A Study On The Transfer Payment Of Social Security In China

With the development of social and economic changes, the social security system has made a significant achievement in the practice of the development process, while it also facing the new challenges. Increas ingly serious growi ng aging population, enterprises pension system reform, social pooling and individual accounts of the impact of the restructuring costs and ot her situations dam aged the sustainable development of social security system, run as a foundation and the ultimate fulfillment or the responsibility of the social secu rity system, the government has inescapable responsibility, then th e transfer paym ent of soc ial security is also increased to a significant extent. However, the support to development of social security system is not only a funds transfer move, but also a associated with other social comprehensive factors. Extensive social security transfer payment is not sustainable, as to not really solve the problem with the existing social security system in operation faced, such as pension funding gap, rigid social welfare spending and other social security solvency risk. So, in the process of social security transfer payment, the central government to the local government, the higher level gove rnment to the lower level governm ent must consider the risk of social security financial problems, because the financial risk has a strong negative external ity, once happened the financia l risk, the prom ises to social security transfer payment will have no method to achieve, it is not only directly caused a broad m asses people`s social secur ity benefits beyond achieved, but also bring a discount in trust and confidence of the social security system and the country. If blindly use the fiscal transfer funds to fill the funding gap of Social Security, it will be a no end of the "bottomless pit", on the one hand, In spite of the development effect on social security system for short term, in the long-term development perspective, it still can not elim inate the risks from the fundamental; on the other hand, the huge social security expenditure pressure needs to be a greater share of the social security transfer payment, so as to bring the e normous pressure of public finance, public finance burden can not withdraw committed to other relevan t social econom ic development and people’s livelihood planning matters, eventually led to the whole country’s fiscal risk.Therefore, in the study of China’ s social security transfer payment issue, it m ust be from the angle of risk control and long-te rm perspective, to analyze the transfer payment problems in s ocial security system with the p erspective of sustain able development and long-range. So that the transfer payment system of social security as a bridge between support func tion in the a spect of the social security sy stem construction and financing function, at the same time to our country finance without extra pressure. So in order to raise the level of social security and decrease the burden on government public finance, finally create a win-win situation.This paper, based on the related theories of welfare economics theory, the theory of effective demand, the theory of public goods, public expenditure theory, the theory of fiscal decentralization, fiscal risk managem ent theory and financial risk matrix to discuss and study the dialecti cal relationship between th e guarantee of transfer payment and social security financial transfer payment risk in the society. First of all, the social security transfer payment is the economic base of the social security system, then the state government as the last person in char ge with social security system is through transfer paym ents to achieve. Secondl y, financial risk a nd social security solvency risk complement each other, the two sides are each other causing results but also caused by the existing results. For instance, transfer expenditure reduced social security financial risk, create social security solvency risk; the gap of pension, welfare rigidity expenditure social security solvency risk existence make the social s ecurity system need m ore financial transf er payment, thus increa sing the f inancial risk. Therefore, this study should take both of them into consideration.By the quantitative analysis and present situation analysis of social secu rity transfer payments, it is concluded that China’ s social security transfer payment system has many problems. First of all, th e social security transfer pa yment risk is too big, and this risk act out a concentrated to the hierarchy of structural risk and disperse level risk, it bring huge pressure to our country finance; Secondly, unbalanced regional differences in effect and a little consequen ce in adjust the inco me redistribution, to show the p roblem of the social s ecurity transfer paym ent system in design and implementation aspect, there is a lar ger work space; Again, on the ef ficiency of transfer payment system of social secur ity, there are exist in sufficient funds, low social security level, unscientific funding form, lack of standardized management and legal safeguard, thus greatly reduce the ef ficiency of transfer paym ent on social security, no open, transparent, sim ple, and easy transfer payment of social secu rity system design, will no t be able to get a high level, high quality, high efficiency of social security transfers effect; Finally, on the issue of so cial security power and responsibility division between the central government and local governm ent, the higher level government and lower level government, there are exist problems such as unclear responsibilities, asymmetry of financial powers, undefined focus and separate. In theory, the central governm ent can do fu ll responsibility, unified with the sam e level of social security service products, however, the central government stand at the height of the country unable to specific concerns of the people demand difference between different regions and preferences, highly centralized financial system will bring greater efficiency loss.So m ust be from the perspective of local governm ent decentralization, to prov ide social securi ty services products, properly handle the contradictions between "undersupply" with "idle supply". Then aim at the problems in social security transfer payment system in China and the system itself, draw lessons from the social security transfer payment advanced international experience, take a full consideration in fair and ef ficiency, rigid elastic competing choices to m ake proper policy arrangement.This study standing the risk control management perspective, and this risk comes from the development of the social security system faces financial risk and overall financial risk of paying social security, established a social security transfer pay ment system, account all the risk factors for social secur ity system in the current period or later development will be f ace into. G ive full pla y to the so cial security system of "self-sufficiency" ability to run social insurance programs, constantly revising and improving the social security system, build up a unified social security public supply services system. Then follow corresponding social security system of transfer payments more than just a sim ple increase in the supply of finance, but without increasing the pressure on government finances on the basis of extensive change in the traditional social security transfer payment, targeted to solve the big problem in social security system- "Funds are not sustainable", balanced regional development level of social security, improve the whole service level of social security, make social security services nationwide equalization, and conduc ive to China’ s financial system, the sustainable development of the social security system.