In the face of the reality that the pressure on pension revenues has increased, the central government has taken a series of positive and effective measures:
First, through the implementation of a comprehensive policy to reduce social security rates, and to create a "cake" of pension insurance, a virtuous circle of corporate development and pension insurance system development. On April 10, the State Council issued《降低社会保险费率综合方案》to reduce the proportion of unit payment for endowment insurance and adjust the upper and lower limits of the individual payment base. The implementation of the two policies not only reduces the social security burden of enterprises, but also lowers the threshold for participating in insurance contributions, helps to improve the enthusiasm of enterprises and employees, and integrates more employees into the pension insurance system to form a virtuous circle.
Second, through the implementation of the fund's central adjustment system, balance the burden of endowment insurance between regions, and help difficult areas to ensure distribution. At the end of 2018, the accumulated balance of enterprise pension insurance funds reached 4.78 trillion yuan, which has a relatively strong guarantee capacity. However, the structural contradictions are more prominent and the regions are very uneven. Since the second half of last year, the central government has implemented the central adjustment system for pension funds, and the progress has been relatively smooth, and it has begun to effectively alleviate structural contradictions.
The third is to continuously increase the strategic reserve fund, and will continue to grow bigger and stronger in the future. At present, the National Social Security Fund has a strategic reserve of about 2 trillion yuan, and the transfer of some state-owned capital to enrich the social security fund has been started, and will continue to increase the transfer efforts in the future.
Fourth, the financial investment of basic endowment insurance at all levels of finance has increased year by year. This year, the budget allocated by the central government to arrange enterprise endowment insurance reached 528.5 billion yuan, a year-on-year increase of 9.4%, and local finances also made corresponding funding arrangements.