Pension System In The Context Of Aging

As of the end of2011,in China the age of60or older aging population has reached184.99millions, accounted for total population reached13.7%,is up0.4%than2010.It isestimated that in2020aging population will reach240millions, account for17.17%oftotal population, in2050, aging population will excess400millions, the level of aging willadvance to over30%.In the coming two to three decades, in China rural area, peak of aging population willcome with serious aging and declining birthrate. Under the aging population background,the sustainable development of pension security system in China will face new constraints.Premium default, empty account operation of personal account, dependency ratio andsubstitution rate be both high, retirement ahead of time and imperfection of capital marketand financial market under current economy condition, which will make pension securitysystem sink into financial crisis, moreover, the low coverage of pension security, the lowlevel of plan as a whole and management system confusion, which will make thesustainable development of pension security be restrained. At present, pension securitysystem is in state of disequilibrium, the constant game of government, beneficiary and lossof interest party under the current pension security system are the underlying reasonswhich lead to the disequilibrium state persist.In this paper, by using comparative analysis method, literature analysis method,normative analysis method and empirical analysis method, through the analysis oncharacteristic of aging society and current pension security system in China, pointed outthe running status and the problems and defects of pension security in running in Chinaaging society，meanwhile, combined with China domestic features and the experience offoreign countries on pension security system construction, putted forward that throughperfecting the social basic pension, make great effort in developing and supplementingreform plan of pension.Through the research and analysis, the author think that we should hold three keyfacts to improve our national pension system, The first fact is that building the personalaccount of town dwellers in short term to ensure that pension funds is sufficient to pay outat the peak aging time. The second fact is that consummating basic pension system at rural district and enhancing the pension fund spay out standard. The third fact is that the newpension policy should come out as the core to encourage and support the developing ofcorporate and personal annuity so that both annuity becomes important supplement of thenational pension funds.