Research On The Main Problems And Countermeasures Of Enterprise Annuity Development In China

With the acceleration of China's population aging,the number of provinces where basic pensions cannot make ends meet has increased year by year and the country is facing more severe pension payment pressure.Under such circumstances,improving China's multi-pillar endowment insurance system further and capitalizing actively on enterprise annuity as the second pillar to supplement endowment insurance is a realistic and urgent choice to improve the pension level of employees and the pension system of China.As one of the earliest countries to establish the enterprise annuity system,the United States has gotten its enterprise annuity basically implemented.Based on the present situation of China,studying the enterprise annuity of America can provide some ideas and angles for the development of China's enterprise annuity.Learning and drawing on American experience is a shortcut to promote the continuous development and improvement of China's enterprise annuity.Based on basic concepts and theories of economics,social security and finance,this article analyzes the development status and development problems of China's enterprise annuity,and proposes some opinions in line with China's national conditions,combining the experience and lessons of the US enterprise annuity.The main contents include: firstly,the development status of China's enterprise annuity is introduced fromsix aspects of fund size,coverage,treatment distribution,replacement rate level,fund investment scope and investment return rate;secondly,this paper proposes that China's enterprise annuity has six problems,such as low participation rate,narrow coverage,low substitution rate,low investment range,low risk and return,imperfect tax incentives and the urgent need for optimization of the regulatory system,and then analyzes the causes of these problems;thirdly,according to these problems and reasons,the specific situation of the 401(k)plan in the enterprise annuity of America is introduced in detail;finally,drawing on the development wisdom of the US enterprise annuity,combining with China's national conditions,this paper proposes several suggestions as following,to introduce an "automatic joining" mechanism,to set up qualified default investment tools represented by life cycle funds,to reduce the entry threshold of SMEs,to increase publicity and enterprise annuity risk income,to perfect laws and regulations on tax incentives,and to optimize the regulatory mechanism.