Research On Pension System Of Germany

Nowadays, pension system is one of the most important items in the world Social Security system. And with the development of society, pension issues also have increasingly become one of hot topics of concern in academia. As western countries earlier entered the stage of industrialization and urbanization, they also established the pension system earlier. Now, most of countries have been building three-pillars retirement system--- old age pension,enterprise pension and private pension.Germany is one of the first countries which established a social security system in the world, it has a relatively comprehensive social security system, and almost covering all aspects of national life. Germany's pension system not only has adequate funding but also full of deep humanistic care, so it is labeled the reputation of "the most generous" pension system. Germany has three funding sources to protect retirees maintain a decent standard of living-legal pension insurance, enterprise pension insurance and Private pension insurance. So research on pension system of Germany would be a great reference value for the reform and development of China's pension system.This article consists of six parts, four chapters. The introduction discusses the origin of the topic and also draws an overview on the situation and significance of pension system around the world. At the same time, it provides the western country pension system theories. Chapter 1 introduces the development process of pension system in Germany, including establishment background and historical evolution of the system. Chapter 2 describes the element and feature of pension system in Germany. Chapter 3 uses four standards-profitability,coverage,persistent and flexibility to evaluate the effectiveness of Germany pension system. Chapter 4 relates to the Chinese pension system, including its current situation and problems, and according to the experience of Germany, proposed some policy recommendations. The conclusion makes a final summary and conclusion.