Research On The Replacement Rate Of Pension Insurance In China

With the development of economy and the improvement of living standards, thepopulation aging in our country more and more deeply in the degree and theacceleration of development in the state. To make the old peoplecan affordthemselves, old people have a somewhat in the major problem is social security, andpromote social and economic development, maintain social stability of the importantway. Only guarantee of standard of pension replacement rate to maintain the retiredworker normal life. After30yearsof Reform and opening up, the system of socialendowment insurance from set up to gradually perfect experienced transposed,adjustment of stage, the result that the "old man","human" and "the newcomer" onthe replacement rate in pension fault, go against the development of the social securitysystem. In addition, the pension replacement rate affect endowment insurance fund isalso an important factor in their balance of payments, replacement rate is lowerpension spending less, the features of the fund balance, but bad for the elderly lifesafeguard; Conversely, replacement rate is too high fund spending more, to enterpriseand worker bring overweight pressure.Endowment insurance target rate ofsubstitution level has been the focus of the scholars dispute, some scholars think thecurrent high rate substitution caused fund waste, should be reduced; And somescholars from the economic development, the price level, wage growth analysis offactors, measure the worker is in after the emeritus to maintain normal life level,pension replacement rate should be40%or more, to60%for the mind level.Thisarticle is from this difference, based on the theory of fairness and efficiency,endowment insurance actuarial theory, based on the theory of life cycle, the thoroughanalysis of China endowment insurance rate of substitution reform course, set upthree basic model and the influence factors of replacement rate target to measure andanalyze; in the end the author puts forward the should improve the endowmentinsurance payment rate and raising the retirement age, establish multiple levelendowment insurance system countermeasures.This paper is divided into five parts. The first part is the introduction. Mainlydiscusses the purpose of this study and significance, the domestic and foreign research review, innovations and inadequate. The second part is the endowment insurancereplacement rate related concepts and theoretical basis. This chapter introducesdetailed pension insurance system, endowment insurance replacement rate and otherbasic concept, and using the endowment insurance system and the endowmentinsurance rate substitution aspects of the theory. The third part and the fourth part isthe focus of this article and the core. The third part using three kinds of payment ratemodel to measure and analyze the influence factors of the replacement rate, and basedon this, the fourth part replacement rate of mind for feasibility analysis, and points outthat China has the ability to pay60%of the pension replacement rate, and it issafeguard level of a somewhat older patients economic guarantee. The fifth part areput forward for the realization of endowment insurance touching the replacement rateway and policy Suggestions.