A Study On The Longevity Risk In Aging

With the progress of human society and the improvement of health level,many countries and regions around the world is facing the challenge of aging society,in this context gave birth to the concept of longevity risk.The impact of longevity risk is worldwide and is also a serious challenge for our country.Longevity risk will have a significant impact on individuals and countries,and how to manage longevity more effectively becomes a topic that can not be ignored.Although in recent years,China's basic social pension insurance has developed rapidly,the basic old-age insurance insured more and more common,but due to the influence of various factors,China's pension funds there is a big gap.In recent years,there have been many researches on longevity risk abroad.As a new and effective longevity risk management method,longevity risk securitization has been paid more and more attention and respected because of its own good characteristics,and some western countries have established A set of systems and programs related to longevity risk securitization.Longevity risk securitization as a set of effective programs to manage longevity,the core is by designing longevity derivatives to transfer longevity risk to the capital markets,to achieve effective decentralization and transfer of longevity risk.However,domestic scholars in this area of research is still relatively small,has not yet formed a systematic study.In view of this,this paper studies those issues.First of all,this paper describes the current population structure in China and the development of the old-age insurance industry,hoping to attract people's attention to the problem of longevity in China;then explain what is the risk of longevity,which risk born by,and then analyze the risk of longevity Impact.Second,this article will introduce the longevity risk management approach,both the traditional management methods,but also covers the variable annuity insurance,reverse mortgage and other innovative longevity risk management.Comprehensive analysis,evaluation of the advantages and disadvantages of various ways.Next,we elaborate on the important ways of survivor bonds,longevity swaps,two kinds of longevity risk securitization.Contact the specific reality of China's capital market,that can use longevity risk securitization way to spread the longevity risk.Finally,in view of China's national conditions,mainly from the promotion of pension insurance system reform,improve the pension insurance pricing,insurance product innovation design,risk to the capital market and encourage reinsurance companies to share the risk of five aspectsPut forward the relevant recommendations of longevity risk management,with a view to the relevant departments to provide policy decision-making reference.