根据《中国社会保险发展年度报告2015》显示，全国城镇职工与城乡居民养老保险累计结余近4万亿元。

　　Issued by the Institute of Social Security Research, Ministry of Human Resources and Social Security, the report shows that the return rate of enterprise employees' pension insurance fund reached 3.1 percent, the highest in seven years.

　　由人社部社会保险事业管理中心近日发布的这项报告显示，企业职工养老保险基金的收益率达到3.1%，创6年来新高。

　　The report also shows that despite the rising pension insurance balance since 2012, the payable number of months fell to 17.7 months last year from 19.7 months in 2012.

　　报告还显示，2012年以来，企业养老保险累计结余虽不断扩大，但可支付月数由2012年的19.7个月下降至2015年的17.7个月。

　　2015年我国养老保险结余近4万亿元

　　More provinces are falling in situations where the pension fund cannot cover the expenditures. As one of six provinces with the problem last year, Heilongjiang's enterprises pension can only pay up to one month.

　　养老保险基金收不抵支的省份正在增多。作为去年养老保险基金入不敷出的6个省份之一，黑龙江的企业养老保险可支付月数最多仅为1个月。

　　Yang Yansui, director of the School of Public Policy And Management at Tsinghua University, said the four-trillion-pension balance was mostly in personal accounts, while the pay-as-you-go pension system was greatly challenged by dependency ratio.

　　清华大学公共管理学院主任杨燕绥表示，这4万亿元养老金结余很多都在个人账户里面，现收现付的养老保险制度遇到了抚养比的挑战。

　　"When the actual dependency ratio of pension insurance gets down to three to one, the payment cannot be lower than 17 percent. If it drops to two to one ratio, it means that everyone is going to pay 25 percent. The financial burden gets heavier when the dependency ratio gets lower. The restructuring of pension system must be finalized in two years." Yang said.

　　杨燕绥主任说道：“养老保险实际抚养比到了3：1的时候，养老保险的费率就不能低于17%，如果降到2：1，每个人就得承担25%，抚养比越低，个人承担就越来越重。两年内必须解决养老金制度的转型。”

　　To make sure the plan goes through, the central government must reinforce the plan to co-ordinate basic pension, enhance enterprise annuity and manage personal accounts properly, Yang said.

　　杨燕绥说道，为确保该计划顺利进行，中央政府必须夯实统筹基础养老金，做大职业年金，管好个人账户。