Research On The Effects Of National Defined Contribution Model To The Social Pension Fund

With the Partially Funding system is established,we have made great achievements, for example,expanding endowment insurance coverage and improving the level of endowment insurance,however after years of operation,especially the "demographic dividend" effect was declining, the deficit risk of the pension fund gradually showed up along with the increasingly grievous aged population. old-age insurance system is faced with serious challenges and difficulties. On the one hand,there will produce large transition costs when the system transilates from the PAYG schemes to the accumulation pension system,and the situation will be much worse with the old people retired. but the government has not issued a clear policy to compensate for the cost, this leads to individual account funds diverted to pay the current gap for a long time,and he huge funding gap makes the personal accounts do real reform dilemma. On the other hand, the Partially Funding system has much problem,such as overall level is low、the regional pension collection and payment standard is not unified so that it is difficult to flow forcely for the labor and the contribution rate on the high side, causing some companies struggled to pull outstanding endowment insurance of pay.Therefore it is time to reform the existing system.This article introduced National Defined Contribution Model,and analysed the influence of social endowment insurance fund balance of payments afer the system is running and the advantages and disadvantages of NDC and reform measures, the specific chapters as follows:The first chapter:the related concepts and theoretical basis. This chapter focuses on definiting several important concepts’ connotation and denotation which are needed,and detailed elaborates and explains intergenerational overlapping model, pension actuarial model theory, life-cycle theory and so on.The second chapter:the old-age insurance system’s present situation and existing problems in China. This chapter induced the development course and present situation of China’s endowment insurance system,as well as the existing in the operation process, the problems to be solved.The third chapter:to calculate the gap of income and expenses of the social pooling fund. This chapter builded social pooling fund balance actuarial model according to the current system,and analysed the fund balance of payments through this model,anf furter illustrated that pension reform is urgently needed.The fourth chapter:social endowment insurance fund balance actuarial model and empirical analysis in NDC. This chapter calculated the fund balance of payments in NDC,and compared with he fund balance of payments in current system,and further analyzed the positive influence and limitations of NDC in our old-age insurance reform.The fifth chapter::policy Suggestions. This chapter further expounds the feasibility of NDC reform in our country, and proposed countermeasures.