The Research On Accumulated Fund System Of The Basic Endowment Insurance In China

After the 'silvery wave', the aging of population, appeared in the most of developed countries, it is spreading quickly through the developing countries. In China, this problem is more serious than others. In order to deal with this tough problem all over the world, China has set up the SP&IRA, a new accumulated fund system for the basic endowment insurance. In theory, this new accumulated fund system has the merits of both the pay-as-you-go system and the funded pooling system. So it should be a better accumulated fund system. But the result is not good enough when it is actually operated in China because it has lots of problems, many people query the SP&IRA and petition China government to take use of pay-as-you-go system or funded pooling system again. The statements about this problem will have a direct influence on setting up policies of the basic endowment insurance in China. Furthermore, it will influence the current and future living of retired workers.Aiming at the problems about the accumulated fund system of the basic endowment insurance in China, this dissertation systematically discusses it in both theoretical and practical ways, and points out that the SP&IRA is a good choice when the problem of aging of population is more serious and the scales of families become smaller increasingly in China, and that the problems appeared when the SP&IRA is operated should not be attributed to the formulating institutions but to the problems of operation. The causes of he problems are mainly as follows: first, the cost of the system changing is enormous; second, the China government has neglected its duty on undertaking this cost; third, the China's laws about the endowment insurance have not been set up; finally, the China government doesn't manage the endowment insurance system normally. Aiming directly at the problems of the SP&IRA and its causes, this dissertation put forward that China must take some steps to consummate the SP&IRA from both internal and external aspects, through using the experience of other countries for reference. Among the steps, the most important is that China should assume the responsibility for the enormous cost of the system changing. So this dissertation puts forward that China should establish a 'Fund' to pay for the cost, which has many advantages.