In the future, The continuous aging of our country will bring great challenges to China's pension insurance system. From 1962 to 1975, the number of births in China exceeded 20 million for more than 10 consecutive years. Since 1997, the number of births in China has been below 20 million, and last year it was only 12 million. It is indeed worrying about how our pension insurance system will develop in the future.
However, recently, the Ministry of Human Resources and Social Security has brought you the news of three changes in the pension insurance system. What exactly is it? Have we benefited?
<h1 class= "pgc-h-arrow-right" > first, the growth of pensions. </h1>
Since the beginning of this year, China has not only achieved the seventeenth consecutive increase in the pension of retirees with basic old-age insurance for employees, but also the basic pension received by urban and rural residents in 16 provinces, municipalities and autonomous regions.
The basic pension treatment of urban and rural residents' pension insurance mainly comes from the financial subsidies of the central and local governments. At present, the minimum standard of pension insurance for urban and rural residents nationwide is 93 yuan per month. The highest area in the country is Shanghai, which rose from 1,100 yuan per person per month to 1,200 yuan from January 1, and the second is Beijing, which reached 850 yuan. In Shandong Province, the basic pension was raised from 142 yuan to 150 yuan from July 1. Zhejiang Province was raised from 165 yuan to 180 yuan from August 1.
Article 18 of the Social Insurance Law clearly stipulates that the pension level of retirees should be adjusted in a timely manner according to the wage growth and price growth of employees. This year's adjusted pension for retirees began to be adjusted from January 1 and was adjusted before July 1. This year, China's economic development situation is still good, and it is also very normal to achieve 18 consecutive increases in retirees' pensions next year. In general, there will be exact news in March next year.
<h1 class="pgc-h-arrow-right" > second, the entrusted investment of pension insurance funds has achieved obvious results. </h1>
At the end of 2020, the cumulative balance of the basic pension insurance fund for employees in China was 4,831.7 billion yuan. These balances are distributed in 31 provinces and centrally administered pension funds.
Due to the investment restrictions of pension funds, pension insurance funds in many places have not been effectively managed for safety, and the yield is relatively low.
To this end, the Ministry of Human Resources and Social Security and the Ministry of Finance have promoted the entrusted investment management of the basic pension insurance for employees, and the amount of contracts that have been signed so far has reached 1.25 trillion yuan, and the amount of accounts has reached 1.1 trillion yuan, and the main body of management is the National Social Insurance Fund Council.
According to the "Fund Entrustment Report" released by the National Social Security Fund Council in 2020, the equity investment income of the basic pension insurance fund entrusted last year was 113.577 billion yuan, and the investment yield was 10.95%. This is several times higher than the yield of deposit banks in the past.
The increase in the investment income of the pension insurance fund actually increases the carrying capacity of the pension insurance system, which helps to alleviate the pressure of delaying retirement.
<h1 class= "pgc-h-arrow-right" > third, the personal pension system is coming, and the way to accumulate pensions will be richer. </h1>
At the 2021 Financial Street Forum Annual Meeting, the relevant leaders of the Ministry of Human Resources and Social Security clearly pointed out that China will adopt the method of personal account to develop a personal pension system.
The personal account system may not be unfamiliar to many people, which is personal property. After the death of the insured, the insured can be inherited by the heirs, including the personal account of pension insurance, occupational annuity and enterprise annuity, all of which are the same.
The personal pension system should be similar to the IRA (Personal Pension Account System) in the United States, generally including tax delays and tax exemptions, but there is a ceiling. It is generally more cost-effective for groups that pay personal income tax.
Personal pension, they will also have more initiative, according to the individual's risk appetite and age, choose bank deposits, bank wealth management, commercial pension insurance, public funds and other various financial products.
The individual pension system is an effective supplement to our modern pension insurance system and provides a way for groups with higher pension needs.
On the whole, our pension insurance system is indeed constantly developing and improving, and our pension will become higher and higher in the future, and the protection for the retired elderly will become stronger and stronger.
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