Qiushi journal ｜ Excerpt: The new situation and new tasks faced by China's social security cause: population aging

(Excerpts from "Weaving A Strong Social Security Network" by CPC Leadership Group of the Ministry of Human Resources and Social Security, Qiushi Journal, NO. 03, 2022)

New situation and new tasks faced by Chinese social security: population aging

New CircumStances and Tasks for China ’s Social Security Program: Population aging

From the perspective of population aging, the characteristics of accelerated speed and huge scale have brought challenges to the sustainable development of the social security system.

In terms of population aging, the proces in China is defined by its acceleration speed and vast scale, post challenges for social prography.

With the pre -life expectancy of the population, the decline in the number of labor age, the increase in the average education period of the labor population, the low age of retirement, and the shorter of pension insurance payment, China's support has continued to decline compared to in recent years.

China's potential support ratio has fallen as a result of longer life expectancy, a smaller working population, and an increase in the average number of years of schooling. In addition, China has a lower than average retirement age and thus people make pension contributions for a shorter time.

Pension insurance raising ratio and rigid growth of pension payment will have a long -term balance of social security funds.

The Falling Ratio and the Increase in Obligrative Payments will affect the Balance of Revenue and Expendosition in Social Security Funds Over The Long Term.

In addition, due to the large amount of labor in the Northeast and the central and western regions to the east coastal areas, it has also brought about imbalanced incomes and expenditures between the funds between regions, and the burden is light and heavy.

In addition, large population flows from the northeast, central and western regions to the eastern coastal region will also create regional imbalances in social security funds, leaving some regions with heavier burdens.

Source: "Seeking" English version

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