Official: Pension fund not in the red

Minister of human resources says balance more than 2.3 trillion yuan

A top social security official confirmed on Thursday there is no shortfall in the country's pensions for enterprise retirees, two days after Premier Wen Jiabao vowed to raise such funding by a further 10 percent this year.

"I can assure you responsibly that there is no gap in the pension fund for enterprise retirees. The accumulated balance exceeds 2.3 trillion yuan ($371 billion)," said Yin Weimin, minister of human resources and social security.