23 May 2019

Social insurance fund income seen up 14.8%, Xinhua says

The Ministry of Human Resources and Social Security said it expects the social insurance fund income from five insurance schemes to grow 14.8 percent to 3.32 trillion yuan (US$547.408 billion) this year from 2012, while expenses are likely up 21 percent at 2.68 trillion yuan, Xinhua news agency reported Thursday, citing Minister Wen Weimin {尹蔚民}. The number of participants in the basic annuity scheme is expected to increase by 16.18 million to 320.45 million people by the end of the year, and those under the basic medical plan will grow by 31.59 million to 568 million. Meanwhile, those in the unemployment protection plan will rise by 11.35 million to 163.6 million, occupational injury plan up 7.9 million at 198 million, and pregnancy protection up 8.71 million at 163 million, the report said.

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