( The decision on the reform and development of State - Owned Enterprises adopted at the 4th Plenum of the 15th CPC Central Committee on September 22, 1999)

    Speeding up the building of the social security system is an important prerequisite for a smooth implementation of the State-owned enterprise reform. The social security services such as endowment, unemployment and medical insurance should cover people of a wider range, and State-owned township enterprises, collectively-owned enterprises, overseas-funded ventures and private businesses and their employees should all take part in the social security program, and hand in insurance premium.

    The collection of social insurance premium should be stepped up, and measures should be taken to collect the defaulted premiums to ensure a timely and full payment of the retirement pensions. A unified management plan of retirement pension funds at the province-level should be further improved, and multiple measures such as selling off some State assets and readjusting the fiscal spending structure should be taken to expand new fund-raising channels for social security program and replenish the social security funds.

    Social insurance funds should be strictly managed, supervision should be strengthened on such management and no funds should be used for other purposes than insurance payments to ensure the safety and increment in value of the funds.

    Provision of social insurance should be gradually socialized. Retirees should leave the enterprises, receive retirement pensions at social service agencies and be managed by communities instead of enterprises. Veteran enterprise officials should receive due political and life treatment after retirement and should be provided with management and service.