Research On The Payment Balance Of Pension Insurance In China

The basic pension insurance is the center of social security system in China, also one of the most commonly concerned social problems. The current mixed pension system combines social pooling and personal accounts. This pattern is theoretically ideal, can overcome the flaw with pay-as-you-go which is unable to deal with old age and pension fund system which is without redistribution function. But the Chinese practice did not prove this superiority in recent years. The basic pension system is facing payment crisis at present. Thus it is of great practical significance to analyze the problem theoretically and with exemplifications. This thesis analyzes the influencing factors of the unbalance of pension payment through data recorded in recent years, brings up corresponding countermeasures on the basis of national conditions. Pension insurance is important part of the social security system that contributes to reduce the population-aging risk and provides regular supports for senior citizens. At present the whole world is facing the increasingly common and serious pension fund financial crisis. This system also shows fragility in our country. Since 1996 basic pension fund starts to have deficits in the minority regions. Since 1998 the national average fund can not manage to meet its end, and this tendency aggravates and molests more provinces. To guarantee the fund's safe operation, China injects more financial supports to subsidize the pension fund, the accumulated amount from 1998 to 2003 reaches 190 billion Yuan, in 2003 it is 53 billion Yuan. Without the financial subsidy, all pension fund accumulated in previous years would be used up. Obviously our country's basic pension insurance system is being on the verge of collapse. The influencing factors of pension payment unbalance includes: the irregulation in wages management, the hike of pension payment, the heavy individual burden from personal account, the high system switching cost and the low anticipated efficiency, which caused high cost and directly aggravated the present burden and intensified the unbalance.