A Study On The Mechanism Of Pension Risk Resolving From The Perspective Of Public - Private Partnership

After entering the development period of the National Twelfth Five-year Plan, the old-age support risk of the elderly has aroused increasingly concerns and attention from the whole society with the deepening of aging population in China. The old-age support risk refers to the possibility and uncertainty of adverse effects on individuals, families and society that an individual causes after he or she enters the old age due to declining life quality and exacerbated survival risk caused by changes of physical and mental conditions and the lack of basic livelihood protection. Risk factors, risk accidents and losses of the old-age support risk jointly determine the existence, generation and development of it. Main features of the old-age support risk not only include general characteristics of risk, such as objectivity, loss and uncertainty, but also include the predictability, sociality and political nature. Its main content includes four main aspects: the decline of physiological function in the elderly, the decrease in the level of income, the disconnect of social life and the occurrence of accidents. The old-age support risk has double hazards of individuality and sociality, and it affects extensively and influences profoundly, therefore, the elimination of the old-age support risk has become a hot issue which needs to be faced with both in theoretical research and practical operation. To effectively mitigate the risk, it is significant and inevitable to establish the cooperation mechanism of risk elimination with public-private partnership.Based on the multidisciplinary theoretical support of polycentric governance theory, the theory of corporatism and the theory of cooperation benefit, this paper has started from the essence of public-private partnership, and deeply discussed the functional and operational mechanism of public-private partnership, then believed the establishment of public-private partnership has its realistic possibility and inevitability. This paper has built the institutional framework of the public-private partnership from social trust mechanism, information sharing mechanism and supervision and restraint mechanism, and conducted detailed analysis and demonstration of the functional mechanism of its elimination to the specific old-age support risks. By refining and summarizing practical experience of the old-age risks elimination in the UK, Germany, Japan and other developed countries, the author has held that the construction of China’s old-age support risk elimination cooperation mechanism should combine fairness with efficiency, regards standardization and differentiation as basic principles, further highlight key elements including main responsibility apportionment, reasonable cohesion of systems and effective integration of resources, abide by the implementation path "determine cooperation project-definite participation main body-choose cooperation way-improve the regulatory system-conduct performance appraisal-realize social consensus", start from microcosmic, middle and macroscopic aspects and ultimately achieve the goal of the construction of the old-age support risk elimination cooperation mechanism from guaranteeing system, strengthening responsibility and improving awareness.