Balance the "three pillars" system and build a solid foundation for pension w88 casino games login
(Source: People’s Daily Online 2019-01-27)
The aging of my country’s population is gradually deepening, and the people’s needs for elderly care are growing day by day. To actively respond to the aging of the population and allow the elderly to enjoy their old age with dignity, the cornerstone of national governance of "enabled care for the elderly" should be firmly established. As an important part of the social security system, what challenges does my country's current pension w88 casino games login system face and how should it be resolved? Invitation to this issue of "Government of China"Sun Jie, member of the National Committee of the Chinese People’s Political Consultative Conference and deputy dean of the w88 casino of Insurance at the w88 casino, let’s discuss how to balance the multi-level pension w88 casino games login system and build a solid foundation for pension w88 casino games login.
People's Daily Online: In 2019, the Central Committee of the Communist Party of China and the State Council issued the "National Mid- and Long-term Plan for Actively Responding to Population Aging", which has become a strategic, comprehensive, and guiding document for my country to actively respond to population aging. What do you think of this?
Sun Jie: The promulgation of the "National Mid- and Long-term Plan for Actively Responding to Population Aging" will elevate active response to aging to a national strategy. This just proves that people's livelihood security should not be just an accessory to economic construction, but should be carried out in an independent way for system construction. In the past, the reform of my country's pension w88 casino games login and even social w88 casino games login systems always followed other reforms, lacking its own reform layout, so that it seemed passive when facing the problem of population aging. Now, the issuance of the document sends a strong signal to find a path with Chinese characteristics to deal with the aging of the population and continue to improve the well-being of all people.
People's Daily Online: It is expected that by the 2030s, China will enter the peak period of population aging. The aging of the population will lead to increasing pressure on pension security and an increasingly heavy burden of financial subsidies. What problems need to be solved urgently in the field of pension w88 casino games login?
Sun Jie: With the acceleration of new industrialization, informatization, and urbanization, especially the aging of the population, pension w88 casino games login is facing many imbalances and insufficiencies, and its sustainability is under great pressure.
First, structural contradictions are prominent. The overall level of basic pension w88 casino games login for enterprise employees is not high, and pension w88 casino games login fund balances are unevenly distributed among provinces. As of the end of 2018, 7 provinces had cumulative balances of more than 200 billion yuan, accounting for 66.6% of the total balance; 9 provinces had cumulative balances of less than 50 billion yuan, accounting for only 2.5% of the total balance.
Second, long-term payment pressure is high. my country's elderly population is large and aging rapidly. Affected by the aging of the population, the dependency ratio of my country's basic pension w88 casino games login system for enterprise employees dropped from 5:1 in the early 1990s to 2.66:1 at the end of 2018. The number of contributors is growing slowly, the number of retirees is increasing rapidly, there are fewer people to live in and more to eat, and the pressure on fund revenue and expenditure is increasing.
Third, the development of the multi-level pension w88 casino games login system is uneven. Specifically, the basic pension w88 casino games login is the dominant one; the second pillar (enterprise annuity) has a low coverage rate and its development is obviously lagging behind; the third pillar (individual commercial pension w88 casino games login) is still in the exploratory stage.
Fourth, the incentive and restraint mechanism is imperfect. For a long time, people have relied too much on basic pension w88 casino games login and have low enthusiasm for participating in the second pillar. Regarding the third pillar, judging from the feedback from the pilot program of tax-deferred pension w88 casino games login, participation is not high and it is “applauded but not popular”. It still needs to be summarized and improved.
People's Daily Online: How should my country's pension w88 casino games login respond to these challenges?
Sun Jie: First, focus on implementing a central adjustment system for pension w88 casino games login funds and realizing national coordination of pension w88 casino games login to resolve structural contradictions. In 2018, a central adjustment system for pension w88 casino games login funds was established and implemented. As the first step in national coordination, the adjustment ratio was increased to 3.5% this year, which will further ease the pressure on fund revenue and expenditure in the central and western regions and provinces with old industrial bases.
The second is to focus on improving the dependency ratio and solve the problem of long-term sustainability of the system in the context of population aging. The main purpose is to comprehensively consider factors such as my country's labor supply and demand, education level, average life expectancy, fund income and expenditure, and follow the method of advance announcement and small steps to formulate and implement a progressive delayed retirement age plan in a timely manner, gradually increase the minimum payment period for receiving basic pensions on a monthly basis, and gradually improve the system dependency ratio.
The third is to focus on standardizing policies and interest guidance, and strive to solve the problem of imperfect incentive and restraint mechanisms. On the basis of adhering to the current basic pension calculation and payment methods, we will further improve the mechanism that closely links the benefit level with the individual's payment years, payment base and retirement age, so as to form a benefit orientation that pays more and gets more, and pays less and gets less.
The fourth is to accelerate the development of the second pillar of the multi-level pension w88 casino games login system. The first is to increase the participation rate, combine the implementation of the policy of reducing basic pension w88 casino games login premiums, optimize relevant tax preferential policies, and study measures to increase the participation rate. The second is to increase the replacement rate. According to the requirement of enterprise annuity to achieve a replacement rate of 15-20%, the replacement rate level should be gradually increased. The third is to increase the rate of return. Optimize investment operations, strengthen fund supervision, and maintain and increase value while ensuring reasonable risks.
The fifth is to accelerate the establishment of the third pillar of the multi-level pension w88 casino games login system. The system model of personal commercial pension w88 casino games login is planned to adopt a personal account system, with contributions borne entirely by the participants and fully accumulated; based on the target replacement rate of 10%-15%, the upper limit of personal pensions paid by participants is calculated as the amount of tax incentives. Participants can receive personal pensions monthly, in installments or in one lump sum after meeting the conditions for receiving them.
Establishing and improving a multi-level pension w88 casino games login system is an important part of improving the multi-level social security system and improving the modernization of the national governance system and governance capabilities.
People's Daily Online: With the obvious trend of population aging and chronic diseases increasing, the reliance on long-term care is very obvious. During the two sessions last year, you pointed out that the current financing channels and methods for medium- and long-term care w88 casino games login are unreasonable and unsustainable. One year has passed. How have these problems been solved?
Sun Jie: This issue has attracted the attention of the Ministry of Finance, the Medical w88 casino games login Bureau and other relevant units. In last year’s government work report, it was clear that the National Medical w88 casino games login Administration would take the lead in expanding the pilot program of the long-term care w88 casino games login system, which means that the “start button” has been pressed on the pilot expansion of the long-term w88 casino games login system. One year has passed. Judging from the results of the first batch of pilot projects, although there is a certain degree of instability in terms of financing, people in various places have a strong sense of gain after implementation. People are very happy and supportive. Local governments also think it is a good policy choice.
At present, various places are gearing up and actively preparing to join the second batch of pilot projects. As a system construction, I think it is very important. At the same time, the Medical w88 casino games login Bureau also pays attention to the use of medical w88 casino games login funds and strictly detects problems such as fraud, fraudulent compensation and w88 casino games login fraud in the use of medical w88 casino games login funds. The pressure on the revenue and expenditure of medical w88 casino games login funds needs people's attention.
People's Daily Online: At present, what problems still exist in long-term care w88 casino games login that need to be solved?
Sun Jie: At present, our long-term care w88 casino games login coverage for "severe disabilities" is relatively stable, but there is still great instability in the financing mechanism. In order to facilitate the launch of this project in some places, individuals do not need to pay fees. But I think there has to be personal responsibility, especially in long-term care, personal responsibility is important.
In addition, some regions want to expand the long-term care w88 casino games login system to cover the care costs of all disabled people from birth to death. This will actually increase the difficulties in operating the current system. I believe that long-term care w88 casino games login should first solve the problem of aging and appropriately share the care costs of disabled elderly people.
People's Daily Online: We must firmly establish the cornerstone of national governance of "providing support for the elderly" and build a policy system and social environment for providing care for, filial piety and respect for the elderly. Looking at the future, what breakthroughs will there be in pension w88 casino games login?
Sun Jie: On the one hand, it is recommended to expand the scope and geographical scope of applicable tax-deferred pension products. According to international experience, the introduction of preferential tax policies for commercial w88 casino games login often stimulates residents' enthusiasm for configuring pension w88 casino games login. At the same time, different tax credit ceiling policies can be formulated based on the different levels of economic development in each region. On the other hand, in the long run, tax-preferred health w88 casino games login has a very broad space. We should expand tax-preferred health w88 casino games login, improve the status and role of commercial w88 casino games login in the medical and health system, give full play to the protection function of commercial w88 casino games login, and promote the development of multi-level social security.
In addition, after state-owned assets are liquidated, they are transferred to social security funds and pension w88 casino games login funds, as well as financial subsidies and charity welfare funds... In short, a multi-pronged approach is adopted to coordinately respond to the impact of the pension w88 casino games login system as the population ages.
Attachment: Original report link
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