With the aging of the Chinese population, the pension system has become an important measure to ensure the well-being of the elderly. **Committed to ensuring that older people live a happy life through the introduction of welfare measures. The income and expenditure of the basic old-age insurance for urban workers are in good condition, and the balance is abundant. However, the pension gap still exists and needs to be solved urgently.
The current state of China's pension system
**Introduce welfare measures to ensure the well-being of the elderly
* Actively promote the pension insurance system and provide social security for the elderly. Efforts have been made to ensure that the elderly enjoy basic living security and medical treatment through the raising of pension standards and the issuance of temporary subsidies. For example, in 2019, the average basic pension level in China was 541 yuan per month, compared to 352 yuan in 2015, an increase of about 50%.
Income and expenditure and balance of basic pension insurance for urban employees
The basic pension insurance for urban workers is balanced, and there is even a surplus. By the end of 2022, the cumulative balance of the basic pension insurance for urban employees nationwide has reached 62 trillion yuan (about 970 billion U.S. dollars). **Through the establishment of pension investment and operation institutions, the effective management and use of funds are realized, and a reliable guarantee is provided for the future pension distribution.
The pension gap problem
Although the pension system has achieved certain results, it is facing the problem of pension gap. According to a report released by the World Social Security Research Center of the Chinese Academy of Social Sciences, it is expected that by 2050, China's pension gap will reach -1673 trillion yuan. This huge gap poses a serious challenge to the sustainable development of the pension system.
The Challenge
Negative population growth and ageing
China is gradually entering a stage of negative population growth and aging, with a declining labor force and an increasing elderly population. According to the National Bureau of Statistics, as of 2020, China's elderly population aged 65 and above has reached 25.8 billion people, or 18 percent of the total population1%。This will put heavy pressure on the pension system, and how to balance the supply and demand of pensions has become an urgent problem to be solved.
Pressure on the pension system from a declining labor force population
With economic development and demographic changes, the decline in the labor force will put pressure on the pension system. According to the National Bureau of Statistics, the proportion of China's working-age population aged 15-59 in the total population increased from 74 in 20164% dropped to 70 in 20207%。The lack of sufficient contributors will lead to difficulties in the payment of pensions, which may affect the welfare of the elderly.
The pension gap problem
The pension gap in 2050 is expected to reach huge liabilities, posing a threat to the sustainable development of the pension system. ** Reforms need to be stepped up to address the pension gap to ensure the stability and sustainability of pension payments.
Policies to prevent pension abuse
Four types of people who receive pensions in violation of regulations are investigated
**Measures should be taken to investigate four categories of people who receive pensions in violation of regulations, including the elderly who have been missing for more than half a year, retirees who have passed away, retirees who have repeatedly participated in insurance, and the elderly who are serving prison sentences. According to the statistics of the public security department, from 2019 to 2021, the number of people who successfully found illegal pensions nationwide reached 3740,000 people, the amount involved is nearly 900 million yuan.
An elderly man who has been missing for more than half a year
For the elderly who have been missing for more than half a year, technical means, such as facial recognition, can be adopted to strengthen the search for work, ensure that pensions are paid in place, and prevent the occurrence of abuse. For example, Guangdong Province has effectively improved the efficiency of searching for the elderly after they go missing by establishing an information sharing platform for the missing elderly.
Retirees who have passed away
Through data sharing with public security and other departments, we can grasp the life and death of retirees in a timely manner, stop paying pensions to deceased retirees in a timely manner, and reduce the waste of resources. For example, Jiangsu Province has established an information sharing mechanism between pension and civil affairs departments to realize the timely docking of pension payment and life and death information.
Retirees who are repeatedly enrolled
Strengthen system management, establish a sound information sharing platform, avoid retirees to participate in insurance repeatedly, and ensure the reasonable distribution of pensions. For example, Beijing has established an interconnection mechanism between personal accounts of pension insurance and household registration, social security and other data, which has effectively avoided the problem of repeated insurance participation of retirees in different regions.
Elderly people serving their sentences
For the elderly who are serving their sentences, they can suspend the payment of their pensions until they have completed their sentences, so as to maintain the fairness of the pension system. For example, the Guangxi Zhuang Autonomous Region has established an information-sharing mechanism with the prison system to ensure that pension payments for the elderly are controlled in a timely manner while serving their sentences.
Conclusion
The pension system needs to be improved
In the face of negative population growth and aging, China's pension system needs to be further improved to meet future challenges. ** Reform efforts should be intensified, the proportion of pension contributions should be increased, and diversified pension investment operations should be explored. At the same time, attention should be paid to improving the level of pension treatment for the elderly to adapt to the cost of living.
Fill the loopholes to better protect everyone's life after retirement
* Supervision should be strengthened to fix the loopholes in the pension system and ensure the fairness and transparency of pension payments. At the same time, individuals are encouraged to make supplementary pension reserves before retirement, so as to better protect everyone's life after retirement. For example, we can promote the establishment of a personal commercial pension insurance system to provide flexible and diverse pension supplement options.
The pension system is an important part of ensuring the well-being of the elderly and achieving social equity. In the face of the challenges ahead, we need to work together to improve the pension system to ensure that everyone can enjoy their old age in retirement. Through the reform measures and personal self-suggestions, more targeted pension policies should be formulated according to the actual situation of different regions and groups of people to meet the pension needs of the elderly at different levels and needs. At the same time, strengthen the supervision of pension institutions, improve the quality and standards of pension services, and provide better life services for the elderly.
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