| The concept of finance of people's livelihood is rooted in the people's livelihood. Namely, it is rooted in people's basic opportunities, basic abilities to develop and protection on basic rights as well as people's basic survival and living conditions. People's livelihood, as an economic problem, requires finance to guarantee the citizens'basic requirements on illness and death and other basic needs. People's livelihood, as a social and civil rights issues, requires finance to promote equal access to basic consumer. People's livelihood, as a political problem, demands the finance to increase the aggregate social welfare and to achieve ultimately comprehensive development of people. Therefore, the internal meaning of finance of people's livelihood includes three tiers. The first tier is the basic duty of people's livelihood focusing primarily on financial guarantee on citizens'basic living conditions, so as to ensure the realization of basic civil rights which is the basic meaning of the financial livelihood of the people. The second tier is to provide citizens with basic development opportunities and basic development capacity. The third tier is to promote the aggregate social welfare and to achieve citizens'comprehensive development. There is a progressive relationship between the three tiers, the realization of the previous one is a prerequisite for the implementation of the later one.Old-age security is one of important responsibilities of finance of people's livelihood defined by its connotations. Old-age security is characterized by its attribute of quasi-public, commonweal, highly equal and law-ruled, which is coordinated with the same characteristics of finance of people's livelihood. Therefore, to provide all citizens with old-age security as public goods is not only the result of deepened understanding and a practical breakthrough of the theory of finance of people's livelihood, but also an exact grasp to it. Finance of people's livelihood is the key point to deal with old-age security issues and it is a substantial foundation and basic means of the latter. Meanwhile old-age security is the internal motive to promote construction and improvement of people's livelihood and it becomes an important part and main objective of finance of people's livelihood.This paper is divided into seven chapters.The first chapter is an introduction section, which is an overview on the background, purpose and significance, literature review, research methods, innovative maybe and weaknesses of the paper. Deepened practice of public finance and dealing with the challenge of population aging form the main background of the research. Finance of people's livelihood results from the practice of public finance. In contemporary Chinese society, the main contradiction in the public field is citizens' growing demand on public goods and services and serious shortage of public goods and services supplied by public finance. The key to this contradiction lies in the establishment and improvement of finance of people's livelihood based on people's livelihood. Population aging is an inevitable result of social and economic development, which is one of symbols of civilization progress of human society and demographic reproduction. China has a huge and speedy growing aging population getting old before being rich which has put enormous pressure on its poor finance expenditure of the old age security. So, it is a particularly urgent task for China to speed up and improve old-age security system. There is an introduction of the researches on finance of people's livelihood and old-age security both at home and abroad respectively in the section of literature review. Foreign scholars haven't proposed explicitly the concept of finance of people's livelihood in their related research results. But their researches have a distinct character in the sense of China's finance of people's livelihood. Researches on finance of the people's livelihood have risen in China recent years concerning the connotation of finance of people's livelihood, the necessity of building people's livelihood as the core of public finance expenditure system and the relationship between public finance and finance of people's livelihood. It's impossible to summarize all the domestic and international literatures related on old-age security system. In general, however, both domestic and foreign scholars have their specialty in their research of old-age security system. Foreign scholars carry out a deepening research on governments' responsibilities and mode transitions of old-age security system. Domestic scholars pay more attention to the researches on publicity of old-age security system and the relationship between public finance and itself, old-age security system options, transition of old-age security system from pay-as-you-go to partial-funded and the establishment of a united old-age security system of urban and rural society, etc,. In this paper, issues of old-age security was studied in the perspective of how to establish and improve finance of people's livelihood which might be viewed as a different view with many current studies in the field for which there might be some theoretical and practical value to reveal the essence of old-age security as public goods and to establish finance of people's livelihood, which, to some degree, has innovative significance.Chapterâ…¡is about the fundamental theory of the relationship between finance and old-age security. Firstly this chapter defines the concept of people's livelihood and finance of people's livelihood, reveals the connotation of finance of people's livelihood, and then studies the core and expansion system of finance of people's livelihood and finally discusses the important role of old-age security in the finance of people's livelihood. People's livelihood implies people's basic living conditions as well as people's basic opportunities and basic capacities to achieve development and state of fundamental rights protected. People's livelihood is embodied itself as an economic issue first, then as a civil rights issue and as a political issue concerning its essence. Finance of people's livelihood aims to meet people's demand and other basic needs on their basic living conditions, promote basic consumption equal, improve the aggregate social welfare and, achieve a comprehensive development of the people in the end. Finance of people's livelihood is a kind of specific and deepened public finance. Finance of people's livelihood has a profound philosophical connotation with the spirit of times and with three tiers of attributes of hierarchy, development and immutability which are resulted from the attributes of people's livelihood respectively. Therefore, from a realistic point of view, finance of people's livelihood should focus on the field of education, employment, health care, retirement and housing finance which constitute the core of people's livelihood. After these basic livelihood issues solved with economic and social development, the harmonious development of man and nature, the comprehensive development.of man and society will become the emphases of finance of people's livelihood, which constitute the expansion system of finance of people's livelihood. Old-age security is an important part of finance of people's livelihood. On one hand, old-age security is an important responsibility of finance of people's livelihood. Old age security is coordinated with finance of people's livelihood in the nature of publicity, public interested, fairness and law-ruled. Therefore, it's a deepened understanding of public finance theory and a theoretical and practical breakthrough to provide the basic old-age security as public goods to all citizens. On the other hand, old-age security plays an important role in finance of people's livelihood. Concerning the social security expenditure, old age security expenditure accounts for the highest proportion and a higher proportion in the aggregate expenditure of finance. In the sense of China's social transformation, old-age security is the key to a successful transformation thus it's of great significance to construct and improve finance of people's livelihood.The third chapter is to review the history of China's urban and rural old-age security system in order to explore the cause of many problems of old-age security system. China's old-age security of urban-rural segmentation stems out of certain economic, social and political conditions and is affected by internal and external environment at that time. Nevertheless, China's urban old-age security system is still characterized by low and narrow coverage, depending on unit system and lack of standardized and stable system. During the Cultural Revolution, urban pension insurance system was in a stagnant, backward state, and even degenerated into a single enterprise pension insurance. After reform and opening up, economic construction becomes the major work all over China and old-age security is just viewed as a supporting measure to promote the reform of state-owned enterprises and not being included in the overall consideration and planning, which forces old-age security in a disadvantageous condition. Meanwhile, rural old-age security system has been absent for a long time. After entering the 21st century, China's rural social old-age security reform has been carried out since 2009 with the implementation of "the new rural social insurance system" as a pilot reform measure.There is an analysis in Chapter IV on the situations and the challenges faced by China's old-age security. It can be deduced that the challenges lie in the shortage of fairness and unity characterized by the urban-rural segmentation, geographical segmentation, and identity segmentation. In addition, we should attach importance to the issues of fund-raising and implicit debt. In China's old-age security system, the biggest problem is the shortage of unity and fairness and the biggest difficulty is the sharp contradiction between supply and demand of funds. Therefore it needs to put emphasis on rural farmers to build a national co-ordinated and universal coverage old-age security system with the core of urban and rural integration and the ultimate target of equal access to basic old-age security system.Chapter V introduces the international experience of old-age security for reference. Modern social security system is actually a process of pension coverage expanded, security level promoted, but also a process of problems accumulated. The developed countries represented by Europe and the United States with relatively perfect old-age security systems are the origion of modern old-age security system. As a developing country with a low security level, in the course of building and improving old-age security system, China might learn much from those countries esp. the ways to deal with relationship between government and market, to construct a diversified old-age security system, to build an appropriate level and scope of fund-raising, pension paying, security covering and to ensure the safety of funding.Some suggestions are proposed in Chapter VI concerning the construction of an equalized system of basic old-age security. The principles of "full coverage, basic coverage, flexible and sustainable," are proposed in this chapter. We should build an old-age security system of "integrated urban and rural areas, three-step in one" on the basis of improvement of the urban old-age security system. The establishment of urban and rural old-age security system is an inevitable choice as an important symbol of modern civilization with the pace of economic development. Now it's time to transfer China's old-age security system dominated by the cities into a national co-ordinated system with urban and rural integration. We should build old-age security system with urban and rural integration and achieve the goal in one leap based on consolidating individual accounts and improve the corporate pension system and the expansion of urban old-age security coverage. From a practical point of view, the path to unity is the most advantageous program with minimized cost of reform. Depending on powerful finance of people's livelihood we can accelerate the construction of old-age security system of urban and rural integration and, in turn, old-age security system can be used to construct and improve finance of people's livelihood.Chapterâ…¦is the summary. This paper argues that the construction and improvement of finance of people's livelihood is a necessary way to solve the problems of old-age security dilemma and meanwhile old-age security system plays an important role in building and improving finance of people's livelihood. China's social resources remain government-dominated, for which government is obliged to build old-age security system. Therefore, to accelerate the integration of old-age security system in urban and rural, the key is the constructing and improving of finance of people's livelihood, which is the main path and material foundation to solve old-age security problem. To build an old-age security system of universal coverage, we must co-ordinate our national financial resources at the macro level and keep the balance of the relationship between reform, development and stability. Meanwhile we must correctly handle the relationship between developed and backward areas to ensure the former to support the later while accelerate its own development. At the same time, we must have strategic thinking to change the means by which the government revenue collected and distributed into a pattern of people's livelihood-oriented so as to build and improve of finance of people's livelihood in response to the challenges of old-age security.
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