China’s pension funds stable, sufficient for 17.3 months
China’s social security fund is stable overall despite deficits in certain places, said You Jun, vice minister of Human Resources and Social Security at a press conference on Monday.
The total social security fund — which consists of five major social security insurance programs, including medical and unemployment — stood at nearly 7.6 trillion yuan at the end of last year, compared with 6.6 trillion yuan in 2016 and 5.9 trillion yuan in 2015.
Pension funds drew 3.27 trillion yuan in revenue in 2017 while gross expenditure hit 2.86 trillion, creating a balance of 418.7 billion yuan, You said.
Read More: ECNS
