| As the second pillar of the three-pillar system of old-age security,the occupational annuity plays an important role in solving the dual-track system of pension in China through the form of full accumulation of individual accounts,socialized market management and supplementing old-age security.In addition,the occupational annuity has the function of accumulation and investment,so it also plays a role that cannot be ignored in economic development and income distribution.The implementation of the occupational annuity system not only shares part of the pension responsibility for the basic social endowment insurance,but also brings a large hidden cost to the finance.This paper mainly studies the occupational annuity of our institutions and institutions from these two aspects.Replacement rate and hidden costs.The research ideas of this paper are from theory to evidence.Based on the existing national policies and academic research,the existing occupational annuity system in China is compiled,and the relevant supporting system of occupational annuity is also o btained through the analysis of the current situation of the operation of China's occupational annuity.Not perfect;the promotion of occupational annuities is not enough,the enthusiasm of units and individuals is not high enough;and the maintenance and appreciation of occupational annuities is not enough.Under the background of this research,the occupational annuity balance model is established.Based on the model,the three factors of investment return rate,wage growth rate and contribution rate are selected,and their occupational annuity income and expenditure are generated under different modes impact analysis.The result of the analysis is that under the pay-as-you-go system,the investment yield has no effect on the income and expenditure of the occupational annuity.The wage growth rate is positively correlated with the income and expenditure of the occupational annuity.The contribution rate and the income of the occupational annuity are also positive.Correlation;under the partial accumulation system,the investment return rate,wage growth rate and contribution rate are positively correlated with the income and expenditure of the occupational annuity;under the complete accumulation system,the income and expenditure of the three are also positively correlated with the occupational annuity.It should be noted that under the condition that the total amount of funds paid in the same year is the same,the total accumulated occupational annuity under the full accumulation mode is greater than the t otal accumulated amount under the partial accumulation mode,and under the condition that the total amount of the payment funds in the same year is the same,the occupational annuity under the full accumulation mode The total accumulation is greater than the total accumulation under the partial accumulation mode.Therefore,the positive impact of the investment return rate on the occupational annuity income and expenditure in the full accumulation mode is greater than the partial accumulation model.The empirical research in this paper mainly includes two aspects,one is the measurement and analysis of the occupational annuity replacement rate,and the other is the measurement and analysis of the hidden cost brought by the occupational annuity.In the research part of the replacement rate,according to the principle of account balance,that is,the final value of the employee's individual occupational annuity payment at the beginning of retirement is equal to the present value of the total occupational annuit y after retirement at the beginning of retirement,and the calculation model of the occupational annuity replacement rate is constructed.According to China's national conditions,reasonable setting of parameter values,and measuring the current occupational annuity replacement rate in China,it is obvious that the occupational annuity replacement rate of male employees in Chinese institutions and institutions is significantly higher than that of female employees,but the overall From the above point of vie w,it is lower than the target replacement rate of the country,and there is still much room for improvement.In order to understand more clearly the changes in the replacement rate of occupational annuities under the conditions of different investment returns,wage growth rates and contribution rates,this paper uses the two-two combination method to measure the replacement rate.From the calculation results,although the occupational annuity replacement rate is positively correlated with the contribution rate and the investment return rate,the occupational annuity replacement rate is more sensitive to the investment return rate,that is,the effect of the investment return rate on the occupational annuity replacement rate.Far greater than the contributio n rate.Therefore,we must pay special attention to improve the return on investment,pay attention to the investment process of occupational annuity,and achieve greater value preservation and appreciation.Moreover,China's current occupational annuity s ystem has obvious differences in the protection role of employees of different genders,mainly because the protection effect on female employees is weaker than that of male employees.This is mainly because the different retirement ages of male and female employees in China have resulted in different payment years.The retirement age of female employees is smaller than that of male employees.On average,female employees pay less than male employees.In personal accounts,the total amount of female employee s is less than the total amount paid.Male employees;In addition,according to the life table information,women's survival rate is higher than that of men,women's survival period is longer than men's,women's retirement pension is longer than men.Since we are adopting the balance of payments model,the average occupational pension received by women after retirement is lower than that of men.The occupational annuity is weaker for female employees.Although there is still much room for improvement in the replacement rate of occupational annuities,it is undeniable that the role of occupational annuities in protecting the retirement life of employees after retirement,and to some extent,alleviating the burden of basic pensions for the elderly.Of course,everything has two sides.We can't just see the favorable aspects brought about by the occupational annuity,but ignore the invisible pressure it brings.Therefore,in order to study China's occupational annuity system more comprehensively,this paper immediately analyzes the hidden costs brought about by occupational annuities.In the calculation of hidden costs,the implementation of the occupational annuity system is the time,and the employees are divided into “old people” and “middle people”,and models are built to measure.Since the retirement age of female employees is earlier than the retirement age of male employees,the payment period of female employees under other equal conditions is less than the payment period of male employees.Therefore,the gap between the female employees of the “older” is greater than that of the male.In calculating the hidden costs of “middle people” workers,the model 1 measures the maximum and minimum values of hidden costs under relatively extreme assumptions.Model 2 is based on the proportion of the population of the age group in the sixth census to estimate the number of people of different ages of the “middle people” in the government and institutions,to measure the hidden costs of “middle people” employees of different genders.It is included in the estimation interval of Model 1.Whether it is female employees or male employees,the amount of hidden costs exceeds 100 billion yuan,the amount is very large,and the hidden costs of male employees are as high as 300 billion yuan,about twice that of female employees.The burden of hidden costs of “middle people” in government agencies and institutions in China is more concentrated in men.This is because the retirement age of male employees is greater than the retirement age of female employees.Under normal circumstances,male employees have longer working years and occupational annuities.At the time of implementation of the system,the male employees belonging to the “middle people” category have a larger age range and include more people.Therefore,the unpaid portion of the occupational annuity is larger than that of female employees.Comparing with the calculation results of the hidden cost of the "old man",the hidden cost of the occupational annuity "old man" i s far greater than the hidden cost of the "middle man",whether it is male or female.This is mainly because the “old man” employees have never paid the occupational annuity,and the personal account amount of the occupational annuity is zero.Therefore,all the vacancies have hidden costs,and the “middle-person” employees only pay less the occupational annuity for different years.The government only bears different degrees,so the hidden costs brought by the "old people" workers are even heavier.Of course,it is one-sided and inaccurate to judge the burden of the occupational annuity on our finances only from the amount.Relative to understanding the absolute amount of hidden costs,we should be more concerned about the supportable state of the state's f inances.Comparing the total hidden cost with the national GDP,it can be seen that the total hidden cost is much smaller than the GDP of the current year,and it accounts for a small proportion of the total GDP in the past five years.This shows that the implementation of occupational annuities brings a lot of hidden costs,which has caused a huge financial burden for the national government,but the gratifying is that this level of burden is not completely unbearable under the conditions of China's economic development.Moreover,the ratio of hidden costs to total GDP in the past five years is about one-tenth of the ratio of hidden costs to GDP of the current year.This shows that with the development of China's economy,the increase of GDP and the financi al burden of hidden costs.It has been alleviated,so we need to make proper use of economic development and rationally spread the hidden costs to different years to achieve a smoother transition.In the ratio of hidden costs to national income,when we turn from GDP to national income,the proportion of hidden costs has increased significantly,which shows that the implicit burden of the actual burden of national finance is even more Large,we must pay special attention to,and reserve emergency funds.But in the same way,if the ratio is reduced a lot compared with the total national income in the past five years,it means that as long as the hidden costs are reasonably distributed to each year,the burden can be decentralized.In general,the role of occupational annuity in efficiency and economic promotion is also the key to achieving the integration of old-age pensions and alleviating the pressure of basic pension insurance;at present,the replacement rate of occupational annuity in China is too low to achieve the target replacement rate;The occupational annuity replacement rate is lower than that of male employees;the substitution rate is particularly sensitive to the investment return rate,and the investment return rate is an important factor affecting the occupational annuity replacement rate;although the implementation of the occupational annuity system promotes the improvement of the pension mechanism,It has brought a huge hidden burden to the national finance.At present,although the hidden co st of the occupational annuity is not unbearable,it still needs to be taken seriously.Specifically,we need to continue to adhere to and improve the occupational annuity system,and further promote the development of occupational annuities;through various policies and measures,gradually improve the replacement rate of China's occupational annuity;pay more attention to the policy inclination of female employees,reduce the number of male employees Replacement rate gap;increase the investment return rat e of the occupational annuity account,achieve the maximum value-added on the basis of the value of the preservation;delay the retirement age to extend the payment period,shorten the occupational annuity collection period to ease the burden of hidden costs;Employees shall implement a proportionate partial replenishment method before the implementation of the occupational annuity,directly reduce the hidden costs of the “Chinese people” for the state;reserve financial emergency funds for hidden costs,and distribute the hidden costs to different years.The innovation of this paper is that,in addition to measuring the current occupational annuity replacement rate,it also selects three factors: investment return rate,contribution rate and wage growth rat e,which have important influencing factors on occupational annuity,and a combination of two and two to establish a bivariate model.Calculate different replacement rates;in addition,in the context of the integration,estimate the hidden costs of “middle-people” and “elderly” among employees of institutions and institutions across the country,and calculate the results with China's GDP and fiscal revenue and tax revenue.The proportion analysis has a direct understanding of the hidden financial burden on the pension of employees in government agencies and institutions. |
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