How did China's social security empty account come into being?

Empty accounts are not as absolute as those on the first floor.

Although the personal account has been implemented in China's social security system, the actual operation effect shows that it is indeed an empty account operation, and it cannot be explained clearly by one or two questions. Tracing back to the source, its root is related to the imperfection of the early pension system and social security system. There is still a deficit in personal accounts, and the state takes the lead every year. That's the truth.

As for the Shanghai social security case mentioned on the first floor, one of the main phenomena reflected is that the social security fund gap in remote areas such as Northeast China is very large and there is a bottomless pit; In the south, especially in the economically developed coastal areas, social security is tens of millions or hundreds of millions every year, and all this money is left in the local area to make the abbot rich and study temples.

If social security is co-ordinated across the country like the national tax, it would be nice to hand over all the rest of the money to the central government.

The main reasons for the formation of supplementary empty accounts:

In the past, the state did not establish an old-age insurance system. Although it has been implemented for several years, the accumulation has not yet formed, mainly for new people to provide for the elderly. The proportion of newcomers participating in insurance is not directly proportional to the retirement ratio, payment and retirement salary of the elderly. The country has been in a state of investment and reinvestment, and the money of newcomers has no balance. How can we start with personal accounts?