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Pension Insurance Fund Income Protection Mechanism And Its Operating Model Innovation Research

Posted on:2006-10-06Degree:DoctorType:Dissertation
Country:ChinaCandidate:Z Z LinFull Text:PDF
GTID:1116360155960727Subject:Population, resource and environmental economics
Abstract/Summary:PDF Full Text Request
This text is based on economics theories of endowment insurance, through using and expanding" Samuelson overlapping-generations model ", analyzed that the pension system of our country is influenced and threatened by the population transition of our country and economic development reform , pointed out that our country's present pension system reform is facing conspicuous contradiction and problem of four following respects in: (1)pension fund system reform and economic transition in no- harmony cause personal account empty ; (2)System design has defects , the government has shifted the transition cost to a certain extent, cause enterprise don't like to pay the pension fund because of pursuing of profit maximize; (3)pension fund operation at present influence the operation of new system to a certain extent too; (4)annuity at starting stage is not enough as supplement to offer for basic endowment insurance also. Article adopts and probes into the reason of above-mentioned problems, think: Aggravation of aging population process make basic pension system exposed " empty account " of running at present, " disasters pile up on one another " for such questions as transition cost , recessive debt and pension shortfall ,etc, under the situation aggravated day by day in aging population, will face more serious financial predicament and payment crisis in current pension fund system; The key to the reform of pension fund system of our country lies in how to deal with the relation between "plan as a whole" pension fund account and personal account, how to tackle reality and potential pension payment problem; In a situation that it is impossible to raising the pension rate at present, must design and set up the mechanism of the guaranteed yield for pension fund, in order to realize the value preserving and appreciation of the pension fund so to deal with the payment crisis brought by aging population. On the basis of the above, this text provides the answer of solving above-mentioned problems and carries on the supplementary measure of fund mode reform of pension funds and relevant policy recommendations. The main conclusion of this text is as follows:First, solve the transition cost problem in the pension system reform, "plan as a whole" account of the endowment insurance should not be only born by enterprise,but born together by the government and enterprise.Second, "plan as a whole" account should separate from personal account, "plan as a whole" account partly fund operation and personal account full fund operation mode. Because face the challenge of aging population, so pension system reform of our country must carry on as soon as possible, "plan as a whole" account only offers the transitional pension of " old man " and " middle man ", the personal account offers the basic pension of " new man " and " middleman ". Fund mode should be the reality choose and inevitable outcome for our country basic pension system reform.Thirdly, set up risk categorized income security mechanism based on the defined benefit and defined contribution systen.—"plan as a whole" account make some minimum income security mechanism and promise personal account fund income security mechanism. The security mechanism goal should be base on the premise that pay the fees basically and the basic income is reciprocated, control the investment risk of the pension fund, in order to obtain the higher investment return. While carrying on the income security mechanism design of the pension fund, must fully consider the special circumstances of our country, classify designing. Particularly, the pension fund income security mechanism of our country should include two major parts : "plan as a whole" account income security mechanism and personal account fund income security mechanism. There are some minimum income security mechanism in "plan as a whole" account, no matter in what case, individual can all get the minimum pension income ; Under the personal account fund income security mechanism , the enterprise is a sponsor of the fund, enterprises sign the minimum pension income contract with government and promise the contract. Namely no matter how the fund runs, individual can get the pension that is not smaller than minimum pension income after retiring; Meanwhile, when the fund investment return is greater than, the excess part will belong to enterprise. While carry on risk pension fund income security mechanism design demonstration with real example getting following two conclusion of deriving: (l)under fund mode system, Endowment insurance pay rate closely related with assets and investment repayment ,etc. Under other parameter certain terms, paying rate and assets allocation changed in the same direction; The higher the proportion of risk...
Keywords/Search Tags:pension insurance system, pension payment, risk categorize, income security mechanism, pension fund operation.
PDF Full Text Request
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