Sustainable Development Of China's Urban Pension Insurance And Institutional Building

The Three Pillars Elderly Support System, put forward by the Wordl Bank, which includes the public endowment insurance, enterprise complement endowment insurance and individual deposit endowment insurance, is the inexorable trend of global pension system reform in the 21 century, under the condition of global growing population aging and the expansion of public endowment insurance.Savings, insurance and redistribution of income have been functioned together by social endowment insurance and commercial pension insurance obviously, which are two essential planks in the elderly support system, in accordance with different insurance system in all the contries, assigning the origin of Old-Age Insurance System in the westenm contries.The analysis for old-age pension system in urban arears, including Social endowment insurance and commercial insurance, is based on the theory of social pension insurance theory in the western economics, aging population theory relevant to social pension insurance and the Theory of Sustainable Development and so on, from the view point of sustainable development.Since end of 1990s China has been entering the aging society. Aging problems have pressured China's economic paticually, which challenge to sustainable development of the elderly support system in China. As a result, the urgent task on hand was to reform and improve the elderly support system as so as to continue sustainable development. Presently, the three pillars of eldery suppory system has been initially established in China, including primary endowment insurance, enterprise annuity and individual commercial pension, which is in the form of pay-as-you-go system and full funding system compatible. However, there are still plenty of shortcomings in our current elderly support system, such as fair, efficiency and sustainable development.As a result, the urgent task on hand was to implement regulatory measures, such as developing commercial pension vigorously, improving primary endowment insurance continuously and develop the capital markets vigorously in order to make the elderly support system sustainable and copy with aging population, which is the need of Economic-socio Coordination Development of China.