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The author:(作者)qqpublished in(发表于) 2014/6/26 8:00:48 The National Audit Office： 3-year investment of Social Security Fund lost nearly 7 billion
Beijing, June 25, according to the National Audit Office's Web site, released today by the Audit Commission funds management of the social insurance fund and the 2013 budget performance and other financial income and expenditure audit results. Announcements, Fund proprietary index investment benchmark index narrow, poor investment returns in recent years. From 2010 to 2013, proprietary indexation of social security fund investment portfolio losses totaling 6.953 billion yuan, including 2013 annual loss of 1.47 billion yuan. In addition, the end of 2013, without complying with the provisions of the social security fund to 6 switched into Hong Kong stock provision for preparing bans expire, less impairment losses 10.302 billion yuan.
Announcements full text:
Fund management of the social insurance fund and the 2013 budget performance and other financial income and expenditure audit results
According to the People's Republic of China audit provisions of the Act from December 2013 March 2014, the Audit Commission of the National Council for Social Security Fund (hereinafter referred to as the social security Foundation) funds management and its 2013 budget performance and other financial income and expenses audits were conducted, and related matters was extended auditing.
A basic condition
(A) the basic situation of the national social security fund management operations.
By the end of 2013, the social security fund manages funds with total assets of 12 41.564 billion yuan, liabilities of 48.819 billion yuan, equity 11 92.745 billion yuan. Fund interests, interests of Fund 991.102 billion yuan, accounting for 83.09%; personal account interest 92.193 billion yuan, Guangdong trust funds equity 109.45 billion yuan, 7.73% and 9.18% respectively. In 2013, the Fund's investment income of 68.587 billion yuan, yielding 6.2%.
Interest 991.102 billion of the national social security fund, Central Government budget net dial-600.026 billion yuan, accounted for 60.54%, value added investment of 391.076 billion yuan, accounted for more than 39.46%.
(B) Social Security Fund budget to perform basic case.
Social Security Fund budget unit at the Central Government level, departmental budget level by the Social Security Fund budget. 2013-Department of the Treasury approved the Social Security Fund funding budget expenditures for 12 8.0462 million, the social security fund accounts (draft) reflects funding of current year expenditures 12 665,500 Yuan, their departmental budgets and the results of the implementation differences amounted to 7.3807 million Yuan, the circumstances and causes of the differences see table 1.
This audit Fund fiscal year 2013 funding amounts to 12 8.0462 million, 100% per cent of total sector funding expenditures. Audit identified problems in budget implementation is not consistent with the financial regulations the amount of 3.0119 million Yuan, all those issues. These issues on the national social security fund in 2013-budget performance results, as illustrated in Schedule 2.
Audit findings indicate that the Fund will continue to strengthen the internal system, standardize the investment management, the Fund is relatively safe, total value added value; 2013 annual budget over the budget on budget and other financial regulations, financial management and accounting in accordance with accounting Act and related accounting regulations, audit identified problems, carry on the rectification of previous fiscal year.
Second, the audit found that problems
(A) the Fund management operations.
1. the main problems in the social security funds management of trust and investment business.
(1) Audit testing 15 projects that use trust loans found 6 items sections does not specify use of trust funds, with a value of 1.42 billion yuan (total loans 24%), is used mainly to lending projects outside a contract or restitution of the Trust Bank loans, municipal infrastructure, land consolidation, foreign lending and so on;
(2) in 2013, liuan city construction investment company received 1 billion yuan in social security funds trust loans, used for construction of the 3 projects, 2 projects of the building area exceeds the range of qualification of contractors, the social security fund in carrying out due diligence and loan approval is not pointed out.
2. the main problems in the social security fund in such deposits periodically.
(1) partial agreement deposit processing is not standard. March 2011 late, social security fund will and BOC, and perfect, and AC line, and Societe Generale four home Bank reached fixed rates deposits agreement, in Bank hike Hou social security fund deposits agreement still maintained original agreed rates; 2012 3 to April between, social security fund will and BOC, and ABC, and livelihood three home Bank reached fixed rates deposits agreement, in Bank June cut Hou three home Bank proposed cut requirements, social security fund will adjustable low has BOC 6 billion yuan, and ABC 2.5 billion yuan of 5 years period agreement deposits rates, Decrease in interest income of 165 million dollars;
(2) in 2013, the Fund will reduce its h share Hong Kong dollar funding for income not arrange or settlement, the Hong Kong dollar deposit due to the decline in Hong Kong dollar exchange rate foreign exchange loss of 92.8797 million Yuan;
(3) in 2013, the Fund will fund the Ministry of finance to study and formulate agreements deposit scheme, by making bad decisions, resulting in less interest of 3.8 million dollars.
3. proprietary indexation of social security fund investment in a narrower range of underlying index, poor investment returns in recent years. In recent years, shares market structure increasingly diversified, marked of index number and the open stock index type public raised Fund products market scale are and Social Security Fund will initial investment index of products Shi has larger differences, while, social security fund will has has through purchased market Shang of index of Fund or through commissioned investment, way investment index of products of conditions, but its still to proprietary way for index of investment. From 2010 to 2013, proprietary indexation of social security fund investment portfolio losses totaling 6.953 billion yuan, including 2013 annual loss of 1.47 billion yuan. In addition, the end of 2013, without complying with the provisions of the social security fund to 6 switched into Hong Kong stock provision for preparing bans expire, less impairment losses 10.302 billion yuan.
(B) budget performance and other financial income and expenses.
1.2013 years, through multiple units firm number, Dosen led and 2012-2013 assistance funds performance-related bonus amounted to 1.2442 million Yuan.
2.2013, vehicle running costs exceeding budgetary expenditures 247,000 yuan, accounting for budget 50.41%.
3.2013, on behalf of the employee benefits, illegal granting of benefits in kind benefits 1.5207 million Yuan.
Three, audits and recommendations
On the above issues, the Audit Commission audit reports have been issued according to law. Audit finding related to alleged violation of matters has been transferred to the relevant departments for further investigation and treatment. Multiple question and performance bonuses of the declarer, called for the strengthening of budgetary management, and report the facts declared budgeting; vehicle runs over budget spending, called for the strengthening of management, strict use of funds in the budget scale; irregular granting of benefits in kind benefits questions, demands the strict implementation of the relevant provisions, regulate the allowance subsidy management.
According to the audit found problems, and recommendations of the Audit Commission: study on the social security fund will be trust loan project of building a market-oriented, open and transparent selection procedures, raise the level of investment and management, clear rights, responsibilities, and processes of interest, explore the establishment of a deposit with the tender system, progressive indexation investments take the form of investment, and establish a regulatory system, the establishment of a unified information management platform for investment.
Four, the audit found that problems of rectification
The audit found problems, being organized for rectification of the Social Security Fund, which reorganizes the results announced to the public by the social security Foundation.
(Original title: National Audit Office: social security fund investment loss of 2010-2013 6.953 billion)
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