A Study On The Influence Of The Imbalance Of Income And Expenditure In The Basic Pension Fund

Promoting economic development and improving people’s livelihood and prosperity is a common theme that all countries in the world must face.The basic old-age insurance system is the most basic institutional guarantee for promoting economic development and safeguarding people’s livelihood and welfare.General Secretary Xi Jinping pointed out in the report of the 19th National Congress that "socialism with Chinese characteristics has entered a new era,and the main contradictions in our society have been transformed into the contradiction between the people’s growing needs for a better life and the unbalanced development." The fundamental standpoint is that "the people’s interests must always be placed in the supreme position,so that the reform and development results will be more fair and fair to the benefit of all people,and we will continue to advance towards the common prosperity of all people." China’s social pooling and individual accounts combined with the basic endowment insurance system has been implemented for more than 20 years.The implementation of this system has achieved world-renowned achievements,but the current pension system faces a series of long-term challenges and institutional dilemmas.The core problem is that the pension gap is huge,and the sustainable development of the pension insurance fund is questioned.In addition,the proportion of pension insurance contributions in some regions is too high,and the basic pension insurance fund has a heavy financial burden on the government.China’s management model for employees’ pension insurance system is a combination of social pooling and human accounts,and provincial-level coordination is implemented.Although the system stipulates the nominal contribution rate and the contribution base,the localities can reconfigure the rates and fee bases according to local conditions,resulting in a huge gap in the payment levels across China.Therefore,the fair development capability and market competitiveness of regional enterprises with relatively heavy payment burdens are affected to some extent.In the pilot provinces of China,the pilot provinces have changed the pay-as-you-grow system from the pay-as-you-go system to the partial accumulation system,which has formed the cost of reforming the social pension insurance system.On the one hand,it is the implicit debt caused by the reform of the personal account.On the other hand,the transfer of state-owned enterprises in the original industry to the territorial management led to the "localization of invisible debts",and the realistic pattern of regional division and integration made this double burden mainly on local governments,heavy pensions.Burden has become an important factor influencing the economic development of these regions.As of 2017,the accumulated balance of China’s basic endowment insurance funds was 4.12 trillion yuan,and the balance of income and expenditure balances of basic endowment insurance funds in various regions was huge.In areas with low turnover,such as Guangdong,Zhejiang and Jiangsu provinces,there are many pension fund balances,and the growth rate is fast.In the areas that have been converted into high-end areas,such as China’ s old industrial base,there are no balances in the three provinces’ pension funds,and the gap is increasing.In 2016,the fund balance of Guangdong Province reached 765.3 billion yuan,while the balance of basic pension insurance fund of Heilongjiang 2016 was-19.6 billion yuan.The gap of pension funds during the "13th Five-Year Plan"period in Liaoning Province exceeded 250 billion yuan.The basic pension insurance fund between regions was severely affected.Unbalance has become an indisputable fact.The basic old-age insurance system combining social pooling and individual accounts in China has not achieved the fairness and sustainable development goals of the implementation of the pension insurance system.In some areas,the positive interaction between the system and regional economic and social development has not been realized.General Secretary Xi Jinping opened the curtain of the reconstruction of the pension insurance system in the report of the 19th National Congress.Especially in the context of economic globalization,China’ s economic development is facing a new economic normal,a aging population,a huge demographic structure,and a new format.Residents have a large income gap and are not rich and old,and how to reconstruct the old-age insurance system is a realistic problem that needs to be solved in all walks of life.This paper analyzes the important and unrealistic problems of the construction of the basic old-age insurance system in China from the normative and empirical aspects.The impact of the imbalance of income and expenditure of the basic old-age insurance fund is listed in many aspects.This paper mainly focuses on the economic environment and social environment.The perspective is elaborated,and its impact on the economic environment and social environment of regional development is deeply analyzed.further proposes counter measures and suggestions to deal with the imbalance of the balance of income and expenditure of basic old-age insurance funds.The research of this paper has important scientific significance and practical value for making the social pension insurance system truly become the"stabilizer" of economic and social development and promoting the modernization of the national governance system and governance capacity.