Study Of China's Enterprise Annuity System

Population ageing is a pervasive global phenomenon.It has profound implications for social life, especially the old-age insurance system which the government has to establish.To cope with the ageing problems, governments around the world construct the old-age insurance system generally by basic old-age insurance, enterprise pension and individual saving old-age insurance.Enterprise pension, or supplementary old-age pension in an enterprise, even"occupational pension","superannuation fund"in foreign countries, is to describe the payments an employee receives upon retirement, beyond public pension or state pension and under the guidance of state policy, which is calculated upon its financial conditions.As an important component of old-age insurance system, it is of great importance to the development of social insurance system to establish and improve enterprise pension.Our country enterprise annuity since the 1990s, just start, has nearly 20 years of development history.Enterprise annuity in ease of primary endowment insurance pay pressure, improve and enhance the worker is retired treatment level, enhance the cohesive affinity of the enterprise and competitiveness, promote the rapid development of China's financial market is increasingly the function of government, enterprises and worker recognition.But our country enterprise annuity in a relatively short time, the development is not balanced, market coverage is still very low, needs government, enterprise and worker various efforts, promoting the healthy and orderly, truly realize the coordinated development of the important function of the second pillar.Chapter 1 introduces the situation of enterprise annuity system. Defines the definition and nature of enterprise pension, followed by the characteristics of pension system in China.Chapter 2 introduces the evolution of pension system in developed countries, such as the United States, Australia and Japan, about their experience and advanced institution. It can also shed light on China's practice on pension.Chapter 3 elaborates on the development and status in quo of pension system in China.The author summarizes the problems of Chinese enterprise ension market as follow:low overage;unbalanced development across districts and industries; low substitution rate and earning rate. After the analysis, the author finds that the reason lies in four aspects: government, market, enterprise and employee.In Chapter 4, the author proposes the countermeasure and suggestion to improve Chinese enterprise pension system in the following ways. On the government level: More importance should be attached to laws and regulations. The substitution rate of basic old-age insurance needs to be cut down. More preferential tax policy should be applied to enterprise pension.Supervision mechanism also has to be more efficient.On the market level: Supportive policy should be oriented to the development of capital market. Various investment tools are going to be utilized to set investment portfolio, to expand the investing channels, and to establish disclosure system of enterprise pension information.On enterprise level: Wage system needs to be further improved.The industrial association should play its role of collaborating various pensions to be popularized in medium-sized and small enterprises.Improve the system of workers' level of our country the factors such as enterprise annuity practitioners conduct qualification authentication, and expend policy of enterprise annuity forward two suggestions.The thesis might be of some help and reference to the development of enterprise pension system in China.