On The Establishment And Improvement Of Chinese Characteristics, Social Endowment Insurance System

With the aging of population and the deepening of economic reform, the existing pension insurance system of China is confronted with challenges. Therefore, it is very important to reform and improve the system. This thesis makes a systematic analysis of the system and gives suggestions on how to solve the current difficulties and problems. The thesis includes five chapters: Chapter One reviews the history of the pension insurance system. The model and feature of the system are analyzed. Ways of reform are discussed. Challenges are explained. AS a result, this chapter lays foundation of the whole thesis. In Chapter Two, the thesis argues that China should establish and improve the pension insurance system in th~ light of the objective reality of China. It is suggested that reference should be taken from overseas successful model. The author points out that a diversified and multi-layered pension insurance system should be developed soon. Chapter Three , devotes significant attention to the mechanism of the system. It discusses four questions: fund-raising, fund management arid supervision, how to pay for pensions as well as how to set up community service for the aged. The author believes that China must shifi from a pay-as-you-go system to a partial funding system. The thesis also probes into the balancing, investing and managing of insurance funds. The chapter points out that the social pooling funds and individual account funds should be managed in different ways according to their characters In the future, the level of social poling funds should be raised progressively and the budgetary management should be excised. As for individual account funds, they should have free access to market as the capital market gets more developed. Chapter Four deals with the structural reform of the manage system. Firstly, the manage system of some foreign countries is introduced. Secondly, the problems of China抯 manage system are discussed. Finally, the author emphasizes the importance of manage system structural reform to pension insurance development. Chapter Five talks about the building of legal frameworks. A whole set of regulation and law guarantee system should be established. At the same time, law enforcement should be strengthened.