Research On The System Design Of China Enterprise Bonus Pension

The three pillar social security system encouraged by World Bank is applied in China including the social security,enterprise pension and private insurance annuity.The coverage of first pillar(social security)in China was reported to be high,more than 80%.However,the development of second and third pillar in China is not very well.As the third pillar,private insurance annuity has been marginalized.What's more,enterprise pension is facing narrow benefited range and unsatisfactory inclusiveness,which is is still unable to support the second pillar.As a result,it is absolutely essential to improve the second pillar as soon as possible.This paper puts forward a new theory-institutional hypothesis of labour capitalization according to the review and analysis of academic viewpoints on both the domestic and international experiences of labour capitalization.Based on the institution hypothesis of labour capitalization,we build China enterprise bonus pension system innovatively,which is paralleled with current enterprise pension.The retirement well-being will be strengthened by this new enterprise bonus pension.Moreover we focus on the system design of enterprise bonus pension.Firstly,through the comparative analysis of academic reviews of labour capitalization,we found that it is impossible to solve this labour capitalization problem from its own properties.Thus,this paper provides the definition,characteristics as well as the function of enterprise bonus pension.Secondly,we formulate a "double-tracks paralled" system combined with enterprise pension and enterprise bonus pension.A double-tracks paralled model runs successfully in Swiss,which could offer positive experience for our system design.Thirdly,we construct the feasibility study on implementation environment of enterprise bonus pension.First and foremost,analyzing the implementation environment of system demand from the following three aspects:theoretical support,practical experience and material conditions.Then,owing to the insufficiency of corporate dividends,it is necessary to improve the implementation environment of system supply on both software conditions and hardware conditions.Moreover,the operation of enterprise bonus pension should be protected by the top design of system.Finally,our system design of China enterprise bonus pension based on theoretical derivation and empirical analysis which is including regulation and contribution rate for trial implementation,strategy of fund management,as well as the mode for supervision system.Most important of all,this paper has proposed the mandatory scope of implementation,calculated the dividend rate of labour capitalization,and set contribution scheme of bonus pension.Secondly,it is necessary to choose management agencies of bonus pension fund based on trust management.Otherwise,according to the investment risk grading and ? management method,we have designed a progressive regressive two-way management expenses system.In the end,the special supervision organization model should be adopted to improve the efficiency of supervision in bonus pension.In conclusion,based on the Marx's theory of political economics and the "labour capitalization" hypothesis,this paper has put forward the research of enterprise bonus pension system,and discussed the implementation of necessity,possibility and operability.As a result,we think that the research on this issue has great meaning both in theory and reality,which is not only beneficial to realize the goal of "double-tracks paralled" system,but also help to strengthen the pension effect of the second pillar in China.