Research On The Financial Problems Of The Pension System In Japan

The pension system is the inevitable outcome of the market economy, and the financial problem is the basic contradiction running through the development process of the pension system. In21Century, It is that an aging population and low fertility increasingly serious cause disequilibrium of labor market. The existing old-age insurance system is difficult to adapt to the change of the population structure. With slower economic growth and economic depression era coming, the financial crisis in public pension of governments of all countries in the world is increasingly serious. Japan is one of countries there is perfect security system and more successful effect in pension fund investment and operation, the Japanese government achieved some success in reducing the pressure of the government to the pension fund through a variety of effective value approach in recent years. In order to reduce the fund gap and seek ways to improve China’s pension benefits, we can put forward the countermeasures to perfect Chinese social endowment insurance fund management by learning from the experience of Japan.This paper can be divided into the following several parts:the first part outlines Japan’s public pension system from the basic framework, main features and historical development etc. The second part focuses on the analysis of the Japanese pension system finances, including the Japanese pension raise and payment etc. The third part introduces the Japanese pension fund investment and operation and combines with the portfolio theory to analyze the operation principle and mode of Japanese pension fund. The fourth part systematically analyzes the reform of pension system in Japan after the Second World War, through the analysis of the various reform program and system, the development trend of Japan’s public pension system are summarized. The fifth part proposes consummates countermeasure for Chinese social endowment insurance fund management through the experience of pension system reform in Japan.This paper discusses the financial issues surrounding the Japanese pension system, using the principle of institutional economics to analyses the influence of Japanese economic changes to the reform of pension system and its future development trend, also using Institution Change Theory to put forward the reform proposals on the future development of China old-age insurance system. The paper constructs the simple mathematical model of the Japanese pension income redistribution and makes effect analysis. About the pension fund investment operation, the paper constructs two element regression’s model to make an analysis of the action of volume of GPIF mechanism to debt market and its impact, which proves that Japan’s current pension system is superior to other countries under the same economic population environment and it is feasible to establish pension fund investment operations to preserve and increase the value. This paper also put forwards development direction and suggestions on the reform of China’s social endowment insurance system management operating etc from widening financing channels, improving the method of payment, increasing government investment to make up the financial gap and the establishment of specialized operations.