China reports 1.079 billion basic pension participants at end-September
In short
China's basic pension insurance had 1.079 billion participants at the end of September, the Ministry of Human Resources and Social Security said on October 10. Unemployment insurance covered 251 million people and work injury insurance, including occupational injury protection, covered 327 million, while the three funds had a combined accumulated balance of 11.2 trillion yuan.
Read the full story 1 min read
China had 1.079 billion participants in basic pension insurance at the end of September, Ministry of Human Resources and Social Security spokesperson and vice minister Li Zhong (李忠) said at an October 10 briefing, according to China News Service. Unemployment insurance had 251 million participants and work injury insurance had 327 million. The three social insurance funds had a combined accumulated balance of 11.2 trillion yuan, Li said. [ 6 ]
The work injury insurance figure includes occupational injury protection, according to CLS, Yicai and Jiemian. The figures were presented at a State Council Information Office briefing held on the morning of October 10 as part of a series on the start of the 15th Five-Year Plan. Ministry officials discussed advancing high-quality development in employment and social security. [ 1 , 3 , 5 ]
Li said the ministry would coordinate efforts to expand insurance participation, deepen reform and improve services. A priority is to encourage and support workers in flexible employment and new forms of employment to participate in employee pension insurance. The ministry also plans pilot programmes to expand enterprise annuity coverage and to advance implementation of the individual pension system, China News Service reported. [ 6 ]
Other planned measures include improving policies for transferring and continuing social security coverage, making more social security services available nationwide and promoting broader use of a single social security card. Li also outlined stronger supervision of social security fund safety and efforts to preserve and increase the funds' value. He said these measures were intended to make social security more tangible, better organised and more reliable. [ 6 ]
Why it matters
The ministry plans to encourage workers in flexible employment and new forms of employment to join employee pension insurance. It also intends to expand enterprise annuity coverage through pilot programmes, advance the individual pension system and improve access to social security services nationwide.
Key facts
- Basic pension insurance had 1.079 billion participants at the end of September. [ 1 , 2 , 3 , 4 , 5 , 6 ]
- Unemployment insurance had 251 million participants at the end of September. [ 1 , 2 , 3 , 4 , 5 , 6 ]
- Work injury insurance, including occupational injury protection, covered 327 million people. [ 1 , 2 , 3 , 5 ]
- The three social insurance funds had an accumulated balance of 11.2 trillion yuan. [ 1 , 2 , 3 , 4 , 5 , 6 ]
- The ministry plans to encourage flexible-employment workers and workers in new forms of employment to join employee pension insurance. [ 1 , 2 , 3 , 5 , 6 ]
Confirmed by several sources
- China reported 1.079 billion basic pension insurance participants at the end of September. [ 1 , 2 , 3 , 4 , 5 , 6 ]
- The accumulated balance of the three social insurance funds was 11.2 trillion yuan. [ 1 , 2 , 3 , 4 , 5 , 6 ]
- The ministry plans pilot programmes to expand enterprise annuity coverage and further implementation of the individual pension system. [ 1 , 2 , 3 , 5 , 6 ]
Still unclear
- No open questions in the coverage so far.