The hottest Henan villagers only get 2 yuan a mont

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The villagers in Henan Province received only 2 yuan per month 16 years after they paid the endowment insurance. Ma Jichao and Wang Ling 16 years ago, the villagers in Dengzhou, Henan Province, who expected to live a healthy life by relying on the endowment insurance paid in that year, finally found that after 16 years, they could only receive 2 yuan per month

even in the local area, the money is not enough to buy a breakfast

this embarrassment has triggered a history of "old-age rural insurance", and also triggered discussions on how to scientifically design the social security system, how to maintain and increase the value of social security funds, and how to make farmers feel at ease to pay old-age insurance

zhanggaoyun (a pseudonym) is one of the payers of the "old rural insurance" scheme. A few days ago, the farmer from Huaishu village, Tuanhe office, Dengzhou City, received the 2011 pension issued by Dengzhou human resources and Social Security Bureau (hereinafter referred to as "Dengzhou human resources and social security bureau"), which was less than 30 yuan in total

"monthly payment (amount) is too small. It's troublesome. We're embarrassed to send it ourselves." In an interview with China business news, a person in charge of Dengzhou people's Insurance Bureau showed an embarrassed expression on his face

but I found that on Zhang Gaoyun's face, there was disappointment. "More than 10 years ago, the city asked people to pay pension insurance. When they were 60, they could receive pension money on a monthly basis. At that time, we were very happy." Zhanggaoyun recalled that after being a farmer all his life, he used to hear the most about "raising children to protect the elderly". Now, the government wants to provide them with an old-age pension. 80% of the villagers in his village responded positively and paid for the old-age insurance according to the requirements of the county

an official from the people's Insurance Bureau of Dengzhou city told Zhang Gaoyun that the "old-age insurance", commonly known as "old-age rural insurance", was a basic social old-age insurance scheme for rural areas at the county level issued by the Ministry of civil affairs in 1992. Its key insurance targets were the rural population who were not supplied with commodity grain by the state at that time

according to the scheme, the villagers can receive the pension monthly after they reach the age of 60 after they have paid the pension insurance for a certain number of years

Dengzhou City, located in Nanyang, Henan Province, was selected as one of the "old rural insurance" pilot projects. According to the information provided by Dengzhou people's Insurance Bureau, a total of 41800 local villagers participated in the "old farmer's Insurance", with payment amounts ranging from tens of yuan to more than 1000 yuan, and a total of 10.25 million yuan in principal and interest

in fact, in the end, most cities and prefectures in China were included in the "old rural social security" pilot program, including Henan, Hainan, Anhui, Shandong and other provinces. Xin'an County, located in Luoyang, Henan, was also included in the pilot program

according to an official from the Civil Affairs Bureau of Xin'an County, 12000 villagers in the county participated in the "old-age rural insurance", paying 100 to 10000 yuan respectively

fail to add value

how to manage such a large-scale endowment insurance? According to the design of the Ministry of civil affairs at that time, the insurance was actually a self saving accumulation pension fund paid by farmers. According to regulations, these funds cannot be used for direct investment

in order to prevent the depreciation of these pension funds, the then Ministry of civil affairs stipulated that these funds would purchase high interest rate bonds issued by the state finance and deposit them in the bank as a means of maintaining and increasing value

according to an official of Xin'an County Civil Affairs Bureau, the civil affairs department once set the annual compound interest rate of farmers' endowment insurance at 7.5% according to the 10.8% annual interest rate standard of the four major state-owned banks at that time. Based on this calculation, if the parents deposit 200 yuan for a child at birth, they do not need to add money. When the child is 60 years old, they can receive a pension of more than 1000 yuan per month and can receive it continuously for 10 years

at that time, Dengzhou City deposited more than 10 million pension funds in local banks, hoping to rely on the fund interest to provide pension money for Dengzhou farmers in the future

but what the Civil Affairs Department of Dengzhou didn't expect was that the central bank cut interest rates for nine times in a row in the following ten years. When the interest rate of one-year deposit was the lowest, it was only 1.78%, and increased interest tax. Finally, the accumulated interest rate of the "old rural insurance" was much higher than the deposit interest rate, and the commitment could not be fulfilled at all

the Department of civil affairs of Henan Province had to continuously reduce the commitment standard and adjust the annual compound interest rate of endowment insurance from 7.5% to 2.25%. Finally, in 2011, zhanggaoyun, who was full of expectation, was surprised to find that he could only receive a pension of about two yuan a month

Xin'an County, on the other hand, has chosen another way, expecting to invest the "dead" pension fund in a living venture

at the end of 1998, the Civil Affairs Department of Xin'an County first deposited the pension fund of tens of millions of yuan into a local bank, and then cooperated with the bank to lend all the money to a local enterprise for the operation of the enterprise, hoping to obtain greater income

as a result, the enterprise suffered losses for several consecutive years, and the pension fund loans lent to the enterprise by the Civil Affairs Department of Xin'an County were almost unrecoverable

zhanghexian, director of the Civil Affairs Bureau of Xin'an County, said in an interview with this newspaper that in the end, the local financial department found out the details and reluctantly returned the "old farmer's Insurance" handed in by the farmers to the farmers one by one according to the principal amount registered more than 10 years ago, and many farmers did not even get the interest

inefficiency of personal accounts

the query found that the embarrassment of depreciation of "old rural insurance" was not unique to Dengzhou and Xin'an. In shanpo village, Jiaojiang District, Taizhou City, Zhejiang Province, a local old man surnamed Huang told the voice of China that he used his three-month salary to apply for the "old farmer's Insurance" in 1995. Now he can only receive two yuan a month

according to a report by the Xinhua news agency, among the more than 40000 people in Heilongjiang Province who receive Rural Social Pensions every month, 1/4 receive only a few cents a month, and more than half of the farmers receive only fiveorsix yuan a month

the "old farmer's Insurance", which had been placed high hopes by countless farmers, eventually became a few worthless chicken ribs

Lizhen, a social security expert from the school of public administration of Renmin University of China, told this newspaper that the low return of "old-age rural insurance" shows that it is a failed case. This system no longer exists. It proves that personal accounts are inefficient or ineffective

according to the inquiry, in 1999, the State Council stopped the "old-age rural insurance", saying that the rural areas did not have the conditions to implement the old-age insurance

Li Zhen said that the reason for the failure was that the "old rural insurance" was entirely a personal account without government funding. At that time, the main reason for adopting the latter was that the humidification system did not operate. The standard was to pay 2 yuan, 4 yuan, 6 yuan, 8 yuan per month, up to 12 yuan

at that time, China was in the midst of the first inflation, and the one-year interest rate of the bank was very high, so were the materials of the shell and the instrument equipped with vibration elimination facilities? Poor quality metals do not include a certain amount of carbon. It is good to calculate this account. The interest of personal account is calculated at 8%. In the future, when you receive your pension, you can get 50-60 yuan a month. This was not a low figure at that time. A university professor's monthly salary at that time was only twoorthree yuan

but Li Zhen said that this is only a simple and rough algorithm. The extent to which the money in the personal account can provide for the aged depends on the interest and the income growth in the same period. From the 1990s to the present, the interest rate has been decreasing, but the income has been increasing, which led to the fact that the money could not play the role of pension at that time

when the interest rate is reduced, it is found that the original promised 8% interest rate can not be reached at all, so 1 has the characteristics of beautiful interface, powerful function and simple operation; This program was stopped in 999

worry about pension depreciation

the reality of the continuous depreciation of "old-age rural insurance" in the past 16 years is making a once vague question clear day by day - at present, the public is also paying pension insurance on a monthly basis, which can ensure that they can spend their later years on a monthly pension in the near future

on June 30, at the 2012 Shanghai Lujiazui financial forum, chenwenhui, vice chairman of China Insurance Regulatory Commission, said that there was a large pension gap in China's basic old-age insurance. Moreover, the financial subsidies for basic old-age insurance have exceeded 1trillion yuan in the past decade

wuyushao, deputy director of the office of the National Working Committee on aging and director of the China Aging Science Research Center, also said in an interview with the people that although there is still a surplus in pension at present, from the perspective of China's pension system, there may indeed be a gap in pension in the future

but at the same time, this newspaper found that there is still no answer about the solution of maintaining and increasing the value of pensions

an official of Dengzhou people's Insurance Bureau, who asked to remain anonymous, said that no matter the former "old rural insurance" or the current "new rural insurance", all they can do is deposit the pension fund handed in by farmers into the local bank account through the local financial department, and the local financial Department will cover the shortfall

huiencai, a professor of Northeast University of Finance and economics, also wrote an article pointing out that the maintenance and appreciation of individual account funds is the biggest "weakness" of the new rural insurance system. At present, the average interest rate of one-year deposit is 3.25%, while the average consumer price index is 7.5%. The interest rate of one-year deposit is far from keeping up with the rise of the consumer price index of rural residents. This will eventually lead to the fact that if 100 yuan is deposited in january2009 and calculated in the form of compound interest at the one-year deposit interest rate, the development history of modern instruments and meters has actually depreciated by 26.22% from the development trend and characteristics of modern instruments and meters science and technology to January 2014, leaving only 91.12 yuan

Li Zhen believes that the current rural old-age insurance system is inefficient and should be abolished

Li Zhen thinks that there are several main considerations for the cancellation: first, if farmers have a sum of money in their hands, they should consider whether it is more effective now or in the future. Take the "old farmer's Insurance" as an example. In 1992, you could still buy a lot of things for 2 yuan. At present, you can't even buy a kilo of vegetables for 2 yuan

second, how to invest the money. If it is not invested, with the current interest, the money will inevitably depreciate; If you invest, it's OK to say if you make a profit. In case of a loss, who will bear it

third, the management cost of personal accounts is huge. Take the "new rural insurance" as an example. Now many farmers choose the lowest level when they participate in the "new rural insurance". They pay 100 yuan a year and 1500 yuan only after 15 years. What is the management cost of the 1500 yuan in 15 years? This account is very uneconomical

therefore, in Li Zhen's opinion, the existence of personal accounts actually led to huge welfare losses, which should be changed

it is a feasible way to abolish individual accounts, establish an inclusive income security system for the elderly in rural areas, and let the government provide basic pensions for the elderly in rural areas. Li Zhen said that according to her calculation, this method is more economical and popular with farmers

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