Focusing on the ＂fourteen consecutive increases＂ in pensions will benefit 114 million retirees.
A few days ago, Ministry of Human Resources and Social Security and the Ministry of Finance jointly issued the Notice on Adjusting the Basic Pension for Retirees in 2018, which clearly stated that from January 1, 2018, the pension for retirees of enterprises, institutions and institutions will be raised according to the standard of about 5% of the overall level. It is estimated that 114 million retirees will benefit from this.
How to determine the increase
From 2005 to 2017, China has raised the basic pension for enterprise retirees for 13 consecutive years, raising the monthly basic pension level for enterprise retirees from more than 700 yuan to about 2,500 yuan in 2017. Among them, in 2016 and 2017, unified arrangements were made and the basic pensions for retirees of enterprises, institutions and institutions were adjusted simultaneously.
Jin Weigang, president of the Chinese Academy of Labor and Social Security, said that the overall adjustment level of about 5% is a prudent decision made by the state to continuously meet the people’s growing needs for a better life and take into account the long-term sustainable development of the old-age insurance system. "The level of pension adjustment is mainly determined by factors such as the average wage increase of employees, rising prices, and the ability of fund support".
Judging from the actual situation, after years of reform and opening up, China’s economic development has entered a new normal, which has shifted from a high-speed growth stage to a high-quality development stage. The economic growth rate has slowed down, the average wage of employees has increased steadily, and the price increase has been slightly lower than the same period of last year. At the same time, the number of people receiving basic pensions is increasing, coupled with the accelerated development of the aging population, the dependency ratio of the number of people paying fees to the number of people receiving treatment is declining, the burden of providing for the aged is getting heavier and heavier, and the pressure on the income and expenditure of the endowment insurance fund is increasing.
"Adjusting the treatment of retirees by about 5% and appropriately slowing down the growth rate of pensions will not only do our best, but also do what we can. On the basis of ensuring the basic life of retirees, it has realized that the majority of retirees can share the fruits of economic and social development appropriately, which is conducive to better protecting the long-term rights and interests of retirees and making people’s sense of acquisition, happiness and security more substantial, more secure and more sustainable. " Jin Weigang thinks.
If you pay more, you will get more.
Jin Weigang particularly emphasized that the adjustment level of "about 5%" is the overall per capita level of the adjustment of the treatment of all retirees in enterprises, institutions and institutions. It is not that retirees in enterprises and institutions are based on their respective per capita pension levels, and they are all adjusted according to the ratio of 5%, and not every retiree increases his pension by 5%.
First of all, this year’s adjustment will continue to adhere to the principle of "merging", and the adjustment methods are basically the same as those in 2016 and 2017. Enterprises, institutions and institutions will uniformly implement the adjustment method of "combining quota adjustment, hook adjustment and appropriate tilt": quota adjustment reflects social fairness, and the adjustment standards for all types of retirees in the same region are basically the same; The adjustment of the hook reflects the incentive mechanism of "paying more and getting more" and "paying more for a long time", so that those who pay more and pay more for a long time can get more pensions; Appropriate tilt reflects the key concern, mainly for the elderly retirees and retirees in hard and remote areas and other groups to take care of. "This adjustment method can properly adjust the income gap of retirees, reflecting the principle that redistribution pays more attention to fairness." Jin Weigang said.
At the same time, due to the differences in the level of economic development and the basic situation of retirees in different regions, there may be some differences in the specific adjustment methods between regions, enterprises and institutions. Specific to each retiree, there will be some differences in the actual increase and adjustment level due to different payment years and pension levels. Generally speaking, the absolute amount of the basic pension will be relatively high for those who have a long service life and a high level of payment wages.
"The adjustment time will start from January 1, 2018." Jin Weigang said that due to the differences in local conditions, the time for adjusting the payment of pensions in various places may be fast or slow, but in short, the increased pensions will be paid to retirees as soon as possible.
Take multiple measures to deal with the pressure of pension payment
Chu Fuling, director of the Social Security Research Center of the Central University of Finance and Economics, pointed out that in order to cope with the future pension payment pressure, the state has taken various measures: First, it has established a national social security strategic reserve fund with a current market value of 2 trillion yuan, which can be used to supplement the basic old-age insurance fund for employees in the future to alleviate the pension payment pressure brought about by aging; Second, the investment mechanism of the basic endowment insurance fund for employees has been established, and efforts have been made to maintain and increase the value of the endowment insurance fund; The third is to allocate part of state-owned capital to make up for the cost of pension insurance transformation for the "old people" and "middle people"; Fourth, governments at all levels should bear the responsibility of paying pensions in full and on time according to law, and enhance the credibility of the system.
"In short, the framework of China’s endowment insurance system is becoming more and more perfect, and the operation of endowment insurance funds is generally stable. By deepening reforms and taking multiple measures, the sustained and healthy development of China’s endowment insurance industry can be realized." Yan Fuling said.
(Reporter Qiu Wei)