What is the concept of transferring state-owned assets to social security? Can we solve the shortage of social security fund?

65438+1October 12, the Ministry of Finance announced that the transfer of some state-owned capital at the central level to enrich the social security fund was fully completed.

By the end of 2020, the transfer of qualified central enterprises and central financial institutions will be fully completed, and the total transfer of state-owned capital by 93 central enterprises and central financial institutions will reach 1.68 trillion yuan.

If you don't understand this matter, there may be no intuitive concept when you see this news.

First, why should we transfer state-owned assets to enrich social security? The work of transferring state-owned assets to social security actually started from 20 18, and all the enterprises involved were state-owned enterprises such as state-owned enterprises. It is required to transfer social security according to the equity ratio of the group parent company 10%.

According to the overall arrangement of the central government, the transfer of state-owned assets to social security is promoted in three batches.

The first batch of network transfer started from 2065438+March 2008, and was led by China Unicom, China Nonferrous Metals and China Agricultural Development Corporation.

The second batch of transfer boards started from 20 18 1 1, including China Huaneng and others 15 enterprises.

The third batch of transfer starts from July 2065438+2009 and will be completed by the end of 2020.

Three batches of state-owned assets have been transferred to social security.

Then, what is the concept of transferring 654.38+68 million in three batches?

The existing assets of central enterprises and state-owned enterprises exceed 6 billion yuan and will be transferred according to the equity ratio of 10%. It is estimated that the transferred state-owned assets will exceed 6 trillion yuan.

Therefore, there is still a big gap between 65.438+68 billion and expectations.

After the transfer of state-owned assets at the central level is completed, the capital transfer of local state-owned enterprises will continue in the past two years.

The reason why the state regards the capital enrichment of state-owned enterprises as a financial regulation tool is mainly because the operation of social security funds is facing severe challenges.

Since 20 14, China's social security fund has been in deficit for six consecutive years.

The gap of social security fund is widening day by day.

Of course, there is no major problem in the operation of China Social Security Fund for the time being. At present, the accumulated balance at the end of the year is still 9402.697 billion yuan.

However, for six consecutive years, the situation that expenditure exceeds income and the gap tends to widen has attracted the attention of high-level officials.

Since 20 1 1, the proportion of state financial subsidies to social security funds has greatly increased, and it has reached nearly a quarter at present.

The proportion of financial subsidies for social security funds has expanded.

At the same time, the pension payment in China is still rising every year, with a continuous increase last year 16.

These behaviors will further aggravate the imbalance between income and expenditure.

If you don't take any measures and only rely on the accumulated balance of the social security fund to maintain it, you will sit in an empty seat one day.

Relying on financial subsidies all the time is not a long-term solution.

Of course, the special work of transferring state-owned assets to social security can alleviate the operating pressure of social security funds in a short time, but it cannot fundamentally solve the problem.

With the continuous decline of fertility rate and the deepening of aging, more long-term policy tools are needed to support it.

Second, the three long-term policies to change the dilemma of social security funds are nothing more than "opening up sources" and "reducing expenditures" to change the operational dilemma of social security funds.

"Open source" means increasing the number of people paying social security, and "throttling" means delaying social security expenditure.

Therefore, the second child policy, the "three pillars" system of delaying retirement and providing for the aged will become three long-term policies to change the plight of the social security fund, and these policies have been implemented or will be implemented soon.

1, second child policy

According to the data of the National Bureau of Statistics, the population born in China in 20 1465 is 10.48‰. The fertility rate fell below the warning value, the lowest since 2000!

Changes of Birth Rate in China in Recent Ten Years

In recent years, the problem of declining birth rate has not been exposed. Since 20 15, 10, China has fully liberalized the second child policy, and some border cities have implemented the third child policy.

However, after the implementation of the second child policy, the birth rate will only rise in the second year. From 20 17, the birth rate dropped again, reaching 20 19, the lowest in 20 years.

Therefore, the second child policy has not shown obvious effect, but it will definitely become a long-term national policy.

2. Delayed retirement

Last June, 1 1, the "Tenth Five-Year Plan" and the long-term goal proposal for 2035 were released, which explicitly mentioned "gradually delaying the legal retirement age".

In order to cope with the pressure of aging population, relevant experts have been calling for delaying retirement. This time written into the "14 th Five-Year Plan", delayed retirement is really coming!

Delayed retirement is mentioned in the 14 th Five-Year Plan proposal.

The aging process in China has entered a period of rapid growth. Statistics from the National Bureau of Statistics show that in 20 19, the population aged 65 and over in China reached1760,000, accounting for 12.6%, making it the country with the largest elderly population in the world.

According to the United Nations forecast, around 2030, the population aged 65 and above in China will account for more than 25% of the global elderly population.

In China, the retirement age has always been 60 for men and 50 for women (55 for female cadres).

Compared with other aging countries in the world, China has the lowest retirement age. Japan's retirement age is after 65, and the retirement age in the United States is between 62 and 70.

Retirement age means less time to pay social security and longer time to receive pension, which will bring great pressure to social security fund under the aging social structure.

Therefore, although delaying retirement has caused a lot of controversy, it is also a step that the country has decided to take.

3. The third pillar of providing for the aged

In recent years, the state has been advocating the "three pillars" social old-age security system, namely basic pension, enterprise annuity/occupational annuity and personal pension.

The first pillar is basic old-age insurance. As an important part of China's social security system, the coverage rate of China has exceeded 90%.

The second pillar is enterprise annuity/occupational annuity, which is called occupational annuity for government institutions and state-owned enterprises, and enterprise annuity for private enterprises. At present, the participation of the second pillar is voluntary.

The third pillar is personal commercial endowment insurance. In recent years, the state has issued a large number of policies to support the pension industry.

In recent years, the state's policy of supporting the old-age industry

At present, the development of the "three pillars" system of endowment insurance in China is extremely unbalanced.

After 12 years of market-oriented operation, the second pillar annuity is still dominated by institutions, institutions and state-owned enterprises, and the willingness of private enterprises to participate is very low.

After the 20 18 pilot of the third pillar tax-deferred commercial endowment insurance, the scope of the pilot is still limited to Shanghai, Fujian Province (including Xiamen) and Suzhou Industrial Park, with low tax extension and little effect.

Cut? At the end of 20 19, what is the basic old-age insurance base in China? The accumulated balance is 6.29 trillion yuan; Enterprise year? Accumulate the foundation? The total scale is 1.80 trillion yuan; The third pillar has just started, and its scale is not large.

The asset scale of the "three pillars" of China's pension is not only regulated by policy tools such as having a second child and delaying retirement, but also the fundamental way to ensure the stable operation of social security funds is to let the people actively participate.

In 20 19, the total pension assets in China accounted for about 12.27% of GDP. The proportion of pension assets in the top 22 countries or regions in the world has reached 67%.

Therefore, there is a big gap between China's pension assets ratio and the international advanced level, but it also has great potential.

The balanced development of the "three pillars" system will be the highlight of China in the next five years.