Pension fund is closely related to each of us. By the end of 2021, 1.03 billion people had participated in basic old-age insurance nationwide, of which 420 million had participated in basic old-age insurance for enterprise employees. On February 22, the Ministry of human resources and Social Security announced that the national overall planning of basic endowment insurance for enterprise employees will be launched from January. Why should we implement the national plan for endowment insurance? After the implementation of the system, what impact will it have on the pension of retirees? The implementation of national overall planning is conducive to solving the structural contradictions of the fund It is reported that the fund income of basic old-age insurance for enterprise employees consists of basic old-age insurance premiums paid by units and employees, interest income of basic old-age insurance fund, entrusted investment income, financial subsidies and other income. In 2021, the income of the basic endowment insurance fund for enterprise employees is about 4.4 trillion yuan, and the fund expenditure is about 4.1 trillion yuan. The fund operation is generally stable. "Preliminary statistics show that at present, the accumulated balance of enterprise employee pension insurance fund is 4.8 trillion yuan, the number of months that can be paid is more than 14 months, and the pension can be paid in full and on time." Yu Weiping, Vice Minister of finance, said. Then, why should we implement the national overall planning of enterprise employee pension insurance? By the end of 2020, all provinces in China have realized the provincial unified collection and expenditure of the basic endowment insurance fund for enterprise employees, which has solved the problem of uneven fund burden among regions in the province. However, due to the unbalanced development between regions, differences in economic development level and population age structure, the structural contradiction of endowment insurance funds among provinces has become increasingly prominent. Some provinces have large fund balances, but some provinces with a serious degree of population aging have great expenditure pressure on pension funds. "In this context, it is necessary to achieve national overall planning as soon as possible and adjust the use of funds nationwide." Qi Tao, deputy director of the old-age insurance Department of the Ministry of human resources and social security, said that after the implementation of the national overall planning system, the current balance and shortage of inter regional old-age insurance funds will be adjusted nationwide, which has solved the structural contradiction of the fund from the system, and the pension payment in difficult areas will be more guaranteed. At the same time, through the early work efforts, at present, there is a good foundation for the implementation of the national overall planning of old-age insurance. —— The central coordination system has been established. As the first step to achieve national overall planning, China launched and implemented the fund central adjustment system in 2018. From 2018 to 2021, during the four years since the implementation of the central adjustment system, a total of more than 600 billion yuan was transferred across provinces, of which the scale of inter provincial adjustment reached more than 210 billion yuan in 2021, which strongly supported the poor provinces to ensure the timely and full payment of pensions. —— The endowment insurance policies of all provinces have been gradually unified. At present, except for individual provinces, the payment proportion of pension insurance units in other provinces has been unified to 16%, laying the foundation for the implementation of national overall planning. —— A national unified public service platform for social insurance has been completed. The social insurance public service platform has been officially launched in 2019, providing social security inquiry, insurance registration, transfer and continuation, application for unemployment benefits and other services for insured personnel, making it easier and faster to handle social security business. "At present, relevant departments are paying close attention to studying and formulating supporting documents, calculating the scale of fund allocation, reasonably adjusting the surplus and shortage of funds between regions, strengthening the tracking and guidance of local implementation, timely adjusting and improving policies and measures, and doing good things with emotion." Yu Weiping said. After the implementation of national overall planning, we should still compact the expenditure responsibility of local governments After the implementation of the national overall planning system, some people worry that the central government's subsidy to endowment insurance will be reduced; There are also questions about whether local governments are no longer responsible for old-age insurance? Qi Tao made it clear that after the implementation of the national overall planning system, the expenditure responsibility sharing mechanism between the central and local governments will be established, and the subsidy of the central government to endowment insurance will not be reduced. Since the implementation of the unified old-age insurance system in 1998, the central government has continued to increase subsidies to the basic old-age insurance fund for enterprise employees, and the subsidy funds will exceed 600 billion yuan in 2021. "In the future, the central government's subsidy to endowment insurance will maintain stability and continuity." Qi Tao said. At the same time, we will continue to transfer state-owned capital to enrich the social security fund and further expand and strengthen the strategic reserve fund. So far, the central level has transferred 93 central enterprises and central financial institutions, with a total state-owned capital of 1.68 trillion yuan to enrich the social security fund. "On this basis, the expenditure responsibility of local governments will be clearer, and the responsibilities of governments at all levels will be further compacted." Qi Tao said. Moreover, in order to further expand the "reservoir" of endowment insurance funds, fund investment, operation and supervision have been carried out steadily. Recently, the Ministry of human resources and social security issued the measures for administrative supervision of social insurance funds, which will be implemented from March 18, 2022. The social security system provides strict supervision for all kinds of social security fund embezzlement and fraud. At the same time, the entrusted investment of the social security fund is progressing smoothly. By the end of 2021, the entrusted capital equity of the fund has reached 1.46 trillion yuan. The implementation of national overall planning does not mean that there are as many pensions in hand Perhaps many people will ask, does the national overall planning mean that everyone has the same amount of pensions? and be not so. Dong Keyong, a professor at the school of Social Sciences of Tsinghua University, introduced that the current basic old-age insurance adopts the combination of social pooling and personal accounts. The level of basic pension is related to the number of years of payment and the level of payment. It follows the principle of "paying more and paying more for a long time". Therefore, the pension available varies from person to person. The outline of the 14th five year plan clearly proposes to develop a multi-level and multi pillar old-age insurance system. In the future, there will be three sources of personal pension: basic pension insurance, also known as the first pillar of pension insurance; Enterprise annuity and occupational annuity, the second pillar of endowment insurance; Personal pension is the third pillar of endowment insurance. In recent years, China's annuity system has developed rapidly. By the end of the third quarter of 2021, the number of people participating in enterprise (occupational) annuity in China was 72.18 million, and the accumulated fund was 4.2 trillion yuan. Dong Keyong introduced that from 2007 to 2019, the average annualized rate of return of enterprise annuity fund reached 7.07%, and the role of the second pillar of endowment insurance is gradually emerging. "Next, on the one hand, we will vigorously develop enterprise (occupational) annuity, encourage and guide qualified employers to establish enterprise annuity, improve the coverage of enterprise annuity, and promote the market-oriented investment and operation of occupational annuity to be stable and standardized." The relevant person in charge of the endowment insurance Department of the Ministry of human resources and social security said. For the individual pension system, Lu Aihong, spokesman of the Ministry of human resources and social security, said that at present, the "opinions on promoting the development of individual pension" has been deliberated and adopted by the central comprehensive Deepening Reform Commission, and the Ministry of human resources and social security is working with relevant departments to formulate supporting policies to promote the implementation of the individual pension system. It is reported that the individual pension system will be based on the account system, individuals can participate voluntarily, the state finance will provide tax support, and the funds will be invested and operated in a market-oriented manner. "Bank financing, savings deposits, commercial endowment insurance and public funds can all be the investment scope of individual pensions to meet the diversified investment needs of the people." The relevant person in charge of the endowment insurance Department of the Ministry of human resources and social security said. (Xinhua News Agency)