The Research On Moderate Substitution Rate Of Defined-contribution Occupational Pension And The Achievement Path

Population aging, shrinking working-age population is placed in front of our national retirement security insurmountable obstacles.At this stage,China's old-age security system is still mainly based on the basic pension,corporate pension and personal savings are in order to complement.Since the state basic pension investment rate of return is relatively low,and the groups of paid are become increasingly large,the basic pension payment accounts are already overburdened,so vigorously develop the occupational pension based on the enterprise supplementary pension insurance is particularly important,the level of occupational pension's substitution rate is extremely urgent.Based on this,paper focuses on two issues,what is the moderate levels of China's defined-contribution occupational pension;second is how to use the factors that effect rate of the occupational pension,make it reach a moderate level,in order to alleviate the other endowment insurance props of the pressure, and steadily raise the national post-retirement standard of living.The thesis has told that the purpose and the background of the study,research ideas and content,occupational pension relevent literature review at first; Secondly introduced the concepts and classification of the occupational pension and the substitution rate,combing the development process of China's Occupational Pension and summarizes the problems of the development process, paper discusses the meaning and the method to identify China's moderate levels of the occupational pension;thesis research focused on defined-contribution occupational pension replacement rate of factor analysis,as well as the achievement path of the defined-contribution occupational pension's moderate substitution rate. Specifically, through the occupational pension's actuarial model, paper analyses the sensitive of the various effect factors in the model,and get the factors that ampliy occupational pension's substitution rate are legal retirement age, interest rate level,occupational pension investment rate of return and occupational pension pay level, the factors that reduce occupational pension's substitution rate are the beginning working age, the maximum death age and wage growth.furthermore, with the change of each effect factors, sensitive degree shifts, particularly among occupational pension investment rate of return. Combined with China's actual conditions paper determines the three controllable factors,legal retirement age, occupational pension pay level and occupational pension investment rate of return, thesis demonstrates focus on proving the achievement path of China's defined contribution occupational pension's moderate substitution rate, that is to postpone legal retirement age step by step, to protect occupational pension rate of return on investment warning levels, maintain or reduce occupational pension pay level. The final conclusions based on research for the future development of China's occupational pension policy recommendations.