The pension benefits of enterprises and government institutions in China will be increased at the same time, and more than 100 million retirees will benefit from it. According to the analysis of experts, the increase rate of enterprise retirees' pension may be higher than that of government and institution retirees' pension, so a reasonable adjustment mechanism of basic pension should be established in the future. Will pension benefits rise in 2019? The new pension policy in 2019 is shocking.
In 2017, the pension benefits of enterprises and government institutions in China will be increased moderately at the same time, while the increase rate of enterprise retirees' pension may be higher than that of government institutions. Experts said that during the 13th Five Year Plan period, with the goal of narrowing the income gap, they will pay more attention to improving the distribution mechanism. The growth rate of the two is different, which is a direct reflection of the integration of enterprises and government institutions' endowment insurance system and the enhancement of fairness.
In addition, it may be difficult to return to the previous 10% level. 'the decline in growth was mainly due to the economic downturn and the decline in fiscal revenue. In addition, there is no objective basis for the pension system to increase 10% every year. '
Experts believe that in order to realize the continuous increase of pension in the future, it is necessary to open up new capital channels from the aspects of increasing financial investment, further expanding the scope of collection and payment of pension insurance, disposal of state-owned assets, diversified investment and operation, and ensure the replacement rate of the first pillar.
From the perspective of the sustainability of the fund itself, China social security development report 2016 believes that although the current growth momentum of endowment insurance fund expenditure is stronger than that of income growth, and the pressure of fund balance is increasing, on the whole, there will be no fund payment crisis in the system in the short term. By the end of 2015, the accumulated balance of basic endowment insurance funds had reached 3993.7 billion yuan.
With the current growth rate of pension benefits, can we maintain the replacement rate of pension (the ratio between the level of workers receiving pension when they retire and the level of their pre retirement wage income) unchanged? According to Zheng Bingwen, this mainly depends on the index jointly formed by GDP growth rate and social average wage growth rate. Pegging the index means that the level of substitution rate will not decline. Internationally, pension standards are formulated according to this approach.
In addition, the development of multi-level endowment insurance system and the acceleration of the development of enterprise annuity and individual commercial endowment insurance are also important ways to rationalize the replacement rate of pension and enhance the sense of access of the masses.
However, the enterprise annuity system is facing the challenge of low employee participation rate. At present, the number of participants is only 23 million, less than one tenth of the 260 million basic endowment insurance payers. Importantly, in the past years, the growth rate has exceeded 10% on a month on month basis, reaching a peak of 18%, but in 2016, it was only 1%, almost stagnant. This lame leg put the 'multi-level' pension security system in an awkward position.
The "13th five year plan" is clear, "to build a multi-level pension insurance system including occupational pension, enterprise pension and commercial insurance". At present, how to expand the participation rate of enterprise employees is the biggest problem in the development of enterprise annuity. Experts suggest that we can find a way out from the inefficient allocation of tax burden of existing enterprises, that is, on the premise of ensuring that the overall tax burden of existing enterprises does not increase, we can reduce the proportion of tax in inefficient operation through system reconstruction, so as to make the tax structure more reasonable. The reporter learned that the top-level design of the three pillar pension will be available soon.