Local two sessions to respond to pension concerns more clearly will raise pensions

2022-05-04 0 By

Since January, many places entered the “local NPC and CPPCC time”, and the pension issue has been the focus of attention, has become one of the “local NPC and CPPCC” hot words.Elderly care service is about well-off.This reporter combed through the 2022 government work reports of many localities and noticed that many localities included old-age care related work in them.For example, the Work report of the Beijing Municipal Government mentioned “time bank” for the first time, encouraging market-oriented professional institutions to participate in providing assisted meals and other old-age services, and developing the mode of mutual assistance for the elderly such as time bank.Shanxi Province said it plans to implement a number of public service projects, such as nursing and childcare, to promote “5G+ smart elderly care” and develop the “silver economy”.Liaoning province also mentioned promoting smart and healthy elderly care.Jiangsu said it would “establish and improve a list of basic elderly care services”.”The local government will focus on pension work is not only to face the reality of the aging phenomenon of society, but also the local government’s active, active governance of the people’s consciousness.”Institute, vice President of Beijing normal university, government management, the industrial economic research center director song to qing told reporters that in our country old population scale expands unceasingly, the elderly increasingly strong market demand, pension services, such as the elderly leisure industry under the background of rapid development, local government needs of the elderly and to create more new forms, new industries and new patterns,To make it a strong support for high-quality economic development and social harmony, to enhance social harmony, innovation of pension model, further explore the mechanism and system of the whole society to provide for the elderly to create conditions, strengthen the confidence.Ming Ming, chief economist at Citic Securities, told reporters that it would also help ease the burden on young people in terms of elderly care, thus easing the fertility problem.In addition, strong support and development of the elderly service market will help promote high-quality development of the Chinese economy.It is worth mentioning that the Central Economic Work Conference held at the end of 2021 mentioned that in economic work this year, we will “promote national pooling of basic old-age insurance”.In December 2021, opinions on Promoting the Development of Personal Pension will be released, which means a new era of “personal pension” will begin.In the 2022 government work report of many places, “pension” is also listed.Shaanxi province, for example, said it would “promote national pooling of pension insurance for enterprise employees to ensure that pensions are paid on time and in full”.Henan province stressed that “the implementation of enterprise workers basic endowment insurance nationwide planning work.”Hebei province should raise retiree basic pension clearly.The Tibet Autonomous Region has demanded that the basic pension of the basic old-age insurance for urban and rural residents be increased by 10 yuan per person.Guangdong said it would “steadily raise standards for basic pension insurance and social assistance for urban and rural residents”.”To promote the national pooling of basic endowment insurance is an inevitable choice for the organic integration and coordinated development of China’s pension industry, pension industry and insurance in order to cope with the aging of the population. It is also an important means to build a national pension network system and form a national pension chess mechanism and scheme.”Song Xiangqing said that this is conducive to breaking the mechanism limit of pension insurance funds can only be paid in the province, promote the cross-regional integration of pension and insurance in China and convenient payment, can quickly improve the quality of life of the elderly, greatly improve the elderly sense of pension, happiness and security.”In recent years, China has been paying attention to the diversification and multi-level of pension insurance, providing more pension options and convenience for the elderly, among which the third pillar commercial pension insurance and personal savings pension insurance have continued to develop into the new growth engine of China’s pension system.However, the third pillar is relatively weak and needs to be strengthened by building new service systems.”Song Xiangqing further stated.In this regard, I have made clear suggestions from three aspects. First, starting from the top-level design, we should build a mechanism for coordinated development with three pillars.Second, strengthen the publicity, education and guidance of financial institutions and government departments on the “third pillar”;The third is to establish a policy incentive mechanism driven by tax policies, such as linking the third pillar with individual income tax, or reducing the contribution rate of pension insurance for employees who buy the third pillar.In Song Xiangqing’s opinion, the capital market is an important support for pension cause and pension industry. In the future, the effective connection between the third pillar and the capital market can be realized through further strengthening tax incentives, accelerating the construction of multi-agency joint supervision system, strengthening and improving the personal pension account system and other systematic reforms.For the capital market, all kinds of financial service providers and investment and operation enterprises, the third pillar pension market is not only a strategic opportunity for the development of capital and enterprises, but also a social and historical call of duty. It is suggested that relevant pension product suppliers, supply channels and pension consulting institutions can participate in and work together.Actively create a truly customer-centered new business model for the elderly to create solid capital and service support for China’s third pillar pension development.(Securities Daily)