A Study On The Implicit Debt In The Pension Insurance Reform Of Organs And Institutions

At 2015,with the demanding of uniting different systems are getting higher and higher,the State Council has issued the Decision on the Reform of the Endowment Insurance System for Staff of Government and Public Institutions and decided to reform the endowment insurance system for staff of government and public institutions in accordance with the Social Insurance Law of the People's Republic of China.The Decision was meant to implement the basic endowment insurance system integrating social pooling and individual account,make the transfer of endowment insurance possible between sectors of different nature.Since China is in the initial stage of the reform of the public institutions insurance,there is barely any calculation on the scale of IPD and the related transition costs in the reform of the public institutions endowment insurance.This paper is based on the former study on the IPD of urban workers' pension insurance,according to the policies and regulations of the old-age insurance reform of the public institutions,the author have established a special actuarial model for the calculation of public institutions insurance IPD.So as to calculate the actual scale of the IPD of public institutions endowment insurance our country in three levels.On the basis of the actuarial results,we can further make quantitative tests and then,based on the test results,propose policy recommendations to promote reform process of the public institutions insurance.The main body of the paper include five parts.Firstly,it discusses the background,significance,the main methods of research and the innovations and shortcomings of this paper.Secondly,it puts forward the definition of the key concepts of this paper and theoretical basis and systematically reviews the predecessors' literature.Then,on the basis of the actuarial measurement methods of the previous researches,this paper establishes the actuarial model which is suitable for the calculation of the hidden debt of the old-age insurance of the organs and institutions.After establishing the calculation ideas and calibers and making reasonable actuarial assumptions,three kinds ofimplicit pension debts was measured and analyzed accordingly.Then,based on the actuarial results of implicit pension debt,this paper puts forward the solution schemes inside and outside the system,and actuates the solution through the actuarial model to verify the practical effect of the solutions.Finally,this paper summarizes the research conclusions and puts forward some policy suggestions on the basis of them.This paper argues that the scale of the implicit pension debt of current organs and institutions is still in the controllable range.Based on the principle of intergenerational equity,we should,through the implementation of the adjustment plan and the financial subsidy scheme outside the system,bring the settlement of the implicit pension debt into the sustainable institutional framework,so as to effectively promote the reform of the institutions' old-age insurance system.