Research On The Legal Approaches Of Commercial Endowment Insurance Abutting Basic Endowment Insurance

The problem of population aging is becoming more and more prominent in our country as the number of elderly population is large,and the situation of aging before getting rich and getting prepared is getting worse.Therefore,the old-age security has become an urgent problem to be solved.In the near future,who and how can ensure the lives of hundreds of millions of elderly people? Facing the exacerbation of population aging,the increasing burden of pension outlays and a lot of other practical problems,the Chinese government has been actively seeking ways to gradually perfect the Social Pension Security System.Graded reform steps have been adopted.Only urban employees are included from the beginning,and gradually the scope extended to the rural population and urban residents.It should be said that in a few years,after the implementation of the Basic Old-age Insurance System for urban and rural residents,China will be able to achieve the goal of "insuring all the people".Of course,the old-aged needs cannot be satisfied only with basic endowment insurance.To reduce government payment pressure,not only qualified companies are encouraged to establish the enterprise annuity for their employees,but also affordable individuals are encouraged to buy commercial endowment insurance inrecent years,and thus the three pillars of the Social Pension Security System are constituted.The characteristic of commercial endowment insurance is government leading and professional operation.The government is responsible for the formulation of basic policies,coordination of financing and supervision and guidance.Business insurance company utilizes its professional advantages and plays an active role in the market mechanism.Hands of the government and the insurance company better promote the well-being of people’s livelihood through joint efforts,so that people enjoy more “sense of gain and happiness”.When the commercial endowment insurance participates in the building of social security system as an important supplement of the basic social endowment insurance,the problem of legal system abutting must be considered.However,at present,this research has just started in our country,so there are not many research results and in domestic academic circles and there is not much document literature can be referenced.Therefore,the author hopes to find suitable legal approaches through the comprehensive and systematic study of the two kinds of endowment insurance.In addition to the introduction and conclusion,this article is divided into five parts.The first part is the origin analysis of basic endowment insurance and commercial endowment insurance.Through the introduction and comparison of the development and reform history of both,three kinds of performance of the unbalanced development are obtained and the causes of the formation are analyzed.The second part is the analysis of the deficiency of the law system of basic endowment insurance.There are four main problems.The first one is the low level of legislation and lack of public participation.The second one is the "personal empty account" problem.The third problem is the low level of overall planning.The forth one is the unclear responsibility of supervising institutions.Because of this,it is necessary to add commercial endowment insurance into the Old-age Security System as supplement.The third part analyzes the necessity and feasibility of the abutting between thebasic endowment insurance and the commercial endowment insurance.First of all,the author compares the similarities and differences of the legal functions of the two kinds of insurance,and then discusses the supplementary role of commercial insurance in the docking.Secondly,the necessity of docking is analyzed from three aspects: the growing aging conflicts,the undone Three Pillars system and making up the inequity caused by the low planning of the basic endowment insurance.Thirdly,the author summarizes the feasibility of the docking from three aspects: economy,policy and insurance industry.The fourth part is the comparison of practice and institution of endowment insurance between China and foreign countries.For domestic part,the author expounds the preparation and the difficulties and worries facing of three pilot programs: housing reverse mortgage endowment insurance,tax deferred pension insurance and senior care community.For foreign part,the author summarizes the experience worthy of our reference of American private pension insurance system and pension insurance reform in Germany.The suggestion is put forward to do pave the way for the following improvement.The fifth part is the construction of legal system of commercial endowment insurance abutting basic endowment insurance.According to the various obstacles and legal issues mentioned in the above,based on the related theory and advanced practice experience of foreign pension insurance system,the author makes effort to find some methods to solve these problems,such as increasing the intensity of tax incentives and enacting "commercial endowment insurance law" etc..The purpose of this paper is to put forward the legal suggestions for the accessible and seamless docking of commercial endowment insurance and basic endowment insurance,as well as for making commercial endowment insurance institutions fully involved in the construction of the Old-age Security System.Therefore,all the elderly will be looked after properly and will have no worries.