Study On Demand And Tax Incentives Of China’s Commercial Pension Insurance

Population aging has attracted the attention of the world. At present, developed countries have stepped into the aging society, and some developing countries are being or about to enter the aging society. Aging population in China started at the end of20th century, and had the character of "Aging-Before-Getting-Rich", which made a huge challenge to the "pay-as-you-go" insurance system. So the Social Planning with the Personal Account Combined came into being. Due to the defects of this system in design, there are pension fund gap in the transformation of pension insurance system, causing the plight of the pension insurance system running empty. With the deepening of population aging, the pension gap is growing. The flexible retirement put forward by The Ministry of Human Resources and Social Security of the People’s Republic of China will be an inevitable trend. The government also emphasizes more on citizen self-support ability.Traditional family pension has been unable to meet the pension needs, and the government’s social pension insurance can only meet the basic life needs after people retire. So pension has been an important problem that people face. Population aging in China has the character of "Aging-Before-Getting-Rich", and basic pension insurance has been in the state of income over expenditure for a long time. With the economics developing and closing to the well-off and harmonious society, people’s needs on material and cultural life will be enhancing. The need on commercial pension insurance will be certainly increased, too. In this context, it has great benefit to consumers, government and insurance companies if developing the commercial pension insurance in our country. For consumers, the commercial pension insurance can guarantee a better life after retiring. For government, it can reduce the government’s endowment burden. For insurance companies, it can realize the value of funds, and relieve the situation of long-term liabilities of the pension insurance.Through data collection and collation, the author found that there are few studies on the need of the commercial pension insurance of our country in the context of population aging. So this paper selects the commercial pension insurance requirements as an object of study, and analyses in empirical study, finally proposes the recommendations of implementing tax incentives of commercial pension insurance in our country.Firstly, in the context of population aging, the paper structures a liner regression model, which concludes that aging population is an important factor effecting the commercial pension insurance need of our residents. For the purpose of investigating the future needs of our residents for the commercial pension insurance, basing on Eviews, this paper concludes that the ratio of commercial pension insurance in residents’disposable income is increasing year by year by constructing a regression equation of it. From the above investigation, it can be summarized that the needs of commercial pension insurance are increasing in our country. However, it needs the government’s support because of its current development status. So in the end, the paper makes a suggestion of implementing tax treatments on it.The innovation of this paper is building a econometric model of the needs on the commercial pension insurance, and predicting that the needs of the residents of the commercial pension insurance is increasing in the future by using regression model in the population aging. The deficiency is the number of the selected samples is lower because of the difficulty in collecting data. Therefore, the accuracy of the model may not be high.