A Comparative Study On The Changes Of The Old - Age Security System In China And Russia

In recent years, under the background of the increasing pressure of population aging, the new reform opportunity of old-age security system in China would come out. Although it’s a burden of economic and social development, the increasingly prominent problems, such as the difficulty in government pension spending growth, the fund gap in pension and empty personal account of pension insurance, may bring a new chance to change the old pension system. So the main purpose of this study is to put forward opinions to guide economic and social development, through the analysis of the historical system.This article, based on institutionalism and comparative political economy analysis tools, firstly, describes the history of the pension system transition between China and Russia. It differentiates the evolution stages of history of pension system and sums up the main factors of promoting institutional evolution from the historical context.Secondly, this part compared basic elements of social game between two countries’ historical background. In order to demonstrate that the new positive guiding institution, based on the reality of social game, can bring more energy to the economy and make social development into a virtuous cycle.Thirdly, in the micro perspective of the subject and structural relationships, it analyses the subjective construction process of the interest groups. With the given rules, this part begins with the correlated analysis of two main body construction processes, and then states how the changes in structure relationship motivate institutional changes. Thus it is concluded that the dynamic game by different interest groups is the main cause of institutional evolution. Furthermore the new policy formulation and the new reform should fully base on the reality of social game.Learning from the experience of the reform of Russia, China’s pension system reform should head to standardize the capital market, actively incent the pension investment in capital market, fully develop individual savings pension insurance, and encourage commercial endowment insurance.