The Research On System Reform Of Pension At Institutions

As a major ingredient of the social security system, social insurance, with pension system being its centre, is receiving greater attention in recent years. At present China's pension is facing an unprecedented challenge because of the country's pressing aging problem and the deepening of its economic reform. This paper takes a Ningbo perspective and makes an empirical study on the current mechanism through which institutions in Ningbo carries out their pension. The paper compares different regulations within the system and combines theories and practices in the hope of providing suggestions for people working in this area. In addition, it also makes some tentative attempts in researching a better pension mechanism at institutions within the context of China.This paper begins with a definition of the pension system at institutions along with an account of relevant theories and backgrounds. It then discusses the merits and demerits of various pension systems through an analysis of the current scenario of this field both in China and abroad. Such a comparative study leads to the recognition of the weaknesses of various systems and above all, successful modes and practices in foreign countries are identified and they may provide help for a better pension system at the given institutions in China. The paper also carries out an empirical research based on the pension system at Ningbo's institutions. After a review on the ten-year history of pension at Ningbo's institutions, the research addresses key issues in this area to find problems that go hand in hand with the system since its birth in Ningbo. In conclusion, the paper reviews the success stories in foreign countries again and offers a number of countermeasures for a better pension at institutions. They include: improve social insurance laws and regulations for a truly fair, efficient and healthy pension system at the concerned institutions; enforce relevant laws to the fullest extent to protect legal rights and interests of the insured people; establish an incentive mechanism that connects payment and pensioners' welfare and make institutions better aware of the necessity of abiding by relevant laws; encourage the insured party to check their payment premiums on a regular basis; extend smoothly the old pension system to the new one, and develop necessary mechanisms to make the pension itself keeping trait.