| Affected by many factors such as population aging and economic downturn,the contradiction between income and expenditure of China's basic endowment insurance is becoming increasingly prominent,and its sustainability is facing great challenges.In order to solve the above contradiction,the government can have three choices,that is,pressure spending;Increase income;The government made up for the gap.However,the population structure cannot be substantially adjusted in the short term,and due to the needs of social fairness and stability,the basic endowment insurance has a strong rigidity in the payout side,and it is difficult to reduce expenditure.At the same time,influenced by a series of adverse external factors,the government's finance will face great tests in the future,and its ability to "cover the bottom" of the basic endowment insurance may be very limited.Therefore,starting from the income end,constantly optimizing the financing mechanism of the basic endowment insurance and enhancing the "hematopoietic function" and self-balancing ability of the endowment insurance fund are the only way to alleviate the operation difficulties of the basic endowment insurance fund.In this paper,how to optimize the endowment insurance fund-raising mechanism,improve the basic old-age insurance fund operation as the research target,in combination with deepening the reform of Jiang Fei,collects pay system and adjustment funds of the central over proportion increase the policy background,in turn,collects pay selection mode,the overall level and the basic endowment insurance rate from three aspects,the analysis of the actual influence of them on the financing mechanisms,and on this basis,to explore the optimal path of financing mechanisms and implementation approach.The theoretical basis of this study involves government responsibility,institutional change,principal-agent theory and fund balance theory,and on this basis,it sets up a theoretical analysis framework to study the financing mechanism of China's basic endowment insurance.Clarifying the connotation of basic endowment insurance financing mechanism and operating mechanism on the basis of,combined with China's national conditions,using the theory framework,the comprehensive analysis of the basic endowment insurance financing in the whole process of the coupling relationship between various factors and function form,and divides the financing mechanisms for interrelated four aspects,namely financing responsibility,ability to raise funds,financing structure and financing level,and analyzes the four aspects of possible influencing factors,including:Fund-raising responsibility mainly involves the relationship between the rights and obligations of the government,enterprises and individuals,which is reflected by the proportion of share in fund-raising.In carding basic endowment insurance development in our country,as well as the financing subject and financing responsibility change,on the basis of the government responsibility and the institutional change theory,puts forward the government only in the basic endowment insurance financing,bear the cost in the point of view of system transition period,believe that the government in this limited financing present fiscal responsibility and contradiction between "out" policy,and analyzes the basic endowment insurance financing in our country present stage of all sorts of problems.The fundraising capacity can be measured by the collection rate,and the main factor that affects the collection rate in China is the choice of collection mode.Ongoing collects pay tax and fee system reform,the paper collects pay for different mode the principal-agent relationship between different subjects,conducted a thorough comparative analysis,and through the empirical study proves that compared with other models,the tax authority collects pay full responsibility model can significantly enhance the level of endowment insurance premium rate and the rate of current low,gradually increased to 73.35%-83.05% range.Funding structure is generally interpreted as the proportion of different funding sources in the total amount of funding.Different sources of funds can be understood as fund income in different regions.Just like tax,the income of basic endowment insurance fund is also characterized by "inequality rather than poverty",and the pooling level is the key factor to determine the balance degree of financing structure.This paper selects the transitional policy of national pooling of endowment insurance,that is,the central adjustment fund system,as the main basis to reflect the pooling level,and analyzes the actual influence of this system on the basic endowment insurance income and expenditure in each region.The empirical results show that,with the increase of the proportion of central adjustment fund system at the rate of 0.5% per year,and the continuous increase of the proportion of central adjustment fund system,the effect of "pumping out fat to make up for loss" can be realized,and the regional endowment insurance financing can be balanced.At the same time,in this paper,the annual growth of 5% and 20% over the two cases of a policy simulation,found that regulate strength increased rate of growth for "contribution to the province" produced negative motivation will be smaller,because in the realization of endowment insurance to plan as a whole of the country's node,and the cumulative contribution area balance remains relatively sufficient,manageable,will not bring balance deficit,increase financial pressure,local government should implement national endowment insurance plan as a whole as soon as possible.Fund-raising level is the core of fund-raising mechanism,which is affected by many factors.Fund-raising level is the core of fund-raising mechanism,which is affected by many factors.Based on the operability and feasibility of the optimization of financing mechanism,this paper selects the basic endowment insurance rate as the research object,and takes the relative income of the fund--the current fund balance as the measurement index of the financing level.Empirical analysis shows that the endowment insurance and fund the current balance on the actual rate and the nominal rate constitute the inverted u-shaped curve between the actual rate is rising curve segments,nominal rates falling in the curve section,it shows that under the background of empirical corresponding policy,nominal rates should fall further,the actual rate should be promoted.Based on the empirical results,combined with the related research results and the current policy environment,this paper made the following judgments,namely capture expends rate fell to 16% in 2019,combined with the actual condition of regional funds current balance at present stage,the name of the basic endowment insurance rate cut space is very limited,but the actual rate in the current tax authorities failed to release its collects pay ability under the background of fully,there is still a large room to improve.This paper explores the main factors that affect the operation of endowment insurance financing mechanism,and on this basis,puts forward the optimization goal and choice path of financing mechanism.In terms of optimization objectives,although China has tried a variety of new financing forms in recent years,such as state-owned enterprise capital transfer to pension insurance fund,these financing behavior exploration can only be regarded as external fund supplement,but does not belong to the real sense of the reform and optimization of financing mechanism.The optimization of the financing mechanism of the basic endowment insurance should be guided by the financing decision-making and execution level within the basic endowment insurance system,and the objective constraint should be to strengthen the balance ability of the basic endowment insurance fund itself.In terms of path selection,based on the consideration of comprehensive optimization of four mechanism elements,such as financing responsibility,financing capacity,financing structure and financing level,this paper puts forward several optimization paths,such as full responsibility collection by tax authorities,national pooling of basic endowment insurance as soon as possible and making the nominal rate of basic endowment insurance real.In order to judge the actual effect of objective optimization,this paper builds an actuarial model based on the fund balance theory,and simulates the results of the optimization of endowment insurance financing mechanism.At the same time,the evaluation index system of fund self-balancing ability is constructed,and the actual effect of the corresponding optimization path of financing mechanism can be estimated by combining the simulation results after optimization.The comparative analysis of evaluation indexes before and after path optimization shows that most of the indicators in the evaluation index system have been significantly improved compared with the baseline situation after optimization,which proves that the choice of optimal path can indeed produce a certain positive effect on the endowment insurance financing mechanism.Finally,according to the above theory and empirical analysis,this paper puts forward policy suggestions to further strengthen the construction of China's endowment insurance financing mechanism.First of all,the principle of responsibility and benefit of each subject should be clarified,and the corresponding boundary of power and responsibility should be clarified by improving the formal system such as the Social Insurance Law.Secondly,combined with the three optimization paths proposed in this paper,corresponding policies are adjusted.At the level of collection mode,the implementation of collection system reform should be accelerated,the division of labor and cooperation between functional departments should be optimized,and the fund-raising efficiency should be improved by upgrading information technology and other means.At the level of pooling,the adjustment fund system should be transferred to the national pooling of basic endowment insurance as soon as possible,so as to realize the unified collection and expenditure of the fund and strengthen the balance between regions.At the level of insurance premium rate,we should further deepen the implementation of the policy of fee reduction on the basis of making the payment base real,and strive to realize the coordinated reform of collection and fee reduction.Finally,the realization of the optimization of the financing mechanism still needs to optimize the relevant institutional environment,adjust the structure of the source of fees by delaying retirement,financial subsidies and related tax incentives,create space for further policies to reduce fees,stimulate the vitality of the market,and contribute to the realization of the optimization of the financing mechanism. |
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