The Guangzhou Local Tax Bureau (GLTB) collected RMB 25.38 billion in pension funds from January to November this year, breaking the RMB 25 billion mark and representing an increase of RMB 5.367 billion or 26.82% annually.

This amount accounts for 47.47% of total pension funds collected by tax authorities province-wide, with a payment rate of 97.42%, exceeding the 95% target set by the Provincial Government.

GLTB's success in securing the payment of pension funds can be attributed to the following efforts:

I. Steady improvement of the administrative system for the collection of pension funds, intensification of the administration of fund sources, establishment of a mechanism which allows the tax authority to link pension fund payment to tax payment, and vigorous supervision of pension fund payers.

II. Proactive co-operation with the pension department in expanding pension fund collection and ensuring timely payment of pension funds into the account.

III. Setup of a task force charged with recovering nonpayment of pension funds, and the allocation of greater resources for the recovery of nonpayment. From January to November this year, GLTB recovered nonpayment amounting to RMB 147 million from 160,600 payers.

Editor: Yan