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Fund surplus points to pension security

By Hou Liqiang and Zhang Yue | China Daily | Updated: 2017-06-24 07:44

China is capable of paying pensioners on time, despite deficits in the endowment insurance funds in some provinces and the pressure brought by a quickly aging population, social security authorities said.

From January to May this year, the endowment insurance funds for enterprise employees received 1.58 trillion yuan ($231 billion), up by 23.9 percent year-on-year, while the expenditure stood at 1.35 trillion yuan, an increase of 23.2 percent, according to a statement released by the Ministry of Human Resources and Social Security late on Thursday.

The surplus of the funds had reached 4.08 trillion yuan by May.

Fund surplus points to pension security

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