Study On Pension Insurance For Enterprise Employees In Henan

With the rapid development of Central Plains Economic Zone, pension insurance system in Henan which is an important livelihood issues plays an irreplaceable role. The improving of Pension insurance system is a strong guarantee for a harmonious society, and will promote the rapid development of Henan Province.In this paper, by the method of “literature research” and “policy analysis”, the author reviewed existing literature, summarized the evolution history of the pension system in Henan. Besides, based on the unique area of Henan Province, the author analyzed Henan's n relevant policies through policy comparison. Meantime, with the help of the author 's work experience, he refined Henan Province pension system problems, and argued we should broaden pension investment channels, strengthen the role of personal accounts, develop annuity, encourage personal savings pension development and other policy recommendations.Only in this way,we can make the pension insurance have the same orientation with the whole country which also takes its own characters.Henan Province pension for enterprise employees has gone through four historical periods, respectively, in the creation phase 1951-1966, severely damaged phase 1966-1976, and from 1977 to 1992 recovery adjustment phase, and since 1993 the innovation and reform stage. Currently, enterprise employees pension in Henan Province has made remarkable achievements, such as the number of insurance increases every year, year after year to expand the size of the fund, pension level gradually increased, the system gradually improved, but there are many problems, mainly in the fund revenue growth decreased growth subsequent fatigue, fund expenditures rapid growth of expenditures highlights, uneven distribution of fund balance, increasing the value of pressure, the fund faces a long-term balance of payments gap, increasing financial pressure, greater pressure on the payment, revenue management is not working in place, there are a lot of incremental reduction factor, the provincial co-ordination is not standardized, national co-ordination face greater difficulties and other problems. Based on the above background, the author proposed to adhere to the system actuarial balance, build self-seeking fund balance mechanism, improve budgeting, reform of the pension system at the provincial level, to broaden the fund investment channels, increasing the value of, and strengthen the role of individual accounts, improve the incentive and restraint mechanisms, an appropriate increase in the retirement age, to extend the minimum payment period and other policy recommendations.