2012 enterprise retiree pension adjustment

[Introduction] The two-track system of retirement has led to serious injustice in the pension system. After the retirement of civil servants, pensions should not be financed by the Treasury, and taxpayers should not be allowed to support retired civil servants. Based on the desire to eliminate inequality, the community has called for the abolition of the two-track system, but the reform has not made progress.

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Recently released by the World Social Security Center of the Chinese Academy of Social Sciences, the "2011 China Pension Development Report" pointed out that on the one hand, nearly half of the provinces' pensions are unable to cover their expenses, and on the other hand, the return on fund balances is much lower than the inflation rate, and that the country's pension system is facing serious challenges.

According to statistics from the Ministry of Human Resources and Social Security, in 2010, if the 195.4 billion yuan of financial subsidies are excluded, the current collection revenue of the basic pension insurance fund of the enterprise sector does not cover the expenses of the provinces (including the Xinjiang Construction Corps)**** there are 15 provinces, with a shortfall of as much as 67.9 billion yuan. And according to Zheng Bingwen, director of the World Social Security Research Center of the Academy of Social Sciences, the total rate of return of the National Social Security Fund from 2000 to 2008 may be less than 2%, lower than the inflation rate for the same period.

At present, the source of the fund for China's pension insurance is mainly premium income and its interest income and financial subsidies, and as far as the data from the Bureau of Statistics is concerned, China's social security is mainly used for old age, but the financial investment in social security is not enough. Social security in developed countries usually account for a high proportion of fiscal expenditure, such as in Sweden, Denmark and France and other countries, social security accounted for more than 42% of fiscal expenditure. On the contrary, China, the Ministry of Finance data show that last year's fiscal expenditure ***8.9 trillion yuan, social security and employment expenditures 913,062,000,000 yuan, accounting for only 10.2% of this has been included in the employment expenditures are still less than 1/4 of the proportion of social security expenditures of the countries mentioned above, it can be seen that our country's financial investment in social security is how low.

In stark contrast, China's fiscal revenues in recent years, year after year, the national fiscal revenues in the first 11 months of this year totaled 9.7309 trillion yuan, an increase of 26.8% compared with the same period last year, is the beginning of the year budgeted for an increase of 8% more than three times, the central and local will be overcollected. The people pay taxes is the main component of fiscal revenue, should be taken from the people to the people, in China's investment in social security year after year insufficient while the fiscal revenue has been overcollected year after year, it is reasonable to increase the financial investment in social security, will be overcollected part of a large proportion of the allocation to social security.

It is true that the financial investment in social security, such as pensions, needs to be increased, but the increase in financial investment can not completely solve the predicament of the pension system. To solve the problem of pension income does not cover expenditure, the rate of return is much lower than the rate of inflation, it is necessary to expand the source of pension funds and improve the value of the pension value-added capacity. In this regard, recently the new chairman of the Securities and Futures Commission, Guo Shuqing, will be dispersed in the provinces of 2 trillion yuan of pension insurance funds and 3.9 trillion yuan of housing provident fund organization, the establishment of specialized investment institutions to invest in the capital market.

The idea of pension funds entering the market to speculate in the stock market, although supported by Dai Xianglong, chairman of the National Council for Social Security Fund (NCSSF), has triggered widespread controversy and concern. Pension funds are the life-supporting money that can never afford to be lost and have extremely high security requirements, but the stock market is high-risk and high-return, and no one can guarantee that it will only make money and not lose it. It is true that in the famous pension plan 401K in the United States, there is the case of buying stocks with the pension, but each individual has the right to choose, can choose to buy stocks and bonds, or can choose the relative safety of the special fixed deposits. If the president of Guo said that the whole pension package into the market, equal to the individual does not have the right to choose, all the local pension "was" speculation, and the nature of the 401K pension plan is obviously not the same.

How to make the pension is still controversial, and indisputable is that the dilemma of China's pension system is not only to make the pension bigger, but also lies in the unfairness of the pension system. China has long existed in the retirement dual-track system, that is, institutional personnel retirement and enterprise personnel retirement, the implementation of two very different systems. Enterprise personnel is the unit and the employee himself, respectively, according to the standard of 20% and 8% of the standard contribution, and by the self-financing account on the payment; while the organs and institutions by the financial unified financing, unified payment. The biggest difference is that there is a huge difference between the two standards, and the pensions of the organizations are much higher than those of the enterprise retirees, and the per capita income of the enterprise retirees is only 1,400 yuan, which is 3-5 times higher than that of the retirees of the organizations. The same retirement home, why the civil servants can be unified by the financial allocation of a high pension, while the enterprise retirees can only enjoy the retirement of their own contributions to the pension insurance and the standard is much lower than the civil servants