The Hunan provincial government has become the latest authority to reveal the loss of millions of yuan in pension funds, following the corruption scandals in Shanghai and Guangzhou.
The province said it had recovered 71 million yuan of the lost funds, without giving a figure for total losses. It said that last year alone it had recovered 10 million yuan, local media reported yesterday.
The provincial labour and social security department last year received 888 cases about pension fund complaints, with 847 investigated, the Sanxiang Metropolis Daily reported yesterday.
It said a special investigation team had been formed to look into the complaints. The team found that about 10.95 million yuan was embezzled last year, of which 10.35 million yuan had been recovered.
Last year, a total of 524,400 people joined the province's pension fund, contributing 10.5 billion yuan, Hunan authorities said.
The labour department estimated that more than 400,000 people in the province would join the fund this year as the insurance net had expanded to cover medical expenses, industrial injuries, childbirth and unemployment.
But repeated pension fund scandals have raised public concern on the supervision of the funds.
