Funding Guarantees for the Modern Pension Security System

Abstract

The pension security fund refers to the pension insurance premium collected from workers and employing entities or the fund concentrated from the direct financial expenditures of the government according to law that are then used to meet workers’ basic living needs after they retire. Currently, China’s pension security fund mainly consists of the social coordination fund and personal account fund of the basic pension insurance, the national social security fund as well as other supplementary pension insurance funds such as the enterprise annuity.