Research On Moderate Replacement Rate Of Enterprise Annuity In The Construction Of Multi-tier Pension Insurance System

The construction of a multi-tier pension insurance system is of great practical significance for ensuring and improving the quality of life of the people after retirement and maintaining social stability and harmony.Since the beginning of the 1990 s,China has begun to explore the construction of a multi-tier pension insurance system.After 30 years of exploration,it has initially formed an institutional framework for a multi-tier pension insurance system.However,in actual operation,China has not really formed a“three-legged” pension system.The national pension is over-reliant on basic endowment insurance,and other levels of pension protection are extremely unclear.However,the development of population aging has pushed China into the critical period of stereotyped construction of multi-tier pension insurance system.Therefore,it is necessary to clarify the security functions and positions at all levels as soon as possible,and promote the development of China's multi-tier pension insurance system.In this paper,we take the moderate replacement rate of enterprise annuity as the research object,aiming at giving full play to the supplementary role of enterprise annuity.By studying the relevant research literatures at home and abroad to sort out the research results of enterprise annuity replacement rate,it is found that there are not many research results on the analysis of the appropriate replacement rate of Chinese enterprise annuity from the perspective of multi-tier pension insurance.This paper uses Life Cycle Hypothesis theory,Deferred Wage Concept and "Decommodification" theory as the core theoretical basis to guide the research on the appropriate replacement rate of enterprise annuity.Refer to the standards of OECD countries,qualitatively analyze the international value of the moderate replacement rate of enterprise annuities in the multi-tier pension system,and determine the moderate replacement rate of Chinese enterprise annuals through historical considerations.Combined with the actuarial model,qualitatively analyze the parameters of each influencing factor under the moderate replacement rate,and through sensitivity analysis,understand the influence of core parameters on the moderate replacement rate of enterprise annuity.Finally,through the empirical analysisof the actual replacement rate of enterprise annuity,quantitative analysis of the main reason for the actual replacement rate level is lower than the moderate replacement rate level,and proposes countermeasures and suggestions to achieve a moderate replacement rate of enterprise annuity.