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Recently, the China Pension Development Report (20 1 1) issued by the World Social Security Center of China Academy of Social Sciences pointed out that on the one hand, nearly half of the provinces have insufficient pension income, on the other hand, the rate of return on fund balance is far below the inflation rate, and China's pension system is facing severe challenges.
According to the statistics of Ministry of Human Resources and Social Security, in 20 10, if the financial subsidy195.4 billion yuan is excluded, there will be 15 provinces (including Xinjiang Construction Corps) with insufficient income from the collection of basic endowment insurance funds of enterprise departments, with a gap of 67.9 billion yuan. According to Zheng Bingwen, director of the World Social Security Research Center of the Chinese Academy of Social Sciences, the total rate of return of the national social security fund from 2000 to 2008 may be less than 2%, which is lower than the inflation rate in the same period.
At present, the sources of endowment insurance in China are mainly premium income, interest income and financial subsidies. Statistics show that China's social security is mainly used for providing for the aged, but the financial investment in social security is not enough. In the financial expenditure of developed countries, social security usually accounts for a fairly high proportion. For example, in Sweden, Denmark and France, social security accounts for more than 42% of fiscal expenditure. On the other hand, according to the data of the Ministry of Finance, the fiscal expenditure last year was ***8.9 trillion yuan, and the social security and employment expenditure was 913.062 billion yuan, accounting for only 10.2%. The employment expenditure included in this is less than 1/4 of the above-mentioned national social security expenditure, which shows how low China's financial investment in social security is.
In sharp contrast, in recent years, China's fiscal revenue has exceeded every year. Before this year 1 1 month, the national fiscal revenue totaled 9,730.9 billion yuan, up 26.8% year-on-year, more than three times the 8% increase in the budget at the beginning of the year, and both the central and local governments will exceed the revenue. Taxes paid by ordinary people are the main part of fiscal revenue and should be taken from and used by the people. It is reasonable to increase the financial investment in social security and allocate a large proportion of the surplus to social security under the circumstances that the investment in social security in China is insufficient year after year and the fiscal revenue exceeds the income.
It is true that the financial input of social security such as pension needs to be increased, but the increase of financial input can not completely solve the dilemma of the old-age insurance system. To solve the problem that the pension income is not enough and the rate of return is much lower than the inflation rate, it is necessary to expand the sources of pension funds and improve the ability of maintaining and increasing the value of pension funds. In this regard, Guo Shuqing, the new chairman of the China Securities Regulatory Commission, recently proposed to organize 2 trillion yuan of old-age insurance and 3.9 trillion yuan of housing provident fund scattered in various provinces to set up special investment institutions to invest in the capital market.
Although the statement that pensions are traded in the stock market is supported by Dai Xianglong, chairman of the National Social Security Fund Council, it has aroused widespread controversy and concern. Pension is a life-saving money that you can't afford to lose, and the security requirements are extremely high. However, the stock market is high-risk and high-return, and no one can guarantee that you will only make a loss. In the famous American pension plan 40 1K, there are indeed cases of buying stocks with pension, but everyone has the right to choose to buy stocks and bonds or choose a relatively safe special deposits. If the whole pension is packaged into the market according to what President Guo said, it means that individuals have no right to choose, and all local pensions are "traded", which is obviously different from the nature of the 40 1K pension plan.
How to expand the pension is still controversial, and the indisputable fact is that the dilemma of China's pension system lies not only in expanding the pension, but also in the unfairness of the pension system. China has long implemented a dual-track retirement system, that is, the retirement of employees in institutions and enterprises, and two completely different systems are implemented. Enterprise personnel are paid by the unit and the employees themselves according to the standards of 20% and 8% respectively, and paid by the self-raised account; Government agencies and units are allocated and paid by the government. The biggest difference is that the two standards are very different. The pension of government institutions is much higher than that of enterprise retirees, and the per capita income of enterprise retirees is only 1.400 yuan, which is 3-5 times different from that of government institutions. Also retired at home, why can civil servants receive high pensions from the government, while retirees can only enjoy the old-age insurance they paid before retirement, and the standard is far lower than that of civil servants?