In April this year, the Ministry of Human Resources and Social Security and the Ministry of Finance issued a notice to adjust the basic pension for retirees this year, with an adjustment level of 5%. Various localities generally adopt a combination of "quota adjustment, linkage adjustment, and appropriate tilt" to implement adjustments according to local conditions. Up to now, 31 provinces across the country have been implemented.
"Rating adjustment, hook adjustment, proper tilt"
Some provinces announced the increase in pension per capita. The average monthly increase of basic pensions for retirees from enterprises, government agencies and institutions in Qinghai Province was about 218 yuan; that in Yunnan Province increased by 167.7 yuan per capita. Chen Junxia, Director of the Endowment Insurance Division of the Qinghai Provincial Department of Human Resources Security:
"Appropriately increasing the basic pensions for retirees from enterprises, government agencies and institutions is of great significance to improving the lives of retirees, stimulating the growth of the disposable income of urban residents, promoting social equity and maintaining social stability."
It should be noted that 5% is an average increase, and it does not simply increase the pension of each retire by 5%. Regarding adjustment policies, a combination of "quota adjustment, linkage adjustment and appropriate tilt" is generally adopted in various regions. Among them, the quota adjustment reflects social justice; the linkage adjustment reflects the incentive mechanism of "pay more, pay more" and "pay more for long term", so that people who pay more and pay more when they are employed can receive more pensions. Du Zhifeng, Deputy Director, Employee Pension Insurance Division, Beijing Municipal Human Resources and Social Security Bureau:
"The quota adjustment reflects fairness, and all retirees are adjusted according to a uniform standard. The linkage adjustment is linked to the payment period and reflects an incentive. The elderly tilt is tilted toward the early retirement and older people. "
Social security fee reduction
Will not affect the payment of pensions on time and in full
The reduction and exemption of social insurance premiums this year is unprecedented. The relevant person in charge of the Ministry of Human Resources and Social Security predicts that the three social insurances for enterprise endowment, unemployment and work injury are expected to be reduced by 1.6 trillion yuan this year, of which the reduction of corporate pension insurance premiums will account for 15,000. 100 million yuan. Many people are therefore worried that, affected by the epidemic, can pensions be paid on time and in full?
In this regard, Nie Mingjun, director of the Department of Pension Insurance of the Ministry of Human Resources and Social Security, gave a "reassurance pill": the reduction or exemption of social insurance premiums will not affect the payment of pensions on time and in full. He revealed that as of the end of June, the national corporate pension insurance fund had a cumulative balance of 4.77 trillion yuan, and it is expected to maintain a balance of more than 3.8 trillion yuan by the end of the year. In addition, there is a national social security strategic reserve fund of more than 2 trillion yuan. Strong supporting ability.
At the same time, this year's pension insurance fund central adjustment ratio increased to 4%, the adjustment fund scale reached 740 billion yuan, and the inter-provincial adjustment was more than 170 billion yuan, which strongly supported the issuance of pensions in difficult provinces.
"We have fully prejudged the degree of difficulty in ensuring the issuance of various provinces, and will increase funding and support for provinces with difficulties in guarantee issuance. The adjustment fund for the first quarter was allocated in early April, and the adjustment fund for the second quarter in mid-June was also all The allocation has strongly supported difficult provinces to ensure the distribution. For individual provinces that are particularly stressed, the central government will also give special support on the basis of consolidating the main responsibility of the provincial government to guarantee distribution."
Standardize provincial overall planning and ensure long-term distribution
Nie Mingjun said that in terms of system construction, there are also fundamental system arrangements for ensuring long-term distribution.
Recently, the Ministry of Human Resources and Social Security, the Ministry of Finance, and the State Administration of Taxation issued a notice clarifying that each provincial government must earnestly assume the main responsibilities, accelerate the promotion of the three social insurance provincial-level coordination work, and ensure that the basic pension insurance fund for enterprise employees will be realized by the end of 2020. Unified revenue and expenditure at the provincial level.
Source: Voice of Economy