Research On Replacement Rate Of Occupational Pension And Its Influencing Factors

In recent years,the ageing population in China has been deepening,and the pension burden has gradually become insufficient.This has led to a reduction in the income of the elderly after retirement.The number of pensions received after retirement is related to the living standards of the elderly.The demand for material life is rigid.The current situation in China is over-reliance on the basic pension insurance,which is the first pillar of the pension insurance system,and the overall level of the first pillar replacement rate.It is declining year by year.On the one hand,the increase in expenditure after retirement,and on the other hand,the decrease in retirement pension after retirement,both of which will inevitably result in a decline in the quality of life of the elderly.Therefore,in order to protect the living standards of the elderly,from the perspective of the second pillar,that is,the enterprise annuity,it is effective to seek ways to increase the pension replacement rate of the elderly.The purpose of the establishment of enterprise annuity is to supplement the basic pension insurance,ensure that the standard of living of the retired workers will not be reduced,and improve the quality of life on the basis of ensuring basic living.The replacement rate of the enterprise annuity can accurately reflect the degree of supplementation it brings.Researching how to maintain a reasonable replacement rate is not only important for maintaining the balance of the elderly's life-long income,but also has a crucial role inimproving the national pension security structure.Therefore,this paper first calculates the actual level of the replacement rate of the current annuity by constructing an enterprise annuity replacement rate actuarial model and combining relevant influencing factors.Secondly,the impact of the change of different influencing factors on the replacement rate of the enterprise annuity is simulated,namely the sensitivity analysis.Once again,an empirical analysis of the multi-factor combination scheme under different time-to-pay is conducted.Finally,policy recommendations are made to improve the replacement rate of the enterprise annuity and improve the annuity system of the enterprise.Based on the theory of social insurance fund balance,this paper analyzes the replacement rate of enterprise annuity and its influencing factors through five chapters.The introduction elaborates the research background and significance of the replacement rate of the annuity of an enterprise and its influencing factors,defines and explains the relevant concepts and theoretical basis,sorts out and reviews domestic and foreign research literature,and on this basis,explains the research ideas,methods and innovations of this article..The first chapter reviews the development history of enterprise annuity system at home and abroad,summarizes the research status of China's enterprise annuity replacement rate,and analyzes the problems in China's enterprise annuity system from various aspects.In the second chapter,based on the establishment of the enterprise annuity fund balance model,through the assumption and prediction of each relevant parameter,the actual level of replacement rate of the enterprise annuity is calculated.The third chapter is to analyze the sensitivity of five different influencing factors such as starting payment age,retirement age,payment rate,salary growth rate and investment return rate.The fourth chapter is to calculate the substitution rate of the combination scheme that changes a variety of influencing factors in order to obtain a feasible method when achieving the target replacement rate.The fifth chapter is based on the conclusions of the first four chapters,and proposes reasonable and feasible policy recommendations for improving the replacement rate of annuities and establishing a sound enterprise annuity system.This article uses the latest statistical data,combined with current policydocuments,and adopts methods such as actuarial model,text analysis,and comparative research.It starts with the retirement age,investment return rate,and wage growth rate of the enterprise annuity,measures the replacement rate of the enterprise annuity,and analyze the influence of various factors.The results show that the current rate of substitution for annuities for male employees is 14.67%,and that for female employees is 11.99%.The factor that has the greatest impact on the replacement rate of annuities is the retirement age.If the current retirement age policy is used,the annuity replacement rate for male and female enterprises Significant difference.If the retirement age of men and women is the same,the difference between the replacement rates of the two annuities is small.In the shorter period of payment accumulation,the enterprise annuity cannot achieve the target replacement rate.Keeping the replacement rate of the enterprise annuity should start from the following aspects: First,delay the retirement age,and eventually the retirement age of men and women;second,relax investment restrictions and increase the return rate of investment in annuities;third,control the excessive growth of the basic insurance contribution rate and reduce the burden on enterprises and individuals;The fourth is to implement a mandatory annuity policy and gradually merge with the occupational annuity;Fifth,conditional implementation of the taxation and preferential policies to stimulate the enthusiasm for participation.