Analysis On The Influencing Factors Of Basic Pension For Urban Workers Based On OLG Model

Since 2014,China's population over the age of 65 had exceeded 10% and showed increasing trend year by year.According to the United Nations' standard of access to an aging population-65-year-old population reached 7%,Our country has already stepped into an aging society.With the population aging,it will bring many problems.From the pension system's point of view,the structure of intergenerational relationships have Changed,the elderly dependency ratio increased.The smaller balance of income and expenditure of basic pensions posed a severe challenge to the state's finance and pension system.The benefits of the insured should also be an important consideration in the reform,which is related to the welfare of the community and the insured.If the society is in a developing situation and prices are rising,the pension will not be able to meet the expected level of protection without a proper adjustment mechanism.This paper established the over-lapping generation model,added price factors and basic pension fund investment growth rate in the model innovatively.,and performed empirical analysis of the effects of price changes on social consolidated account,and individual pension accounts.In the data simulation part,when setting the parameter values,it is more practical to refer to the latest policy and the latest annuity operational data.Finally,taking into account the price level,the overall pension expenditure is positively correlated with the price level,while the individual pension account is negatively correlated,and the former is greater than the latter.The overall social replacement rate should be between 32.5% and 33.5% according to normal social inflation rate.Pension fund investment rate of return is more appropriate to be between 8%-12%.The conclusions proved the importance of implementing individual funds and increasing the rate of return for individual pensions.the urgency and necessity of proactively developing enterprise annuities and personal savings and pensions.It is necessary and urgent to actively develop enterprise annuity and personal savings for the elderly.