The Chinese Communist Party’s pension fund has been accused of serious deficits, and official rare disclosure of the chaotic situation of embezzlement, misappropriation, or fraud of pension funds. Among them, the personnel file of a worker at the Puxian County Center for Disease Control in Shanxi was tampered with, showing a record of “working at the age of 1 and retiring at the age of 22”, still successfully passing through layers of review to “retire”, while simultaneously receiving a total of 690,000 yuan in pension payments and working in a new position receiving compensation. Netizens angrily criticized, “Absolutely corrupt” and “The Chinese Communist Party is crumbling.”
According to information from the Chinese Communist Party Audit Office, the “Audit Report of the State Council on the 2024 Central Budget Execution and Audit of Other Financial Revenues and Expenditures” released by the Audit Office on the 24th disclosed the audit situation of key livelihood funds such as the pension insurance fund.
The Audit Report pointed out that the Audit Office audited a total of 4.14 trillion yuan of basic pension insurance funds for workers in enterprises, institutions, and rural and urban residents in 25 provinces, finding a total of 60.161 billion yuan in various problematic amounts. This includes issues involving 2.9743 million people from 23 provinces, such as difficulties for certain groups, flexible employment personnel, landless farmers, etc., facing problems like lapses in insurance coverage.
The report mentioned the misappropriation and embezzlement of 41.408 billion yuan. 13 provinces used 406.26 billion yuan of urban and rural resident pension funds for “three guarantees” expenditures, repayment of government debts, etc. 16 provinces and 90 intermediaries helped more than 20,000 individuals who did not meet the conditions for participation fraudulently enroll in insurance from 2009 to 2024, using fund losses as the cost in exchange for profits through methods such as fabricating labor contracts and arbitral awards.
A total of 28,300 workers in 25 provinces used methods such as providing false medical records or tampering with files to retire ahead of time and illegally claimed 519 million yuan in pension benefits. For example, the personnel file of a worker at the Puxian County Center for Disease Control in Shanxi had 14 areas of tampering, with the record of “working at the age of 1 and retiring at the age of 22” successfully passing through layers of review to “retire”, while simultaneously receiving a total of 690,000 yuan in pension payments and working in a new position receiving compensation.
Due to the Chinese Communist Party’s penchant for concealment, the above data may only be the tip of the iceberg.
Several mainland media outlets reported on the news of a disease control staff member working at the age of 1 and retiring at the age of 22, receiving 690,000 yuan, sparking heated discussions among netizens.
According to the Chinese Academy of Social Sciences “Chinese Pension Actuarial Report 2019-2050,” the cumulative balance of the national urban employee basic pension insurance fund is expected to reach a peak of 6.99 trillion yuan by 2027 and begin to decline thereafter, potentially depleting by 2035.