Study Of China's Basic Old-age Insurance Coverage Issues

The narrow coverage of Old-age insurance is China's social security system is a long-term outstanding contradiction, which is also the main problem of old-age insurance system reform. The faster aging population in China increases the operation burden of old-age insurance. At the same time, with the adjustment of industrial structure and employment patterns, the needs of new employment group for old-age insurance are urgent. In this paper, methods of historical analysis and comparison, combined with literature research, qualitative analysis, etc. are adopted to analyze basic information of China's old-age insurance coverage. Drawing on foreign experiences, expounding the necessity and feasibility of getting the non-formal employment groups into the old-age insurance coverage, the author explores the status quo of old-age insurance of China's non-formal employment group through empirical analysis, and on this basis, proposes the measures and policy proposals to expand the basic Old-age insurance coverage.This article first introduces the meaning of old-age insurance coverage, gives an overview of our old-age insurance coverage development, analyzes the current problems and the causes influencing coverage, and argues that under new circumstances, workers of the private enterprise, flexible employees, urban migrant workers, and other non-formal employment groups should be brought into the basic old-age insurance coverage. By analyzing the old-age insurance coverage development in the foreign-developed and developing countries, the author provides reference on how to expand of China's old-age insurance coverage; explains the necessity of expanding old-age insurance coverage from the perspective of socio-economic development, self-employment groups, and the sustainability of old-age insurance; and analyzes the feasibility of expansion of old-age insurance coverage from the perspective of perfecting the legal system as well as public policy choice. A large number of detailed and accurate data and evidence are used to analyze Jinan City status quo of old-age insurance coverage. The paper emphasizes the high rate of deposit in private enterprises, peasant workers'old-age insurance and portability, the program continued disruption of laid-off workers and peasants. Some suggestions are presented to expand the Old-age insurance coverage: no uniform set of national compulsory retirement age; retirement age corresponds to a relatively treatment, exceed the legal age to receive full pension should correspond to a higher old-age treatment; for migrant workers the hierarchical, progressive fee system design. At last, the author puts forward an old-age insurance system with the characteristic of multi-pillar diversified promoting by the professional status, low-gate threshold and wide coverage, flexible and sustainable payment policy, and proposed a method to expand the coverage countermeasures based on national pension system of basis old-age insurance.