Jin Weigang, director of Ministry of Human Resources and Social Security Social Security Research Institute, said that at present, the basic endowment insurance fund for urban workers in China is still unable to make ends meet. Last year, the current balance was more than 350 billion, and the accumulated balance of the fund reached 3.52 trillion. In some co-ordination areas, there is a gap in the current fund income and expenditure, and the accumulated balance and financial subsidies over the years can be used to protect the pension.
Experts such as Chu Fuling said that to ensure the timely and full payment of pensions, on the one hand, it is necessary to speed up the national overall planning of pensions and realize a wider range of fund transfers; On the other hand, it is necessary to improve the incentive mechanism of social security payment, increase fund income, realize pension investment and operation as soon as possible, and ensure long-term sufficiency of pension funds.
This year's new pension is expected to be paid before the end of June.