Perfect The System Of House-for-pension In Our Country

Endowment problem is an important issue which affect the national economyand people’s livelihood. As the speed of the aging population of our countryaccelerating, pension problems are more significant. How to solve the pensiondifficulty and help the elderly old nurturance is a hot topic now. China’s traditionalendowment way is family pension and social pension. But these approaches can nolonger satisfy people’s needs. The single-child policy carried out decades ago makesmany families become the "421" mode. This means that both sides of husband andwife to raise a child, at the same time support four old men. This severely reduces therole of family pension. Only rely on social pension will cause financial pressure. Insuch a situation, House for Pension, as a new way of pension was introduced into ourcountry. House for Pension allows the elderly people to solve the problem of pensionby using self-owned housing. This can relieve the pressure on the social and the oldpeople’s children. House for Pension is an important supplement of the traditionalendowment way. But the House for Pension system of China still need furtherimprovement, because the build of this system is late. These countries haveestablished the system successfully has close relates with many regulations and theperfect economic system.This paper first analyses the House for Pension system and market acceptance insome domestic cities. This paper selects three typical cities such as Nanjing, Shanghai,Beijing to analysis. Due to the high risk with the products, products design andsupporting services are not mature enough, Chinese old people do not accept Housefor Pension products. China’s legal system and financial system are not perfect, thesealso led to the explore failures of many Chinese cities. Some developed countriesbegan to explore the system and achieved success many years ago. In the process,they also once faced the dilemma of China facing now. The analysis on the housing endowment system of developed countries is helpful for our country to establish thesystem. This paper selects three countries such as America, Britain, Japan to analyze.Study their housing reverse mortgage loan product design details and supportingservice system. Combined with China’s specific national conditions and the successfulexperience of developed countries, this paper put forward that our country shouldperfect the system of House for Pension from three aspects, those are the perfect lawsand regulations, strengthening the government functions and improve the insurancesystem. In the aspect of law, we should clearly define the rights and obligations ofboth, and the situation of the loan contract termination. At the same time we shouldclear the conditions of the borrowers. In terms of government, this paper puts forwardseveral roles the government should play in the process of system building. Thegovernment needs to take most of the risks in exploring stage to attract theparticipation of both sides. The government needs to establish a pension supervisionmechanism, to perfect the related legal and financial system, for House for Pensionproducts in China are not mature and high risk. In the aspect of insurance system,insurance industry needs to strengthen the compliance management, to use theprofessional knowledge of the insurance companies. The establishment of House forPension system is a process, China still needs to improve in many ways.