国发（1995）6号
（March 1， 1995）
颁布日期：19950301 　实施日期：19950301 　颁布单位：国务院

　　Since the issuance of the Decision of the State Council on the Reform of the Old-Age Insurance System for Employees of Enterprises， the reform of the old-age insurance system for employees of enterprises is being enthusiastically carried out in each region and department concerned. Some achievements have been made in such matters as expanding the coverage¹ of insurance， instituting a system of payment of premiums² by employees themselves， and conducting tests on combining the collection of insurance funds from society with that of individual accounts. The reform has played an important role in safeguarding the basic living standards of retired³ veteran cadres and retired workers of enterprises， maintaining the stability of society and promoting the development of the economy. But， as this reform is still in the exploratory stage， the current system of the old-age insurance for employees of enterprises cannot yet meet the requirements for the establishment of the socialist⁴ market economic system； thus， a deepening of reform is required for the next step. Pursuant to the spirit of the Decision of the Central Committee of the Chinese Communist Party on Matters Concerning the Establishment of the Socialist Market Economic System， and to investigation⁵， research and the opinion of the general public， a circular is hereby issued concerning matters of deepening the reform of the old-age insurance system for employees of enterprises：

　　1. The aim of the reform of the old-age insurance system for employees of enterprises is to， by the end of the century， basically establish an old-age insurance system which will meet the requirements of the socialist market economic system， which will apply to the employees of enterprises of all kinds and individual laborers⁷ in cities and towns， have multiple financial resources and categories of insurance， combine a collection of insurance funds from society with individual accounts， balance the rights with the obligations and adopt socialized management and service. Basic old-age insurance shall gradually establish unified⁸ rules and unified standards for all kinds of enterprises and laborers， and management and regulation of the insurance funds shall be done in a centralized manner.

　　2. The principle of deepening the reform of the old-age insurance system for employees of enterprises shall be to adapt the level of insurance to the development level of the social productive forces in our country as well as to the affordability⁹ of different sectors¹⁰， combine the mutual¹¹ assistance of society with individual insurance， and equality with efficiency， carry out unified policies and institute a legal system for management， and separate the administration of insurance from the management of insurance funds.

　　3. Premiums for basic old-age insurance shall be paid by enterprises and individuals together， and an overall collection of insurance funds from society shall be combined with individual accounts. Based on sorting out the distribution relations and speeding up the pace of paying individual income in the forms of salaries and wages and paying salaries and wages in the form of money， the proportion of payment by the individuals shall be gradually increased. The extent for such increases shall be determined¹² by the people's governments of the provinces， autonomous¹³ regions and municipalities directly under the Central Government， in the light of the increases in salaries and wages of employees and other circumstances in the respective regions. Two measures for the implementation¹⁴ of combining an overall collection of insurance funds from society with individual accounts have been formulated¹⁵ to suit the different circumstances in the different regions. Prefectures and municipalities （not including municipalities at the county level） shall make reports on their choice of them for the approval of the people's governments of the provinces and autonomous regions directly under the Central Government； for municipalities directly under the Central Government， its people's government shall make such a choice， to be filed with the Ministry¹⁶ of Labor⁶. Each region may， in the light of its actual conditions， make modifications¹⁷ and supplementations to the two measures.

　　4. Each region shall institute a mechanism¹⁸ for the normal adjustment of basic old-age pensions in order to safeguard the basic lifestyles of retired veteran cadres and retired workers of enterprises. Basic old-age pensions may be adjusted in proportion to the increased rate of the last year's average wages and salaries of employees in the respective regions. The specific measures shall be formulated under the guidance of the state policies by the people's government of the provinces， autonomous regions and municipalities directly under the Central Government.

　　5. In addition to instituting basic old-age insurance to safeguard the basic lifestyles of retired veteran cadres and retired workers， the state shall encourage the institution of supplementary¹⁹ old-age insurance programs in enterprises and individual old-age insurance programs in the form of savings²⁰ accounts. After paying premiums for basic old-age insurance as prescribed， enterprises may， under the guidance of state policies and in the light of their economic results， set up supplementary old-age insurance programs for employees. Enterprises and individuals will select the institutions for management of supplementary old-age insurance in enterprises and individual old-age insurance in the form of savings accounts.

　　6. Each region should understand fully²¹ that the reform of the old-age insurance system is a major matter involving long-term considerations. Thought should be given to the practical situation in our country： that the level of productive forces is relatively²² low， the population is large and the problem of an aging society is becoming more pressing day by day. Attention should be paid to all interests， including those of the state， enterprises and individuals， and to immediate²³ interests as well as to long-term interests. Then， depending on ample surveys， calculations， arguments and proofs， comprehensive arrangements can be made in such matters as the proportion of payment of old-age insurance premiums by enterprises to that by individuals， the standards for distributing old-age pensions and the accumulation rate of insurance funds. Strict control shall be maintained over the proportion of payment of basic old-age insurance premiums and the level of distribution of basic old-age pensions so as to lighten the loads of the state and enterprises.

　　7. Budget administrative²⁴ and financial accounting²⁵ systems for basic old-age insurance funds shall be instituted and strengthened in accordance with relevant state stipulations. It is necessary to properly arrange basic affairs such as records of payments and individual accounts， strictly²⁶ control the withdrawal²⁷ and usage of management expenses， and adhere to the principle of special purpose funds. Funds management should conscientiously²⁸ be handled so as to ensure the safety of funds and to achieve the hedging and appreciation²⁹ of the funds. At present， about 80 percent of the balance of the old-age insurance funds after the payment of a full two months' expenses should be used to purchase special bonds issued by the state to fixed³⁰ investors³¹. No organization or individual may determine other uses for the funds without authorization³². The proceeds derived³³ from the old-age insurance funds shall be thrown into the funds as a whole and shall be exempt³⁴ from taxes and fees.

　　8. Each region and department concerned should actively³⁵ create conditions to expand the extent of socialized management and service for old-age insurance. Distribution of old-age pensions by social organizations should gradually be adopted to supersede³⁶ distribution by respective enterprises. Regions with sound technical conditions and work bases may adopt direct distribution by banks or post offices， and regions not meeting the requirements at present may distribute pensions through institutions in charge of social insurance. These institutions may also establish agencies in large enterprises or use other methods to provide management and services for retired veteran cadres and retired workers of enterprises. Moreover， the initiative of different quarters should be fully brought into play in order to gradually transform the administration by enterprises of retired veteran cadres and retired workers into administration which depends upon communities. Thus， the level of socialized management of insurance should be heightened to conscientiously lighten the load of enterprises.

　　9. It is necessary to establish a system in which the administration of social insurance is separated from the management of insurance funds and the enforcement institutions are separated from the supervisory institutions. The principal tasks of the administrative department for social insurance are formulation of policies and plans and strengthening supervision³⁷ and guidance. The management of social insurance funds is under the scope of duties of The institutions in charge of social insurance. Each region and department concerned should establish a supervisory committee on social insurance composed of a government representative（s）， an enterprise representative（s）， a labor union representative（s） and a representative（s） of retired veteran cadres and retired workers. This committee would have the purpose of strengthening the supervision of the enforcement of policies and regulations concerning social insurance and funds management.

　　10. Enterprises which， with approval of the State Council， participate in the overall planning of old-age insurance funds directly organized by departments or organizations under the State Council shall make reforms pursuant to the principle of combining the overall planning of insurance funds from society with individual accounts while retaining the overall plans organized by their responsible departments or organizations under the State Council.

　　11. The Ministry of Labor shall be responsible for the guidance and supervision of the nationwide task of establish in gold-age insurance for employees in urban enterprises， and for giving an impulse to deepen the reform thereof. The State Commission for Restructuring the Economy should take an active part in the reform. It may choose localities for experimenting with deepening the reform， and should receive vigorous support from the Ministry of Labor. The State Planning Commission， the State Commission of Economic Relations and Trade， the Ministry of Finance， the People's Bank of China and other relevant departments should， within their respective scopes of power and duties， take co-ordinate and supporting activities to make the furthering of reform successful.

　　Deepening the reform of the old-age insurance system for employees of enterprises is a task of great importance， which is reflected in the goals of perfecting the social insurance system and promoting the reform， development and stability of our country. Each region and department concerned should pay great attention to this task， conscientiously organize to carry it out and make an active and steady effort to seek practical results. New circumstances and problems found in the course of the reform should be earnestly and promptly³⁸ studied and resolved and major problems should be reported without delay.