When my country implemented the reform of its corporate pension insurance system in 1991, four or five young people were still supporting one retired elderly person.

The "Statistical Bulletin on the Development of Human Resources and Social Security in 2020" shows that in 2020, the number of people participating in my country's basic employee pension insurance was 32,859, the number of retirees was 127.62 million, and the support ratio has dropped to 2.57:1.

Moreover, there are currently a large number of people participating in flexible employment insurance who are out of insurance, and it is estimated that the real payment-to-care ratio is only about 2:1.

However, my country's aging population will continue to increase.

According to figures from the 2020 National Statistical Yearbook, the number of young people under the age of 25 falls by 20 million to 50 million every five years compared with those over the age of 25.

According to the "14th Five-Year Plan for the Development of Human Resources and Social Security", it is estimated that at least 40 million elderly people will retire and receive employee pensions in the next five years, and the labor force population will decrease by 35 million.

Under this situation, people will have certain concerns about old age care.

Can the pension insurance fund continue to operate smoothly?

The correct answer is yes.

First, the state will promote delayed retirement.

The first people born in the 1980s and 1990s to be affected by the delayed retirement policy will definitely be those born in the 1980s and 1990s. After all, compared with the old people before, they have better living conditions and are better educated, so they will be relatively more able to accept delayed retirement.

Delaying retirement will reduce expenditures on pension insurance funds.

Second, the payment period has improved.

The state will also increase the minimum payment period for receiving pensions, which can ease the income of pension insurance funds.

Third, national guarantee.

The "Social Insurance Law" stipulates that when the pension insurance fund is insufficient in payment, the government finance will provide subsidies.

In recent years, pension insurance funds have received hundreds of billions or even trillions of yuan in state subsidies every year.

In 2018, the state transferred 10% of state-owned enterprise equity to social security fund management.

It will also bring hundreds of billions of equity returns to the social security fund every year.

The possibility of the state increasing the transfer ratio does not be ruled out.

In addition, the National Council for Social Security Fund has established more than 2 trillion social security fund risk rights and interests.

In fact, in addition to the pay-as-you-go model of pension insurance funds, the state will also establish a supplementary pension insurance mechanism such as annuity pensions, and encourage more companies and employees to participate in the establishment and improvement through tax and other preferential treatment.

In addition, the state will also standardize the third pillar of pension insurance and promote the development of personal pensions.

In the future, the entire society will accumulate more and more pension insurance, especially those born in the 1980s and 1990s will be more and more prepared.

Today's pension model can only guarantee the most basic treatment, so it is still necessary to give full consideration to "pension planning".