A Countermeasure Research On House-for-pension In Zhengzhou City

At the present stage,the principal contradiction in Chinese society is that between the ever-growing needs of the people for a better life and unbalanced and inadequate development.The enormous changes and developments in our economy and society have led to a substantial improvement in the quality of life.As the changes of Life style and medical conditions have generally prolonged the life expectancy of the population,aging society has been gradually become a worldwide issue.Meanwhile China is falling into a deeply aging society step by step.So it is a challenge to plan the retirement for each aspect of individuals,families,society and government,who are exposed to the threats brought about by the pension and traditional concept.On the above situations,the House-for-pension Program as a Chinese version of reverse mortgage provides a new solution to the aging problem for senior citizens.Under the program,elder people who own a house can mortgage it to an insurance company or a bank to get a certain amount of money every month until death.The program is an innovation in the pension model and the pension concept through maximizing the value of private real estate as well.Reverse Mortgage,a type of home loan for older homeowners has been practiced decades in the foreign countries with a lot of successful cases.However,there is still inadequacy at home,such as short running period,few cases,incomplete operation mechanism,laws,regulations and institution.According to the author's investigation,one important reason why the House-for-pension Program has not been well implemented is that the executive agencies are not likely to tailor to local conditions and specific situations.Based on this,this author takes a survey in Zhengzhou City,Henan Province,which focuses on the demand of older citizens,collects the latest information,summarizes and compares the results,and aims at discussing the necessity and possibility of carrying out the House-for-pension Program in Zhengzhou City.Factors in the necessity of the program implementation include:serious population aging,weakening of the family supporting,and incongruity between the social pension insurance system and endowment problems.For the probable factors,such as national policy support,the real estate industry and the development of the financial industry,the concept of pension reform,and modification of people's quality of life and lifestyle.Then,through the analysis of survey data and the typical cases study of reverse mortgage home and abroad,the author concludes that Zhengzhou can choose House-for-pension Program as an important supplementary way to solve the pension problem,by means of fully taping the huge value of real estate and the great effectiveness of the market economy,and constantly improving the relevant policies,regulations and mechanisms,completely strengthening publicity and government guidance and forcefully regulating the market economic development.Ultimately,in the view of "people-oriented",all the following discussions and analysis are expected to impel House-for-pension Program in Zhengzhou City.And furthermore,it provides an enlightenment for Chinese pension system hopefully.