Research On Moderate Replacement Rate Of Pensions In Government Institutions

On January 14,2015,the state council issued the decision of the state council on the reform of the old-age insurance system for employees of government institutions(the state council issued [2015] no.2),which stipulated the reform direction and content of the old-age insurance system for government institutions.The promulgation of this document laid a foundation for breaking the "dual-track system" of old-age insurance.At present,with the steady implementation of the reform on the integration of state organs and public institutions,the process of China's endowment insurance system from "fragmentation" to "unification" is further deepened.However,there is a big difference in the pension replacement rate between government institutions and enterprises.How to improve the difference has become an important step in the reform of integration.The integration of government agencies and public institutions into the system also alleviates the gap of pension replacement rate with enterprises.This paper analyzes the urgency to improve the pension replacement rate of government institutions from the perspective of the current state of pension operation,pension replacement rate and existing problems.Through the actuarial model,the appropriate range of pension replacement rate is calculated.Secondly,through the treatment model,the realistic replacement rate of pension is calculated,and the comparison and analysis between the two shows that the realistic replacement rate of basic pension of government institutions is higher than the moderate replacement rate.Based on this situation,the pension replacement rate will be reduced by reducing the contribution ratio of government agencies and public institutions,so as to link the realistic replacement rate with the moderate replacement rate.Based on the calculation model of the appropriate range of pension replacement rate,this paper finds that the replacement rate of basic pension in government institutions is basically the same as that of employees in enterprises;at the same time,under the effect of occupational annuity,the gap of pension replacement rate before and after the merger is small.Based on the calculation of the replacement rate of basicpension,it is found that the replacement rate of basic pension in government institutions is linked to the number of years of contributions.With the increase of the number of years of contributions,the replacement rate of basic pension also increases,which is gradually higher than the moderate replacement rate.Therefore,this paper calculates the appropriate contribution rate range through the basic pension balance model.Moreover,in 2019,the government work report proposed to reduce the contribution rate of the national basic endowment insurance to 16%,which was in line with the moderate range of contribution rate calculated in this paper.