The Reform Of Chinese Public Servants’ Pension System

Pension System, objectively speaking, maintains the stability of a country, and is the fundamental livelihood issue, which has significant effects on the economic and social development of the country. Now, our country is at the rapid development stage of ageing. The aging population bring heavy burden for the young who are responsible for taking care of the elder. Thus, people’s demand for social endowment insurance and related services abruptly increase, which will have direct impact on the existing old-aged insurance system in China. The continuous development of the endowment insurance system in China almost makes the whole system covered, but due to the problems left over by history and various factors such as management system obstacle caused by a variety of old-aged insurance system in parallel, servants and employees in the same country have been taking different endowment insurance system for a long time; as a result, this kind of difference contributes to career barriers and even deepens the internal contradictions of diversified economic structure. Therefore, the government plans to start the pension system reform of staff in the Authority units and Institution in January, 2015, transferring the dual system to a uniform one. However, there are still many problems involved if we want to make this decision really work, for example, the current single raising mechanism of pension fund, the heavy burden and the gap of pension treatment arousing great resentment from in-service and retired workers. However, the unfair treatment of the new endowment insurance reform is reflected in the occupation pension. Meanwhile, the decreased pension treatment of retired servants results from the transfer. Moreover, we will encounter a series of new challenges, such as, the low-level socialized management service, bad transferability, incapability of maintaining and increasing the value of pension fund and hysteretic supporting pension reforms. The present problems resulting from the pension system reform of servant show that the reform, improvement and promotion of pension system are the complex and arduous project. Any reform can’t be achieved overnight. Any reform need be based on our national conditions, with experience accumulated in practice and system improved constantly. In terms of the present problems, we can found the fund-raising mechanism of responsibility-sharing pension system of servants, construct the integrated and multi-level pension insurance modes, deepen the socialized reform pension management and service of servants, make the transferability better, operate pension insurance fund appropriately and achieve the maintaining and increasing the value of pension fund. Meanwhile, the supporting reforms should be speeded up. Only with resolute decisions and with the modes of reform improved can the government build a more rigorous system of pension insurance, and completely solve the problems caused in double-track system.