The Research On Chinese Occupational Pension System

Social security has always been a hot issue of public concern in recent years. The aging population problem has intensified, people’s per capital income has improved continuously, people’s average life expectancy has increased, the burdens of pension insurance has growed increasingly, all these issues will be a huge challenge for basic endowment insurance system in China. Therefore, how to perfect our endowment insurance of three pillars,which consists of basic endowment insurance, occupational pension, individual savings endowment insurance, reduce the heavy burden of basic endowment insurance system, guarantee the living standards of people’s retirement maintain before retirement, is a social security problem which urgently to be solved in the present.Justice and efficiency are two important problems which faced by the value selection of social security system. On the premise that endowment insurance can ensure justice, occupational pension, as a supplementary pension insurance, can solve the efficiency problem, ensure that retirees can obtain a high replacement rate, make the whole endowment security system can ensure justice and efficiency.Chinese occupational pension system was established in 1991, whose coverage is expanding, the total accumulation of enterprise annuity fund is increasing, the relevant laws and regulations are also gradually established and perfected. However, being compared with developed countries, the occupational pension of our country developed fall behind obviously, and exist many problems.Therefore, it is great significant to analysis the problems depthly, established multi-pillars endowment insurance system and guarantee the living standards of retirees.This article is based on the latest statistical datas, take the method of documentary research, comparative analysis, qualitative analysis combined with quantitative analysis and so on. The development of occupational pension is analyzed from the three aspects:development scale, structure distribution, the rate of return on investment. The development of occupational pension in China has the following problems:narrow coverage; low replacement rate; extremely unbalanced development between different industries, different regions and enterprises of different ownership; low fund investment income. Basing on the above analysis, the reasons of these problems includerold ideas, lack of awareness of the importance of occupational pension,high substitution rate of basic endowment insurance, lack of the ability and power to build occupational pension, lack of developing normative and so on. Combined with the development of occupational pension in America, Australia, Japan, Hongkong and other developed countries and regions, to get some beneficial enlightenment from it. Finally, this paper puts forward the following policy suggestions for the existing problems of chinese occupational pension:increasing the educational propaganda intensity of occupational pension, establishing the basic endowment insurance system, carrying out the delay retirement age policy, increasing the intensity of the preferential tax policy of occupational pension,strengthening the management of occupational pension fund investment, improving the occupational pension supervision and management system, establishing the occupational pension fund risk guarantee mechanism, improving occupational pension related legislation.