Study On The Universal Basic Old Age Insurance System

The paper analyses the disadvantages and the deficiencies of the basic old age insurance. The paper has proposed a national coherent social old age insurance system - a new system which combines the universal basic old age insurance and private account. That using universal old age pension takes the place of the basic part of the universal basic age insurance and the independent running of the private account should be protected, thus the purpose of the separation between the universal account and private account can be achieved. The paper has also proposed that using the universal pension to provide the basic old age insurance for the aged peasants can make the rural social old age insurance system feasible and perfect.The paper has put most attention on the economic feasible analysis of the establishment of the universal basic old age insurance system. The paper first introduces the necessity of the universal basic old age insurance system, then gives a basic introduction of the statement of the actualization of the universal basic old age insurance system in our country and foreign countries and gets some lesions, experiences and conclusion of the system. The author suggested that the system is necessary and the insurance standard should not be too high in our country-the feasible standard is that everyone can get the benefit of the lowest life standard of the universal pension. Then the paper makes a detail introduction of the context and characters and accounting of the funds that the system need -using the data in Qinghai Province to give a positive analysis.At last, the paper suggests the basic framework of the system and some problems in the establishment of the system. As a result, the paper provides feasibility of the system in theory and practice.