The Dilemma And Breakthrough Of Urban Employees’ Endowment Insurances System "Combination Of Social Pooling And Individual Account" Mode

With the reform of state-owned enterprises in China and the rapiddevelopment of the market economy and the implementation of the civilservice pension insurance system, there are more and more social endowmentinsurance system to cope with the realization of social economicdevelopment goals for its meaning. They stressed that the fair is no longer singledimension considerations, but become a common existence with development.Objective to establish a system to the implementation process, and then to the resultsshould be considered in the development of the market economy in the position andfunction. Therefore, review the current urban employees "combination of socialpooling and individual account" mode of endowment insurance system, the conditionsand social environment in the system at the beginning of the establishment of haveundergone tremendous changes. The shackles of the system appears more somewhatdeviation with the whole development of the market economy environment. Thisnot only involves the social endowment insurance system exists, also affects theperformance of the entire national economy operation and competitive in the world.So face various difficulties at present, as soon as possible to find the method of breakhas become the current most urgent needs.Analysis of the various difficulties existing in our country’s currentendowment insurance system for urban employees, which mainly include whichmainly includes the transformation cost cannot clear and empty individual accountcan not avoid these two aspects. On the one hand, the transformation cost directly leadto the existence of hidden debt, and the scale with the aging and social economicdevelopment become more and more large. On the other hand, empty account operation cannot solve also demonstrates the individual accounts mode in the currentsocial context is not operable. Therefore, to solve these problems, we must dig deepdesign defects in the system itself exists, and grasp the core of the problem to beanalyzed, so as to find the breakthrough in the predicament.Theory can often provide guidance to solve the practical problems of thescheme. Social endowment insurance is a kind of system arrangement, if put it in thesystem of the scope of economics, using the theory and the analysis tools of newinstitutional economics, completely may provide ideas and effective method for thecurrent endowment insurance system reform. The theory explains the interaction andinfluence between institution and economic performance and the ideology of the three.The two part together determine the change of system, so as to realize theconstruction of the relationship between institution and economic development. Firstof all, the rights and obligations of the vague rules led to the transaction cost ofsystem operation is too high, which can’t be implemented effectively. Secondly, thepersonal account property boundary is not clear become the key limitation ofinstitutional change. Finally, should play the advantages of the induced changes, findthe improved scheme is more easy to realize. For example, empty account operationexistence is considered the practical factors, therefore, consider how to make emptyaccount operation mode becomes the legal norm is a kind of solution.In the guidance of the new institutional economics, this paper puts forward theconstruction of "account combination" mode of internal debt, in order to solve thedifficulties existing at present. The operation model of internal debt to personalaccount, somewhat similar to the foreign "nominal account system" in essence, Themodel is composed of the social pooling account issued "directional bonds" to theindividual account, which will be the transformation cost by debt mode to implementthe individual account. Its advantages include to solve the problem of the emptyaccount of hidden debt; clear personal property claims and protected; flexibleadjustment according to the market economy development index; reduce thegovernment’s operation and management cost; avoid political risk; to promote the economic development and the efficient allocation of resources and so on six.After analyzed the feasibility of internal debt in the model, we can put forwardthe reconstruction plan. Undeniable, the future development of pension insurance willbecome the three pillar model. Therefore, we should focus on second, the third pillar,instead of putting too much effort and cost to the individual accounts fund. Theestablishment of internal debt model not only accord with the transaction cost theoryof new institutional economics, property rights theory and institutional change theory,and also laid the foundation for the two part of the personal account and poolingaccount to become independent and mutual influence. This is the significance of theinternal debt mode.Finally draws the conclusion, for the current realities in China, the efficiencyof internal debt model is higher than the implementation of individual accountsaccumulation. As for the long-term development of endowment insurance, thesustainable development of flexible adjustable internal debt model is also moreconvenient for system. To sum up, the internal debt model is to solve thecurrent series account union dilemma, and in compliance with the an arrangement ofsystem direction of the future development pension insurance. In the future, shouldfocus on how to construct an equilibrium model, so as to realize the controllableon proportion of payment and economicdevelopment regulation.Internal debt model is put forward to solve the problemsexisting in the system itself, it also points out the direction of for the futuredevelopment of.