The Analysis Of Institution Of Liaoning Individual Basic Account Of Endowment Insurance

China’s pension institute have implemented the transtition from the pay-as-you-go system to the partial funding accumulation system in constant grope."Congenital defect" is left from the process and this kind of congenital implic debt leds that the individual accounts are carried out much more at the end, hence the government has gotta much more financial pressure. Since Liaoning Province start pilot from July2001, the facing of individual account’s carried out and the increasing pressure of the future pension payments’gap and the replyment of the challenges of the aging population crisis in Liaoning, it established the integrity social pension institute and costructed a diversity, multi-levels endowment insurance system with new mentality, however the most important to establish an endowment insurance system adapted to the demand of the time is making individual account, and if not making the individual account in time, the individual account are empty continue, then the payment capability that endowment insurance fund against future poplation aging for temporary peak will lose, and even the credibility of the new institute would undermine.In order to find the most suitable path and pattern, the writer compares the way of hypothetical to the other ways based on the actual operation of the individual pension account of national and Liaoning Province, we analysis the outstanding problems, the main demand and urgent task in the personal accounts through case studies after we fully applied individual pension accounts of national and Liaoning Province. Reference toother scholars ideas and suggestions through literature reading, we provide the Policy Proposals for improving the performance of the personal accounts pension system of Liaoning Province. The writer deal with the data on site visits through the way of content analysis and historical comparative analysis; using the way of univariate descriptive statistics to analyze the survey data, summarizing the characteristics, experiences and lessons of the individual pension account system in Liaoning Province, to provide a theoretical basis for futher study.Through the above reseach methods mentioned, the writer conclud that the current individual account of Liaoning Province pension exists certain risk. Firstly, China’s social endowment insurance system starts later and it haven’t accumulated before establishing the institute of combination of social pooling and individual account and in recent year economic fluctuate by a large margin and the inflation rate grow incresingly, leds that insured persons doubt with the pension institute and the number of insured persons decline continuously. In addition, the deepen unceasing aging degree makes the combination account of social pooling and individual account of each province take much more payment pressure, consequently most of the region have to divert the individual account fund. For the reasons, the huge "empty account" risk have been emerged. Furthermore, the management authority of individul account fund operation is also exiting huge risks. Since the government is the only authority manage the individuan account fund and its low tranparency, it provide engouth oppuntunity to divert the individual account fund to fill with the empty. Secondly, Liaoning Province didn’t treat definitively the responsibility of history debt. Although Liaoning Province maked the individual account, they still not treated definitively the responsibility of history debt. Besides the history debt were not measured and definitive strictly, the reform did not define clearly how to divide the history debt bewteen the central and local government or government and enterprise yet. Thirdly, the risk of the individual account depreciation is very huge. Currently there are only two investment channels of Liaoning Province endowment insurance individual account fund:bank deposit and treasury bonds. Since the return rate of the two investment channels is very low and inflation rate keep at high levels in recent year, individual account fund face the rick of depreciation. The black holes of individual account "empty account" will also expand faster and even many regions pay pension on time that is very difficult, and it has come to the extent that cann’t deviate from the financial subsidies, it increases government pressure virtually. Fourthly, the legal lag from tax collection and the refusal collection phenomenon from the process of authority collection influence on the timly and fully insurance premium collection.In conllection with the above risks, the paper brings up that integratethe principal and increase the sense of responsibility in individual accounts, promote changes of government in the social endowment insurance system, promulgate supporting policies to further expand the coverage of basic insurance system; promote the reform of the pension insurance system of government departments and institutions; set up a public oversight mechanism making the separation of power for money. For the Individual pension account management, expand the investment scope of the real part of personal accounts, which can refer to the social security fund:put individual accounts into the market, the majority of funds for low-risk fixed-income way, a small part is used to stock high-risk and high return way higher yield, making money with money, to further reduce the number of empty individual account. In addition, according to actual condition, extend employee retirement age, relieve pressure of pension payment, and broaden sources of income and reduce expenditure. The central treasury can also issue the speial treasury bonds designed for endowment insurance fund, on the one hand, to solve the hedging problem of pension funds; on the other hand to regulate macroeconomy according to the situation of economic and social development and finance and basic endowment insurance fund financial. Through improving operation supervision of individual account pension fund, and dividing the current endowment insurance agency orgnazation into two types of functional department:deparment of money management; deparment of accounting management, to achieve the money and account separate management in system, and to realize check and balance and mutual supervision. Strengthen the internal control, and all levels social insurance agency set up and complete the internal audit system, and integrate the the internal supervision mechanism of fund management. Establishing individual account inquiry system and enhancing the transparency which make the individual account endowment insurance can accept social supervison, complaints and prosecution.