Research On The Development Of China's Employers' Pension

The employers'pension is one of the most important components of in the multi-hierarchy of the pension system. The more seriousness of the world ageing and the expenditure on the social security---especially on pensions make many countries and nations on the way of reforms. As the second pillar of the social security system, the employers'pension has become the focus of the governments and the scholars.The employers'pension is the voluntary complementary income security held by the employers for their staff besides the compulsory basic pension insurance system held by the government. The employers hold the plan to satisfy the needs of the operation and the development of their enterprises under the guidance of the government policies. The employers'pension system is of great significance in that it concerns the interest of the government, the enterprise and the staff. But from the studies and research both home and abroad, it is easily seen that most of the studies are just nothing but the question-suggestion, namely, the focus of the studies is to find out as many practical questions as possible and then to put forth some suggestions. This type of research is to some extent of practical importance, but the theoretical analysis, especially the theoretical analyses in the economic sense, is on the disadvantageous end. So, this dissertation is to conduct an initial probe into the operation and the economic effect of China's employers'pension system.This dissertation consists of eight chapters. The first chapter is the introduction, mainly the introduction to the background the importance of this selected theme, the research methods, the mainstream of the studies as well as the breakthroughs of this dissertation.The second chapter is the comprehensive illustration and explanations about the current research in the field of employers'pension system, the types of the employers'pension and the positive effects on the pension insurance. The third chapter gives a brief description of the current state of China's employers'pension, the total amount of the pension fund, the distribution of the fund and the problems in the course of its development. The author also points out the necessity and urgency of developing the employers'pension system in China.The fourth chapter mainly focuses on the tax privileges for the employers'pension and the relations between tax privilege and the income distribution. The author analyzes the employers'pension from three successive aspects: the cost-profit comparison, the choice of the tax system and the problems of the tax equality. First, the author analyzes the current situation of the tax privilege of the employers'pension and the bad effects that the tax policies have exerted. It is safe to say that the tax privileges for the employers'pension are positive in reducing the social cost from the non-tax privileges. Then by using effect-salary model, the author does a research into the dynamics of the tax privileges in enhancing the economic growth. On the basis of the estimation about the pension substitute rate, the author draws the conclusion that generally speaking, the reduction of the expenditure of the tax privilege is much less than that of the income, the result of which is that the government benefits from the policy. So it is easy to see that the government has great enthusiasm about the practice of the employers'pension. In this part, the author also conducts a probe into the modes of the tax privilege, which shows that the EET mode is both theoretical and practical for operation, and it has been widely adopted in many countries and nations. It is rational for China to adopt the EET mode as it enables the government to reduce the cost from the intervention. Meanwhile, to ensure the sound development and mature of the employers'pension system in China, laws and regulations concerned are to be established and improved.The fifth chapter deals with the equality and differentiations of the employers'pension system. The very first part in this chapter is the introduction to the inequality of the employers'pension as well as the fairness and the efficiency of the tax revenue. The key point is that the tax privileges have some effects on social fairness, and the constructive suggestions and proposals are raised to solve the problems in the social equality. As far as the equality of the tax privileges is concerned, the author puts forwards a series of policy suggestions in reference to the problems that have occurred in China and the experience that were provided by foreign countries.The sixth chapter is to analyze the investment management of the employers'pension. In this part, the author starts with the targets and the principles of the investment so as to summarize the investment features of the employers'pension. Meanwhile, by combining the trust system and the investment management of the employers'pension, the author advances the alternations of the trust-oriented employers'pension system and the lessons and experience for the investment management.The seventh chapter is about the monitoring system for the employers'pension. The main respects are the financial feature of the employers'pension and the purpose of the monitoring under the light of two theoretical bases: the public interest theory and the public alternation theory, and in the last part of this chapter, the author reveals the choice of the monitoring mode and the tendency of its development.The eighth chapter is the part where conclusions and summary are drawn so as to provide some constructive proposals to the operation and development of China's employers'pension system.Armed with the principle of combining various methods in the research, the author adopts such scientific ways as the systemic analyses, the historical research, comparative analyses, the combinations of the abstract and the concrete, the theoretical and practical elements, etc.. By the initial probes into the employers'pension system, a definite conclusion follows: in China, the operation of the employers'pension system has no time to wait; it is desirable that the system become a beneficial complement to the basic pension insurance system in China, which betters our social security system in the long run.