Nearly 1.9 trillion of social Security fund balances are under pressure to shrink from low interest rates

Washington (reporter Yang Huayun) China's five Social Security fund balances have nearly 1.9 trillion yuan, bank interest rate ran but the CPI is shrinking the fund. The Ministry of Human Resources and Social Security yesterday released its 2009 Annual Bulletin on the development of human resources and social security.　　The communiqué showed that the balance of the five social insurance funds was nearly 1.9 trillion. According to the statistical bulletin, the Pension fund balances up to 1.2526 trillion yuan for the first time, the total balance of the urban basic Medical Co-ordination fund is 288.2 billion yuan, the personal account accumulates 139.4 billion yuan, the cumulative balance of the Unemployment insurance fund is 152.4 billion yuan, the cumulative balance of the work injury Insurance fund is 40.4 billion yuan　　The cumulative balance of the Maternity insurance Fund is 21.2 billion yuan.　　As the people's saving money, Social Security Fund is the most important, according to the current regulations, Social Security fund investment channels are very limited, in addition to deposit in the bank, but also to buy Treasury bonds, but the proportion of the purchase of government bonds is not high.　　Zheng Bingwen, a researcher at the Chinese Academy of Social Sciences, has been concerned about the value of the security fund, according to the study, China's CPI average of 10 per cent rose to 2.2%, and the five social insurance funds yield only 2%, plus the average wage growth rate of capital purchasing power actually fell by 1%.　　With the current central bank's one-year fixed-term renminbi deposit rate of 2.25%, the CPI rose by 2.8% in April this year, and in fact the Social Security Fund deposited in the bank is "shrinking".　　With the balance of Social Security Fund more and more, some scholars have called for increasing the investment channels of Social Security Fund to realize the value of Social Security Fund, the Ministry of Social Security is also studying the development of social Insurance fund, especially the Endowment Insurance Fund operation Method, Social Security fund market operation will consider the experience of Enterprise annuity operation Focus only 10% migrant workers to participate in pension insurance although the number of migrant workers to participate in the pension is increasing, but compared with the huge total amount of migrant workers to participate in pension insurance only more than 10%. According to the bulletin, the total number of rural migrant workers in the 2009 was 229.78 million people, of which there were 145.33 million migrant workers.　　At the end of the year, the number of migrant workers enrolled in basic endowment insurance was 26.47 million, an increase of 2.31 million people. 2009 China began to pilot new rural social endowment insurance system, at the end of the year to participate in rural endowment Insurance number of 86.91 million people, compared to the end of the last 30.96 million people. A total of 15.56 million farmers received pensions throughout the year, an increase of 10.44 million from the previous year.　　A total of 7.6 billion dollars a year, an increase of 33.8% from last year.　　It is noteworthy that the rural Endowment Insurance fund balances far higher than the payment, according to the bulletin, the year-end Rural Endowment Insurance fund accumulated balance of 68.1 billion yuan.　　The number of social security cards up to more than 70 million as the important work of social Insurance information "Golden Insurance Project", the first phase of construction is basically completed. As at the end of 2009, the national human resources and social security departments have already established data centers in varying degrees, and all 32 provincial-level units have achieved centralData Center network connectivity, there are 89.1% of the level of the city to achieve with the Provincial data center networking, the metropolitan area Network has been linked to 89.3% of social insurance agencies and employment service agencies, and extended to the streets, communities, towns and designated medical services institutions.　　As Social security key social Security card, the bulletin shows that more than 130 regions have issued a social security card in line with the national standard, the actual number of card holders more than 70 million people. Newspaper reporter Yang Huayun