On February 26th, Yu Jun, Vice Minister of Ministry of Human Resources and Social Security, said at the press conference on February 26th that in 20 17, the income of enterprise pension insurance fund was 3.27 trillion, the expenditure was 2.86 trillion, the current balance was 4 187 billion, and the accumulated balance was 4 12 trillion, so as to ensure that the accumulated balance could be paid for 17.3 months. However, with the acceleration of population aging, it does bring great challenges to the sustainable development of our entire insurance system.
In accordance with the decision-making arrangements of the CPC Central Committee and the State Council, in recent years, Ministry of Human Resources and Social Security has implemented the national insurance registration plan, conducted fund investment and operation, and started to allocate state-owned assets to enrich the social security fund and the national social security strategic reserve fund, laying a solid foundation for the sustainable development of the social insurance system. At the same time, governments at all levels have also increased their investment in social insurance. In 20 16, the expenditure on social insurance at all levels reached 1 trillion, including employee pension insurance, urban and rural residents' pension insurance and urban and rural residents' medical insurance, but it only accounted for 5.72% of the fiscal expenditure in the same period, an increase of 1.38 percentage points over the previous year. It should be said that compared with other countries, especially developed countries, the proportion is not high, so the relative burden is not heavy. It is understood that, like the United States, Germany and Japan, the financial social security expenditure accounts for more than 20%, and there is still potential and space.