The Research On The Interactive Relationship Between The Endowment Insurance And The Economic Growth

The social security system is one of the important social economic systems in modern countries, it is also an important criterion of social civilization and progress.As the core content of social security, the importance of the old-age insurance system is becoming more and more important. Through the latest big data show that: the pension has been replaced by housing and income and health care to become China's new three major problems.Secretary General Xi Jinping in Beijing Haidian District Sijiqing nursing home inspection points out "to improve the system, improve the work, promote the diversification of pension business, diversified development, let all the elderly can be cared, the old can be depended on, and the old music, old age security.”As the development of population aging and the relationship between the pension insurance system and economic growth are becoming more and more closely, as a developing country and a large population, China's pension security problems are more serious.Therefore in the pension insurance system reform under the trend of globalization, how to promote the coordinated development of endowment insurance system and economic growth become focus of economic institutional arrangements, also is the endowment insurance system reform and the only way for the breakthrough.The development of the old age insurance in our country is accompanied with the economic system reform.After more than ten years of reform and exploration, gradually clear framework, 1997 after China established including basic endowment insurance, enterprise pension insurance and individual savings endowment insurance, unified old-age security system, multiple forms of endowment insurance meet the needs of different levels of people.With the continuous improvement of the economic growth of the pension system, but the achievements and problems- the coverage is too narrow, the payment rate is high, the balance of payments deficit, the value of the increase in value and other issues are gradually exposed.This paper is based on the reality of China's endowment insurance, in literature research and theoretical basis, relationship of old-age insurance and economic growth empirical analysis and research, puts forward the policy recommendations in order to improve the development of the endowment insurance in our country.First of all, through the literature review and review, to clarify the direction and focus of this paper.First, economic growth is driving the development of endowment insurance, different pension system will also have different degree of impact on the economy, but they are moving in the direction of adaptation and promote economic growth;Second, the mode of raising funds and the income and expenditure of the old age insurance will affect the economic behavior of the individual, so as to produce the effect on economic growth;Third, the basic old-age insurance is still the most important guarantee, through the various aspects and economic produce closely, enterprise annuity as a "second pillar" pension system can not only alleviate the pressure of the basic old-age pension and will affect economic growth, but its relative lag, China should perfect tax incentives and a variety of policies and systems, encourage enterprise annuity vigorously implement.Secondly, on the basis of literature and theoretical research, empirical analysis.For the past thirty years, the level of pension benefits and the level of GDP through the establishment of VAR model, using the method of pulse effects and variance decomposition effect on the relationship between the two degree and do in-depth research.The results show that GDP has a significant impact on the treatment level of pension insurance, and the impact of pension expenditure on economic growth also has a contribution rate of 17%, a more lasting impact.So to coordinate the relationship between economic growth and pension spending, while the increase in pension spending to drive economic growth.Then using grey correlation analysis model, of pensions and pension replacement rate, the number of insured and enterprise supplementary pension fund and GDP correlation analysis, before and after the study of the pension insurance reform on economic growth influence degree, get the present development of the "second pillar" pension system is still developed slowly.Again, review of China's pension reform process, and sums up the existing problems, based on established long-term actuarial balance model, in current endowment insurance system on the basis of pension income rate and cost were analyzed, and predict the future state of equilibrium and solvency, the current endowment insurance system in China in the long term will face a shortage of solvency problems, can not be sustained and stable development.Finally, old-age insurance and economic growth theory and empirical analysis based on, for better use of their mutual promoting role put forward relevant policy recommendations, should expand pension coverage and the establishment of the integration of urban and rural pension system, gradually reduce payment rate, further optimize the pension fund investment strategy, strongly support the enterprise supplementary pension fund was established, at the same time to develop "endowment economy", strengthen government supervision, to protect the healthy and harmonious development of society.