Notice on Issues Concerning the Implementation of Provincial Coordination of Basic Pension Insurance for Enterprise Employees and the Transfer of Industry Coordination to Local Management, Guofa [1998] No. 28. The people's governments of provinces, autonomous regions, and municipalities directly under the Central Government, all ministries and commissions of the State Council, and all agencies directly under the State Council: In order to deepen the pension insurance system for enterprise employees

Reform, strengthen the management and adjustment of basic pension insurance funds, and ensure that basic pensions for enterprise retirees are paid in full and on time. The State Council decided to accelerate the implementation of provincial-level coordination of basic pension insurance for enterprise employees, and integrate the Ministry of Railways, the Ministry of Transport, and the Information Industry

Ministry of Water Resources (part of the former Ministry of Posts and Telecommunications), Ministry of Water Resources, Civil Aviation Administration of China, Coal Bureau (formerly Ministry of Coal), Nonferrous Metals Bureau (formerly China Nonferrous Metals Industry Corporation), State Electric Power Corporation (formerly Ministry of Electric Power), China National Petroleum Corporation and

The overall transfer of the basic pension insurance industry organized by China Petrochemical Corporation (part of the former National Petroleum Corporation), the banking system (Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank, Bank of Communications, China Insurance Group), and China State Construction Engineering Corporation

Local management.

The relevant issues are hereby notified as follows: 1. Accelerate the implementation of provincial-level coordination of basic pension insurance for enterprise employees (1) Before the end of 1998, all provinces, autonomous regions, and municipalities directly under the Central Government (hereinafter referred to as provinces, districts, and cities) must implement provincial-level coordination of basic pension insurance for enterprise employees.

(hereinafter referred to as provincial coordination), establish a provincial adjustment mechanism for basic pension insurance funds, and the proportion of adjustment funds is based on the principle of ensuring that the basic pensions of enterprise retirees within the province, district, and city are paid in full and on time.

By 2000, within provinces, districts and cities, it is necessary to basically unify the proportion of basic pension insurance premiums paid by enterprises, unified management and dispatch of basic pension insurance funds, and implement provincial-level vertical management of social insurance agencies.

(2) The scope of provincial-level coordination includes state-owned enterprises, collective enterprises, foreign-invested enterprises, private enterprises and other urban and rural enterprises in provinces, districts and cities (including cities under separate state planning, sub-provincial capital cities, special economic zones, development zones, etc.)

enterprises and their employees.

Urban individual economic organizations and their employees should also participate in basic pension insurance and be included in provincial coordination.

(3) Starting from September 1, 1998, areas that currently implement basic pension insurance fund balance payment will change the fund settlement method, and levy basic pension insurance premiums in full on enterprises and individual employees, and fully levy basic pension insurance premiums on enterprise retirees.

Basic pension is paid.

All provinces, autonomous regions and municipalities must actively create conditions to accelerate the socialization of basic pensions for enterprise retirees and promote the process of socialized management.

2. Complete the transfer of basic pension insurance industry coordination and transfer to local management on schedule (4) Before August 31, 1998, the basic pension insurance work of enterprises that implement basic pension insurance industry coordination (hereinafter referred to as industry coordination) shall be based on the principle of transfer first and then adjustment

, all transferred to provincial, district and municipal management.

Starting from September 1, 1998, provincial, district, and municipal social insurance agencies are responsible for collecting basic pension insurance premiums for industry-coordinated enterprises and issuing basic pensions for retirees.

If it crosses provinces, districts, and cities, the territories will be divided according to the registration place of the unit or its branch, and its basic pension insurance work will be transferred to the social insurance agency management of the province, district, and city where it is located.

The industry coordination is temporarily retained in the provincial social insurance agencies of each province, district, and city, and will be studied after the reform of local government agencies.

(5) After the overall transfer of the industry to local management, the proportion of basic pension insurance premiums paid by enterprises and individual employees will remain unchanged in 1998.

Starting from 1999, the proportion of basic pension insurance premiums paid by enterprises will be adjusted, starting from no less than 13% of the company's total wages, and then gradually transitioning to the same proportion as local enterprises.

According to the specific conditions of the industry, the transition period for coal, banking, and civil aviation enterprises is 5 years, and the transition period for enterprises in other industries is in principle 3 years.

Starting from January 1, 1999, the proportion of basic pension insurance premiums paid by individual employees shall be implemented in accordance with the unified proportion determined by the province, district, and city, and shall be paid in one go.

Starting from January 1, 1998, individual accounts for employee basic pension insurance will be adjusted or established based on the amount of 11% of the individual's paid wages, and the personal account deposits before and after the transfer will be calculated together.

(6) After the industry coordination is transferred to local management, the original basic pension insurance benefits of the retired personnel of the original industry coordination enterprise will remain unchanged in principle. Among them, some of the coordination projects approved by the former Ministry of Labor and Ministry of Finance will be coordinated by the provincial level.

The basic pension insurance fund is paid, and the part not included in the overall planning items is paid by the enterprise.

For those who retire after the industry overall planning is transferred to local management, the basic pension insurance benefits shall be implemented in accordance with the provincial, district, and municipal methods. For the part calculated according to the original industry overall planning method that is higher than that calculated according to the local calculation and payment method, the basic pension insurance benefits may be calculated by each province, district, or city

The solution is to use additional subsidies. The required expenses will be paid from the basic pension insurance fund coordinated at the provincial level. The subsidy standards will be adjusted year by year. The calculation and payment methods of the province, district and city will be implemented after 5 years.

(7) The basic pension insurance funds accumulated through industry coordination shall all be transferred to provincial, district, and municipal social insurance agencies for management. If there are social insurance agencies below the provincial, district, and city level, they will be transferred to local management together with the industry coordination.

Transfer to local governments; if there is a central department, it is mainly used to solve the problem of regional imbalance in the transfer process.