Research On Transferring Part Of The State-owned Capital Of Local Governments To Enriching Social Security Funds

Under the background of intensified development of population aging,the payment gap for pension insurance has gradually expanded.Transferring part of the state-owned capital to enrich social security funds will help balance the long-term income and expenditure of the basic pension insurance system.Why do local state capitals need to be transferred?On the one hand,this is driven by the general trend of policy development from the incremental allocation of listed state-owned capital that has undergone the "transfer" and "reduction" stages to the direct transfer of the stock transfer of central and local state-owned capital.On the other hand,transferring some local state-owned assets are conducive to raising the financial sustainability of basic pension insurance and promoting the reform and development of local state-owned enterprises.This is an objective reality.The local state-owned capital in Fujian Province has the conditions for transfer.On the macro level,there is a better industrial structure,and the higher economic development speed lays the economic foundation.Under such an economic environment,the number of state-owned enterprises in Fujian Province has increased rapidly,and the scale of assets and capital profits have continued to accumulate.Fujian Province has operating conditions to transfer part of the state-owned capital to enrich the "supply side"of social security funds.At the same time,the income of basic pension insurance in Fujian Province continues to increase.And its light institutional support rate and historical debt have left room for determining the future transfer plan of state-owned capital.However,the transfer of state-owned capital to enrich social security funds in Fujian province is also facing difficulties and challenges.The accelerating development of aging,the pressure of huge payment demands in the future,and dispersive state-owned assets that lack of integration do not dominate in Fujian where the private economy is the absolute economy subject.And the quantity and quality that can be transferred are not optimistic.At the same time,the transfer of local state-owned assets is also a matter of crossing the river by feeling stones.When determining the transfer plan of the local state-owned capital,it will be faced with some specific operational issues.It's difficult to unify the level of transfer,determine the target of the transfer.And complicate transfer procedures,contraction between the fixing and dynamic adjusting of transfer ratio,establishment of the main undertaking body,difficulties in management after the transfer matters too.In the face of various difficulties,when formulating provincial transfer plans,the provinces that are similar to Fujian Province with lower historical debts and better basic pension insurance financial status,should identify the transfer targets for the future gaps,prioritize the transfer of provincial state-owned capital,transfer the local state-owned capital after its classification and integration.Taking into account the efficiency and fairness,the transfer ratio should not be set too high,but it should be dynamically adjusted on the basis of 10%,both the state-owned assets of the city and the province should be directly transferred to the provincial social security funds which take charge of the state-owned capital.