On June 26, the latest work report from the National Audit Office revealed unbelievable chaos in local government finances.
In 25 provinces, 4.14 trillion yuan in pension funds were found to have a 60.1 billion yuan shortfall!
Even more shocking: 13 provinces brazenly took 40.6 billion yuan in pension funds to fill local debts, pay salaries, and maintain operations!
When I saw these numbers, the aunties were still anxiously waiting for the 2025 pension adjustment plan. It turns out that our pensions have long been targeted, no, they have been misappropriated!
Look at how they are gnawing at our pensions:
1. Magical Archives
In 25 provinces, 28,300 employees retired early through false medical records, altered files, and other means, taking 519 million yuan in pension funds.
An employee’s file in the Puxian County CDC in Shanxi was altered in 14 places, creating the absurd record of “working at age 1 and retiring at age 22,” receiving 690,000 yuan in pension while still receiving a salary from a new employer.
2. Withholding of Agricultural Subsidies
16 provinces and 175 counties withheld 4.164 billion yuan in agricultural subsidies, using this part of the funds to repay debts and pay salaries to public officials.
Picture: Lv, the former director of the Finance Office of Shizi Township, Dangchang County, Gansu Province, fabricated information for more than 80 farming households since 2018, forged signatures to falsely claim subsidies of more than 4 million yuan, which were used for gambling and other personal extravagance.
3. Intermediaries Bribing and Illegally Handling Insurance Enrollment
An intermediary in Acheng District, Harbin City, Heilongjiang Province, bribed 4 public officials for a long time, illegally handling insurance enrollment for at least 271 people, with an estimated loss of 115 million yuan in pension fund expenditure.
4. Local “Small Policies”
22 provinces did not promptly clear up those local “small policies” that do not comply with national unified regulations, directly causing the pension insurance fund to spend an extra 18.753 billion yuan.
9 provinces have set up 16 subsidies such as “heating allowance,” which have absorbed 16.7 billion yuan in 3 years;
20 provinces stuffed 260,000 people with connections into the pension system, costing an extra 5.9 billion yuan.
Local governments are justified: “We are diverting money to ensure salaries, operations, and people’s livelihood!”
What, isn’t the pension part of people’s livelihood?
“Taking from Peter to pay Paul,” you are taking from the load-bearing walls of the common people’s homes.
Professor Zheng Bingwen, director of the World Social Security Research Center of the Chinese Academy of Social Sciences, stated in the new “China Pension Actuarial Report 2025-2060” that the basic old-age insurance for urban employees will be unable to cover its expenses in 2044.
On the one hand, delaying retirement and encouraging childbirth, and on the other hand, there are termites gnawing at the pension fund pool. How can we get through these days?
The audit department found the problem in time, but the problem has not been solved.
Last year, the county government was found to have misappropriated funds for rural children’s nutrition meals, and this year it is misappropriating the elderly’s pension. They really haven’t let go of the young or the old.
40.6 billion yuan, these are not cold numbers, but the hopes of ordinary people in their later years.
We work hard all our lives, and when we get old, we just want to be secure. Is this request too much?
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