The emergence and development of my country’s pension insurance funds

my country’s pension insurance system was founded in the early 1950s. The first stage started from 1951 to before the "Cultural Revolution". On February 26, 1951, the Government Affairs Council of the People's Republic of China promulgated the first national social security regulations in my country's history - the "Labor Insurance Regulations of the People's Republic of China". After more than ten years of hard work, our country has initially established a pension insurance system, which not only stipulates unified payment conditions, treatment standards and payment ratios, but also stipulates that 30% of labor insurance funds should be turned over to the All-China Federation of Trade Unions as the general social insurance fund, which provides benefits to all regions. Adjustments were made with various enterprises, and nationwide coordination was actually implemented. The "Cultural Revolution" that began in 1966 caused catastrophic losses to various jobs, and the social insurance system was not immune. When institutions were withdrawn, information was lost, and government orders were blocked, in February 1969, the Ministry of Finance issued the "Opinions on the Reform of Several Systems in the Financial Work of State-owned Enterprises (Draft)", announcing that "all state-owned enterprises will stop drawing labor insurance funds." ", "Enterprises' retired employees, long-term illness wages and other labor insurance expenses will be expensed outside of business operations", thereby canceling the social pooled pension insurance system and turning it into enterprise insurance, forming a system with collective security as the main body. social pension security system.

In the mid-to-late 1980s, regional management of the pension insurance system emerged, which resulted in a series of serious problems: it was difficult for labor to move across regions, hindering the formation of a unified labor market; the central government lost macro-control Without power, regions are competing horizontally for treatment levels, but the ability to spread risks is very weak; it can easily lead to the loss of funds. In response to these problems, the State Council issued the "Decision on Establishing a Unified Basic Pension Insurance System for Enterprise Employees". At this point, the evolution from enterprise insurance to regional insurance to national unified pension insurance in the past 50 years has been completed, thus writing a chapter in the history of my country's pension insurance. Made the most perfect move. The hallmarks of the establishment of a unified pension insurance system are: unification and standardization of corporate individual contribution rate ratios; unification of individual account sizes; and unification of basic pension payment structures and standards. The establishment of a unified basic pension insurance system for enterprise employees is determined by the laws of social insurance itself. It is an inevitable requirement in the process of market-oriented labor resource allocation. It is also a need for the central government to strengthen its macro-control capabilities. In 1998, industry coordination was successfully transferred to local management, providing the necessary foundation for a unified system.