of Statistics, the consumer price index rose by 2.1% in October. Looking horizontally at the price changes in the first ten months, CPI is rising, with an increase of 2%, and income is linked to prices.
, with rising prices, it is necessary to ensure that the living standards of retirees are not reduced, and it is the general trend to increase pension levels.
This requirement is also stipulated in Article 18 of the Social Insurance Law.