Development And Application Of The Assessment System On The Safety Of Social Security Fund

Social Security Fund(SSF)is known as a lifeline of social security and plays a crucial role in the life of the general public.The Chinese government has been paying close attention to the safety of SSF.Over the recent years,governments of all levels and relevant sectors have spared no effort in improving the social security system,establishing a sound social security fund supervision mechanism,enhancing the level of public service,strengthening inspection efforts,intensifying fund regulations and significantly increasing the safety of SSF.In general,SSF has been operating safely and smoothly across China,providing strong support for ensuring the smooth operation of social security system,and promoting the harmonious and stable development of the whole society.However,the management of SSF varies significantly between/among different areas and insurance types.In areas where the incidence of major and serious criminal cases is rather high,and new SSF-related risks are emerging,it is necessary to establish a science-based assessment system on the safety of SSF to accurately measure the SSF safety,identify the risks,improve the efficiency and effectiveness of supervision measures,and ensure the safety of SSF.Nevertheless,no research finding in this field is available both at home and abroad,and nor is there any mature solution in practices.This paper builds itself on basic theories of SSF and fund regulations,draws on the best practices in terms of commercial insurance,security regulations and safe production,and reviews the current operation and management of SSF in China.Through assessing the risks and issues related to SSF operation,it starts to design the basic composition of assessment indicator system on the safety of SSF from the following three aspects: fund support,asset management,and risk management and control.It also uses the Analytical Hierarchy Process(AHP)method to define the weights of 15 assessment indicators,including premium rate,return on funds,and internal control and assessment of relevant institutions,and develop a complete and universal assessment system on the safety of SSF.Based on the operation and regulations of SSF in Chongqing,this paper tends to verify and analyze the existing assessment system of the basic pension fund and basic medical insurance fund for urban employees.Finally,it discusses the application of the SSF safety assessment system and puts forward relevant policy suggestions.