First of all, let's talk about why there is a situation of social security and insufficient income. The reason is very simple, that is, the number of people paying social security has not increased, but the number of people receiving social security has greatly increased, and the time for receiving it has become longer and longer. In other words, social security still paid so much money, but more and more money was sent out. In the long run, how can social security not wear out? Of course, the fundamental reason for this phenomenon is that our living standards have improved, medical and health conditions are much better than in the past, and the average life expectancy of the general public has been prolonged.
The state has also noticed this situation, so it has formulated a plan to delay the retirement period in order to narrow the huge gap between the payment and payment of social security. In other words, let people who are working now pay social security for a few more years. This will save them a few years of social security after retirement. This addition and subtraction will be of great benefit to the balance of social security. Of course, some people may worry that if the effect of delaying retirement is not as good as expected, social security will not be paid in the future. In fact, the central government has long noticed this and allocated 10% of the shares of state-owned enterprises to the social security fund. Think about the four major banks, PetroChina, Sinopec and State Grid? This huge and profitable enterprise is the strong backing of social security.
Social security, called social insurance, is a redistribution system, and its goal is to ensure the reproduction of material and labor and social stability. Social security, which we often say, has another name, and "five insurances and one gold".
The fee reduction will not cause the risk of pension payment and will not affect the payment of pension. The pension "family" is solid. In terms of the total amount, the overall income of the national endowment insurance fund exceeds the expenditure, and the accumulated balance is increasing. From the structural point of view, after the implementation of the fee reduction policy in most provinces, the fund's income and expenditure situation is relatively stable, with good support ability, and there will be no "bottoming out".
Steadily and orderly promote national overall planning. On the basis of the overall completion of the basic old-age insurance at the provincial level, we will steadily and orderly promote national overall planning, improve the responsibility sharing mechanism of central and local old-age insurance, clarify the payment responsibility of financial old-age insurance at all levels, and continuously enhance the sustainability of the system.