What is Pension Reversion?

The pension system is a kind of welfare system that the state implements to protect specific citizens after retirement or incapacity to maintain normal living standards. After the workers are old or incapacitated, certain citizens shall be paid monthly or one-time insurance benefits in monetary terms in accordance with relevant state documents and their contributions to society and their eligibility for retirement insurance or retirement conditions. It is mainly used to protect the basic living needs of these citizens after retirement, to be "old and supportive", to relieve citizens' worries and worries about end-of-life care, to reduce the contradiction between social harmony and stability, and to reduce the widening gap between rich and poor There's important meaning.

Pension system

The so-called pension system is a system category, which means that it is implemented in accordance with legal regulations.

From

The establishment and development of the retirement and pension system in human society has only a history of more than 100 years. Before that, people often worked until their deaths and even spent their old age in poverty.

In the 1880s,

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(I) Incomplete coverage and huge potential risks in the future

First of all, China is a large agricultural country with great potential for industrialization.

Asia-Pacific Pension System and Its Reform Trend

Asia's population structure is facing severe and major challenges, and the future pension system in the entire Asia-Pacific region is taking shape.

With 60% of the world's population, Asia is facing the most drastic demographic change in the world. In 2050, the average elderly in Asia

I. Establish a unified multi-level security system to ensure the retirement living standard of the elderly

The "Decision on Establishing a Unified Basic Pension Insurance System for Enterprise Employees" issued by the State Council in 1997 established the basic pension insurance system combining account consolidation and put forward the general goal of the reform of the pension insurance system at the end of the 20th century, which is to basically establish a socially-adapted society The requirements of a market economy system apply to various types of urban enterprise employees and self-employed workers, multiple sources of funds, multiple levels of protection methods, and management and service of a socialized endowment insurance system. On the basis of unifying the basic endowment insurance system, guidelines for supplementary endowment insurance and personal savings endowment insurance for enterprises should be issued as soon as possible to unify local policies and achieve the goal of a multi-level security system.

2. Overall consideration of the affordability of the country, units and individuals, and reasonable determination of payment rates

The function of the unified fund in the basic pension insurance should be set to meet the needs of the basic pension insurance. The unified fund is jointly funded by the state and the unit, similar to the first guarantee of the Canadian pension system; the personal account fund in the basic pension insurance is separated. As a compulsory supplementary endowment insurance, it is initiated by the government, the government is exempt from taxes, and the government is strictly supervised, which is equivalent to the second level of protection; vigorously promote corporate supplementary endowment insurance and personal voluntary savings endowment insurance. The situation is initiated voluntarily, and the government has formulated relevant tax incentives and other relevant incentive policies to show encouragement. Individual voluntary savings endowment insurance is guided by the government and individuals voluntarily participate.

3. Further accelerate legislation to ensure the implementation of the old-age insurance system

Following the promulgation and implementation of the Labor Law of the People's Republic of China in 1995, the Regulations on Unemployment Insurance, the Regulations on Minimum Living Security for Urban Residents, and the Provisional Regulations on the Collection and Payment of Social Insurance Premiums have also been issued accordingly, but administrative regulations on pension insurance Yet

Pension system pension adjustment

According to the Chinese government website, on January 14, 2015, the State Council issued the "Decision of the State Council on the Reform of the Pension Insurance System for Staff of Institutions and Institutions" Guofa [2015] No. 2. ^{[3] The} "Decision" clearly established a normal adjustment mechanism for basic pensions. According to the increase in employee wages and changes in prices, make arrangements for the adjustment of basic pensions for retirees in government agencies, institutions, and enterprises, and gradually establish a normal adjustment mechanism for pension insurance benefits that takes into account all types of personnel, share the results of economic and social development, and protect the basic life of retirees .

Pension system pension inheritable

The Ministry of Human Resources and Social Sciences held a press conference today. Li Zhong, a spokesperson, responded to "the money will be forfeited after the death of an insured person in the basic old-age insurance system." Li Zhong said that if the insured person dies, whether he died at work or whether When he dies when he receives basic pension insurance benefits, the balance of his personal account deposit can be inherited according to laws and regulations.
Li Zhong pointed out that China's basic endowment insurance is a model that combines social pooling and personal accounts. Among them, a personal account is established for the insured at 8% of my paid salary. The personal account is mainly used for the pension of the insured person. In principle, no withdrawal can be made in advance. If the insured person has reached the legal retirement age and the accumulated payment has reached 15 years or more, he will receive a basic pension on a monthly basis. The basic pension includes two parts: one is the basic pension and the other is the personal account pension. The basic pension is paid from the pooled fund and the personal account pension is paid from the savings of the personal account. If the life of the individual is relatively long and the personal account storage is insufficient to pay, the pension of the personal account will be transferred to the unified fund to ensure that the pension of the personal account can continue to be paid.
Li Zhong said that if an insured person dies, whether he dies while in service or dies when receiving basic endowment insurance benefits, the balance of his personal account balance can be inherited in accordance with laws and regulations. That is to say, China's basic endowment insurance adheres to the law of large numbers of social insurance, embodies mutual aid, the state assumes longevity risks, and has inherited the provisions on the balance of personal accounts. The issue of forfeiture. ^[4-5]