Research On The Operation And Development Of China's Occupational Pension System

In order to alleviate the various pressures brought about by the aging of China's population,and to achieve social pension equity,Chinese government reformed its pension insurance system concerning with the staff of all kinds of institutions in January 2015,in which the pension system related to the public departments has been transformed from traditional financial support to social insurance.And Chinese government established a professional pension system for the staff working in institutions in March2015.As the supplement to Chinese institutional pension insurance system,the occupational pension has the important meaning,which can drive the the reform of merging the existed pension,promote social equity,break the barriers to human resources mobility and optimize the configuration of resources.However,during the operation and development of the occupational pension system,our government is faced with many difficulties and challenges,therefore,the steps of carrying out the system is quite slow.Based on the above situation,I investigated the current situation of the operation and development of China's occupational pension system in this paper.Specifically,I analyzed the existing problems from three angles,including government,management agencies and the covered crowd.At the meantime,I explored the underlying reasons for the slow implementation of this policy to put up with practical suggestions for improving the occupational pension system in China.The article mainly consists of five parts: In the first part,basing on the basic concept,I described the connotation,characteristics and types of occupational pension;defined the concept of occupational pension fund raising,transfer and payment;compared the similarities and differences between occupational pension and enterprise pension;and analyzed the necessity to strengthen the construction of the occupational pension system.In the second part,I figured out the establishment and development process of China's occupational pension system through data analysis,field research and interviews;understood the relevant institutions whose duty is to handle the work related to occupational pension management;and dissected the current status of the system by taking Shanxi Province as an example,which laid a realistic foundation for the further research.In the third part,I analyzed the problems existing in the implementation of the system from three angles,including government,management agencies and the covered crowd.Specifically,the problems includes imperfect design of the top level of the system,potential risk in the virtual account operation,insufficient supervision,inefficient construction teamwork,backward information system,unclear Business process and misunderstanding from the people at all ages.In the last field,there is the indifference from the elderly people,the misunderstanding from the mid-aged people and the worries about their future life from the young people.In the fourth part,I explored the deep reasons for the sluggish implementation of this policy,and found that the basic reasons lies in incomplete rules and regulations,insufficient government support and narrow institutional coverage that can cause new injustices in society.In the fifth part,to handle the existing problems in the implementation process of China's occupational annuity system,I put up with specific countermeasures from four aspects: firstly,at the level of institutional system,we should actively accelerate the step of establishing practical laws concerning with the occupational pension,build scientific mechanism to control the investment of occupation pension and supervise the related fund,improve the enterprise pension system;secondly,Chinese government should expand the related publicity,increase financial support,realize financial“virtual accounts",and quicken the reform of the supporting system;thirdly,at the level of the agency,I proposed to create a special organization to manage the fund of the occupational pension and enterprise pension together,standardize the process of handling occupational pension,enhance the professional quality of the staff in the handling agencyand accelerate information construction;lastly,I thought that we should carry out a differentiated occupational pension plan,provide flexible ways of payment and withdrawal for the insured population,free personal investment options to satisfy the requirements of different crowd.