Analysis Of Basic Old-age Insurance Fund Balance Prediction And Policy

Old-age insurance is the outcome of modern society, which plays an important role in social security system. As the basic life backing of retirees, basic old-age insurance fund has gained lots of attention for its ability to accumulate, to increase the value and its effective management. We are now in an aging society, nder the impact of the aging of the population, that how to maintain the old-age insurance fund balance is an important problem we should face. With the general development of socialist market economic system, a sound social security system has increasingly related to overall situation of reform, development and stability. Perfecting old-age insurance system and guarantee on-time and in-full old-age insurance payments for the retired is especially urgent. As an old industrial base, Liao Ning province, which is a pilot site of strengthening old-age insurance personal accounts (PSSAs), is now transferring from old PAYGO system to a new system taking integrating social pooling with individual accounts as a pattern. Old-age insurance fund balance means Old-age insurance revenue and expenditure are basically balanced in total. Keeping the fund balance and strictly control the fund deficit is the inherent requirement of ensuring the total old-age insurance fund balance of supply and demand, and the prerequisite for ensuring a sustained, coordinated and stable development of old-age insurance.Therefore, we should keep the balance of revenue and expenditure on every budget level. For the heavy burden caused by old-age insurance, financial capacity is severely tested. During the transferring period from old to new, it is necessary to evaluate the accumulated indebtedness resulting from old system and the way of apportion、transferring cost、fund gap and long-term paying ability and so on under new system. It provides a basis for establishing sustainable and stable old-age insurance system to use actuarial method to calculate the cost and indebtedness in different kinds of risk and to forecast old-age insurance balance of payment, which is a basic way of ensuring financial management fine and scientific. In order to ensure the sound development of old-age insurance, we should make providence and scientific Rational decision develop the new way of reformation launch a Multi-Pronged Strategy、establish sustainable developing old-age insurance mode. According to the aged trend of population in Liao Ning province, we can establish long term old-age insurance payment prediction scheme; analysis old-age insurance paying ability of Liao Ning province; put forward reformation scheme and policy proposal.