Beijing Urban Study For The Aged Insurance Insecurity

Recent years the problem of providing the no pension insurance elderly in cities gainswider concern from the government as well as society. Some provinces have provided tosome extend the “uninsured” elderly with pension credit. However, the form of pensionin different provinces varies, the standard of pension also has a little differences. Currently,the Beijing municipal pension benefit covers the uninsured elderly people. For those whomeet the age requirement, everyone can get230Yuan in each month. The standard is low.Therefore, the question is urgent and important in establishing and perfecting the agedsecurity system that studying how to improve the “uninsured” people’s income incondition with the limited finance as well as adjust the no pension elderly endowmentinsurance policy standards.This paper comes up with a new institution which combines personal wages withgovernment subsidy. We make the income and expenditure of no pension elderlyendowment insurance policy in Beijing as the objectives. The main summary is asfollowed: firstly, establishing population actuarial model which is based on census data andpopulation Actuarial Science, and estimating the population by age and gender in the nextdecade. Secondly, creating income and expenditure model of Beijing’s no pension elderlyendowment insurance policy respectively, based on population data which is estimatedabove and the multi-disciplinary approach including actuarial and mathematical statistics,and getting the data of pension income and expenditure the ten years later. In addition,doing a large number of policy simulation to the income and expenditure of pension,according to undertake ratio, payment rate and the age of receiving pension payment.Finally, the conclusion is that the institution mentioned above is stable in actual operationand of high value. The no pension insurance old man’s income will increase dramaticallyif the government raises the subsidy appropriately.