On April 23, the Ministry of Human Resources and Social Security held a press conference for the first quarter of 2024.
Photo by Wang Shuyan
Relevant people from the Ministry of Human Resources and Social Security said that in the next step, the Ministry of Human Resources and Social Security will continue to implement the national overall planning of basic pension insurance for enterprise employees to ensure that pensions are paid on time and in full. Study and improve the supporting policies of the personal pension system, and make relevant preparations before the comprehensive launch. Solidly carry out the consolidation and improvement of social security fund management. Promote the expansion of the scale of entrusted investment in the basic pension insurance fund for enterprise employees.
Highlights of the launch
• As of the end of March, the number of people insured by basic old-age, unemployment and work-related injury insurance nationwide was 1.07 billion, 240 million and 290 million respectively, an increase of 14.34 million, 4.49 million and 5.58 million year-on-year.
• From January to March, the total income of the three social insurance funds was 2.2 trillion yuan, the total expenditure was 1.8 trillion yuan, and the cumulative balance at the end of March was 8.6 trillion yuan. • There are 1.38 billion social security card holders nationwide, covering 98% of the population, of which 986 million have also received electronic social security cards. • As of the end of March, the entrusted investment scale of the national basic pension insurance fund was 1.9 trillion yuan.
The entrusted investment of the national basic pension insurance fund
Source: Ministry of Human Resources and Social Security
In 2023, the scale of pension entrustment contracts will reach 1.86 trillion yuan
Chen Feng, spokesman of the Ministry of Human Resources and Social Security, said that in the first quarter, the Ministry of Human Resources and Social Security steadily promoted the national overall planning of basic pension insurance for enterprise employees, and worked with relevant departments to formulate a national overall adjustment fund payment plan for 2024. The personal pension system was implemented smoothly, and a comprehensive assessment of the implementation was carried out. Steady progress has been made in the pilot project of occupational injury protection for employees in new forms of employment, and by the end of March, the cumulative number of insured persons had reached 8.017 million. The supervision and management of social security funds and investment operations have been continuously strengthened. As of the end of March, the entrusted investment scale of the national basic pension insurance fund was 1.9 trillion yuan.
On April 21, the design of the top-level system of personal pension was released for two years. According to data previously released by the Ministry of Human Resources and Social Security, by the end of 2023, more than 50 million people have opened personal pension accounts.
However, industry insiders have noticed that the implementation of the personal pension system has a situation of "hot account opening and cold deposit". Jin Weigang, vice president of the Chinese Social Security Association and president of the pension branch, introduced that statistics show that the number of people who actually store funds after opening an individual pension account is less than 1/3, and the per capita storage funds are only more than 2,000 yuan, which is a large gap with the upper limit of 12,000 yuan per person per year, and the total amount of actual stored funds is only about 20 billion yuan.
Talking about how to break the bottleneck of "hot account opening and cold deposit", some industry experts said that the current liquidity of personal pensions is poor, and it is necessary to establish an emergency expenditure mechanism to allow early withdrawal of funds under special circumstances, and clarify related matters and additional payment tax rates. At the same time, we will carry out differentiated system design, open the upper limit standards of different amounts for different insurance situations, and encourage low-income groups to actively participate. In addition, it is necessary to diversify the product range, expand the scope of investment, and provide more products that meet the preferences of different investors.
Employment got off to a good start and remained generally stable
Regarding the employment situation in 2023, Chen Yongjia, deputy director of the Employment Promotion Department of the Ministry of Human Resources and Social Security, said that since the beginning of this year, employment has achieved a good start and remained generally stable.
Among them, the main indicators of employment are running smoothly. From January to March, a total of 3.03 million new urban jobs were created, an increase of 60,000 year-on-year.
The demand for recruitment in the market is on the rise. During the Spring Breeze Campaign, more than 43 million jobs were posted across the country, an increase of 10% year-on-year.
Employment of key groups has improved. At the end of March, 30.49 million people were lifted out of poverty, higher than the target of 30 million. From January to March, 1.13 million unemployed people were re-employed, a relatively high level in the same period in recent years.
"As the economy continues to pick up, there are many favorable conditions for doing a good job in employment. At the same time, the pressure on total employment and structural contradictions are still prominent, and some workers still have many difficulties, and hard work is needed to stabilize employment. In the next step, we will conscientiously implement the deployment of the Central Economic Work Conference and the National People's Congress, go all out to stabilize employment, ensure employment, promote development, and strive to complete the annual employment goals and tasks. Chen Yongjia said.
The first is to focus on supporting the stabilization and expansion of posts. Continue to implement policies such as reducing unemployment and work-related injury insurance rates, implement and improve policies such as the return of stable jobs, special loans, and employment subsidies, strengthen support for the private economy, small and medium-sized enterprises and other business entities, and vigorously promote the "direct subsidy and quick processing", so as to fully release the effectiveness of job stabilization.
Second, efforts should be made to broaden employment channels. Implement the advanced manufacturing industry to promote employment, accelerate the cultivation of new employment growth points such as the digital economy and the silver economy, and create more high-quality employment opportunities. We will further implement the action of promoting entrepreneurship among key groups, carry out entrepreneurial resource docking activities, and prepare for the "China Chuangyi" entrepreneurship and innovation competition, so as to give full play to the multiplier effect of entrepreneurship driving employment.
The third is to focus on supporting key groups. Strengthen policies and measures to promote youth employment, implement a plan to recruit one million employment trainee positions, implement special assistance actions for young people with employment difficulties, and do everything possible to broaden employment channels. Strengthen employment support for migrant workers such as those lifted out of poverty, improve labor coordination mechanisms, and thoroughly implement actions to prevent people from returning to poverty and employment. Strengthen employment assistance for groups in difficulty, and ensure the bottom line of people's livelihood.
Source: China Securities Journal Editor: Zheng Junji Preliminary review: Zhang Yinxian Review: Lin Chaoqun Final review: Xiao Jiuhui Business cooperation, news clues, cracking down on fake news reports: 0598-2322923 Submission email: [email protected]
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