On the 4th, the Beijing Municipal Human Resources and Social Security Bureau released the "2018 Beijing Social Insurance Development Report".

The report pointed out that in 2018, the city’s social insurance benefits were paid in full and on time, and the fund operated smoothly.

At the same time, the central adjustment system for pension insurance funds has been implemented. In 2018, the city’s pension insurance fund released 19.7 billion yuan, and the central government allocated 6.56 billion yuan, becoming a “contributing province” to the pension insurance fund.

According to the report, the fund income of Beijing Employee Basic Pension Insurance in 2018 was 261.95 billion yuan, an increase of 39.66 billion yuan or 17.8% over the previous year; the fund expenditure was 171.62 billion yuan, an increase of 32.18 billion yuan or 23.1% over the previous year;

The balance of the fund for the year was 90.33 billion yuan.

At the same time, 34,000 employees’ basic pension insurance for enterprise employees were transferred across provinces to Beijing and 81,000 were transferred out of Beijing throughout the year.

Among them, the transfer and connection business between Beijing, Tianjin and Hebei accounts for 20% of the total business.

From the data transferred in and out, we can see the effect of decentralization.

At the same time, the central adjustment system for pension insurance funds has been actively implemented. As approved by the Ministry of Human Resources and Social Security and the Ministry of Finance, in 2018, Beijing’s pension insurance fund disbursed 19.7 billion yuan, and the central government allocated 6.56 billion yuan.

Become a “contributing province” to the pension insurance fund.