National-level management to better balance pension funds

OFFICIAL DATA show that in six provinces the social security paid by the working population is not enough to support the payments for retirees. Beijing News comments:

The number of provinces that suffer from a deficit in their pension funds has increased from four last year to six this year, and more provinces might face the problem in the coming year.

A look at the six provinces show that they have some common challenges. For example, all three provinces in Northeast China are on the list of provinces with a deficit, because they have too many State-owned enterprises that hired large numbers of retired workers who receive a full pension, although they did not pay social security until recent years.