The Effect Of Inflation To The Gap Of Personal Account Pension Fund And The Empirical Analysis Of The Effect

Since China's basic old-age insurance personal accounts adopt total -fund-system, thus creating the natural shortcomings of "personal account system ": the accumulation under the "personal accounts" is very clear, but the future level of the personal pension insurance is unclear. In such circumstances, if we can not grasp the magnitude and level of future price changes, it is very difficult to ensure the "gold content" that retired workers receive. On the other hand, inflation risk is bound to happen, unpredictable and difficult to control in a market economy, making the majority of the old-age pension fund which can not escape the declining doom in real value, and making the Government carry a heavy burden. So inflation has become the problem we can not ignore and must ofen vigilance. Previously, since China's basic old-age insurance personal accounts are serious "empty account". Therefore, the inflation risk is long-term neglected by the theoretical circles, in recent years, countries stepped up pace to make personal account fund reality , in the complete elimination of embezzlement case ,China's basic old-age insurance personal accounts will soon be a very large accumulation of fund assets. Therefore, the agencies in charge of social endowment insurance fund must concern the problem: they must fully study the changes in inflation and the degree of infulence to social endowment insurance, ensure that the living standards of retirees will not be reduced because of inflation.In this paper, from the wage growth and interest rates maintained two angles in-depth analysis the impact mechanism of inflation on the personal account pension fund , using the actuarial theory to establish the model of pension fund gap which inflation infulences the personal account, based on this, from China's realistic situation seting the necessary parameters of the model, and analysis the gap practically, the paper concludes:inflation and personal accounts fund gap was reverse changes. The accumulated system of personal accounts can resist the expected inflation risk, not be good to resist unexpected inflation risk. Finally, raised several solutions that the accumulated system of personal account can not withstand the unpredictable inflation after retirement.