On The Question Of Implicit Pension Debt Based On The Government's Responsibility

With the peak of population-aging approaching, like many other countries in the world, China begins partial funds system reform in its old-age insurance system, from"cash payment"to"social overall plan and individual account", As a result, the implicit pension debts (IPD) come into being. As a kind of transformation cost, IPD scales huge and is like a"timing bomb"in insurance system. Whether this problem can be properly and promptly solved, affects the successful passing of the population-aging peak, as well as the stability of our society and the economical development.About the IPD problem, theorists always carries on their studies from the angle of government finance and fund safeguard, stressing on the government responsibility and function.As a result, the government undertook the responsibility of system design and business management, thus leading to great pressure of finance expenditure. The key to this problem lies in the rational understanding of degree of the responsibility or the ability that the government should undertake. The government should remold the social self- safeguard function, actively encourage the social enthusiasm, improve IPD management, integrate social resources, cultivate new responsibility body, and have the problem finally solved.Meanwhile, to solve the IPD problem, we need to establish a dynamic, many-faceted, and open repayment system, which regard insurance as basic principal. In this system, government plays leading role, other department supplement. Through the reorientation of government responsibility, reestablishing the government's responsibility space in pension insurance, developing new non-profit organization, making good use of the farmer labor sources to cultivate new responsibility body, and improving related laws and regulations, we can finally achieve the multi-channel solution of IPD problem.