Actuarial Research Of The Financial Sustainability Of The Basic Pension Insurance For Urban Workers

At this stage, the basic pension insurance system for urban workers in China, combined with "social pooling and individual accounts "model. The mode of such a system, how we could guarantee its financial sustainability (ie, not the balance of payments gap) was particularly critical.Research to the financial sustainability of the basic pension insurance for urban workers was still in its infancy, one of the few research literature was mainly concentrated in the following two aspects:firstly, the financial sustainability of theoretical discussion. Mainly referred to the whole of China within the scope of the overall level of qualitative analysis, but less theoretical study of the specific provinces and cities; Secondly, the financial sustainability of empirical research. Mainly referred to mathematical statistics of the balance of payments gap, but less scientific and effective actuarial theory to empirical research; More importantly, quantitative estimates of domestic and foreign scholars on the financial sustainability planning program of the basic pension insurance for urban workers were minimal.Aiming at the research status, considering China’s various provinces and cities of basic pension insurance for urban workers and the strategic position of Xinjiang Province, we used normative analysis and empirical analysis to carry out a detailed actuarial analysis on the financial sustainability of the basic pension insurance for urban workers:Chapter one, introduction about the background and significance of the research, literature reviews and innovation and defects;Chapter two, meaning, characteristics and system mode of the basic pension insurance for urban workers;Chapter three, meaning and focus of the financial sustainability of the basic pension insurance for urban workers;Chapter four, actuarial analysis for the financial sustainability of the basic pension insurance for urban workers;Chapter five, discussion about the financial sustainability of the basic pension insurance for urban workers in Xinjiang Province;Chapter six, policy ideas and recommendations about the basic pension insurance for urban workers in Xinjiang Province;Our innovation was mainly about four aspects:the model, parameter index, empirical thinking and empirical object. Among them, the use of actuarial tools to create financial sustainability planning model, initially filled the blank of domestic and foreign scholars’ research in this field, with strong originality; the other hand, in model, we used not only traditional parameters, but also the urbanization rate, the actual employment rate as well as the retired-population crude death rate, and also used actuarial techniques of different ages and genders, so that the calculation accuracy was higher; In addition, our empirical idea could be used in the social security risk management among countries with economies in transition and developing countries, also had a higher reference to the promotional value.