Ministry of Human Resources and Social Security: The balance of the national enterprise pension insurance fund is more than 5 trillion yuan
China News Service, Beijing, April 21 (Reporter Liang Xiaohui) Nie Mingjun, director of the Department of Pension Insurance of the Ministry of Human Resources and Social Security of China, said in Beijing on the 21st that the national enterprise pension insurance fund balance exceeded 5 trillion yuan (RMB, the same below) No issue of guarantee. By the end of the year, all provinces in China will realize unified fund collection and expenditure.
On the same day, the Ministry of Human Resources and Social Affairs held a press conference for the first quarter of 2020. Nie Mingjun said that pension insurance has a relatively solid material foundation, and the main problem is that structural contradictions between provinces are more prominent. In order to ensure distribution, the Ministry of Human Resources and Social Security took the following measures:
One is to organize the implementation of the fund central transfer system. In March, the Ministry of Human Resources and Social Affairs, together with the Ministry of Finance, issued the central transfer prepayment plan for the enterprise basic pension insurance fund for 2020. In early April, the transfer funds for the first quarter were fully allocated. During the implementation process, we also coordinated to release part of the funds in advance, and specifically increased the central government's allocation to Hubei Province in the first quarter.
The second is to regularly schedule the capital arrangements of the provinces, and conduct a detailed investigation of the annual fund preparations to help coordinate fund scheduling issues.
The third is to guide the provinces to speed up the provincial-level co-ordination work, solve the problem of unbalanced funds within the province, and better ensure the distribution of pensions throughout the province. Up to now, 20 provinces across the country have implemented provincial-level fund collection and expenditure. By the end of the year, all provinces will realize unified fund collection and expenditure, which not only further enhances the guarantee function of the province's fund insurance issuance, but also lays a better foundation for the realization of national pension insurance overall planning. (Finish)