Fiscal Burden Of The Basic Insurance System For Urban Employees

Because of the worsening population aging problem in our country and the imperfect pension insurance system,the social security retirement accounts of the pension insurance in our country has not received enough payment in recent years and the gap is widening.Under the system of insurance system in our country,the pressure of pension payment faced by the government is gradually expanding.This article will take the basic insurance system of urban employees as an example,to study the problem of the fiscal burden on the gap of insurance in our country.By measuring the gap of the pension insurance in the future,the article will further analyze the burden on the financial system,and proposed solutions to solve the problem.This article contains 7 parts: Introduction,Related Concept Explanation,Current Situation,Reasons of Burden,Modeling,International Experience and Policy Suggestion.To be more specific:(1)the Introduction part discusses the background of this topic and literature review;(2)the Related Concept Explanation part explains the important concepts related to the article;(3)the Current Situation part discusses the development of China's pension insurance system;(4)the Reasons of Burden part analyzes the reason of the insurance gap and financial burden;(5)the Modeling part predicts the insurance gap and financial burden;(6)the International Experience part is to learn from foreign experience;(7)the Policy Suggestion part puts forward the solutions of the expanding gap and financial burden.On the whole,the main reason for the emergence of the heavy financial burden in our insurance system is the change of population structure and imperfect system.Under the current system,the pension insurance gap in social security retirement accounts will climb until 2045,reaching a peak of about 10 trillion,which accounts for 14.1% of the total fiscal expenditure.This will make the financial system overburdened.Considering China's national conditions and international experience of the insurance reform,the article presents some proposals of China's pension insurance system.On the basis of the principles of sustainability,fairness and efficiency,in the short run,some technical adjustment is needed,including the extension of retirement age,raising the base of contribution and reducing the replacement rate;in the long run,further institutional development is needed,including clarifying the government responsibility,planning the budget overall by central government and reforming the financial contribution mechanism.