The Poster News APP:

The speed of aging in China is accelerating, and the issue of elderly care has attracted more and more attention. In terms of developing a multi-level and multi-pillar elderly care system, what has the MOHRSS done in the past 10 years? What are the next measures? Thank you.

Li Zhong:

The old-age pension insurance you are concerned about is an important part of the social security system. Since the 18th CPC National Congress, China's social security system has undergone its greatest reforms and the fastest development. Under the strong leadership of the CPC Central Committee with Comrade Xi Jinping at its core, while focusing on enhancing fairness, adapting to mobility, and ensuring sustainability, we have made overall coordination efforts to promote the construction of a social security system that covers the entire population, integrates urban and rural areas, and is fair, unified, and sustainable. These achievements have attracted worldwide attention.

First, breakthroughs were made in the construction of the institutional system. During this period, we carried out the top-level design of old-age pension insurance and issued an overall plan for the reform of the pension insurance system. We unified the pension insurance system for urban and rural residents, forming two basic pension insurance system platforms for urban workers and urban and rural residents. We implemented the reform of government office and public institution pension schemes and brought the schemes into line with enterprise schemes. We issued basic pension insurance fund investment management measures and carried out market-oriented investment operations. We have established a central regulation system for enterprise pension insurance funds and fully realized the provincial-level overall planning of pension insurance. At present, we are speeding up the implementation of the overall national pooling of pension insurance. We have established an occupational annuity system and introduced a personal pension system, filling the gap in the multi-level and multi-pillar pension system.

Second, the coverage continued to expand. Focusing on the goal of covering all the people with social security, we have implemented a coverage plan for all the people and precisely promoted key groups of people to participate. From 2012 to the end of June 2022, the number of people under the basic old-age pension insurance system has increased from 790 million to 1.04 billion, and the number of people covered by old-age pension insurance has increased by 250 million in the past decade.

Third, the level of benefits has been steadily improved. Taking into account factors such as price changes, employee wage growth, fund affordability, and financial conditions, we have continuously adjusted the basic pensions for retirees from enterprises, government offices, and institutions since 2012 and established and improved a mechanism for determining and rationally adjusting basic pension benefits. Since 2014, we have raised the national basic old-age pension standard of basic pension insurance for urban and rural residents four times.

Fourth, the management service level has been significantly improved. With pension insurance at its core, social security records, guarantees, and serves a lifetime of a person. We have further standardized and normalized IT-based constructions of management services, and it is more convenient and efficient for people to process social security affairs at nearby places, online, and in a quick manner. As of the end of June 2022, the number of social security card holders exceeds 1.36 billion, of whom more than 575 million are holders of electronic social security cards. The cumulative number of visits to the national social insurance public service platform has exceeded 3.6 billion, which effectively ensures easier access to cross-provincial services through a single portal.

Fifth, its role as a "shock absorber" for economic operations is prominent. In 2020, in order to effectively respond to the severe impact of the COVID-19 pandemic, we implemented an unprecedented policy of "fee cut, exemption, delay, reduction, refund, and subsidy." We have reduced the burden on enterprises by 1.54 trillion yuan in three social insurances, including pension insurance. This year, we have further introduced a relief policy to help enterprises, which will allow them to postpone their payment for contributions to the three social insurances, including pension insurance, as a temporary measure. These policies are of higher value, can benefit more people and businesses, and are widely recognized by enterprises and people from all walks of life.

Next, we will adhere to the guidance of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, follow the decisions and arrangements of the CPC Central Committee and the State Council on the top-level design of pension insurance, and actively adapt to the situations and requirements of the aging population, new urbanization, and diversification of employment methods. We will continue to push forward the major reform of the social security system and continuously expand the coverage of social security, especially to include more people in flexible employment into the scope of social security. We will actively promote the rule of law in social security and pay more attention to the safety of social security funds as well as protecting and increasing their value. We will strive to improve the level of detail of social security management and the level of high-quality services and solidly promote a fairer and more sustainable social security system. Thank you.

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