Evaluation And Optimization Of Pension Replacement Rate Level

If you ignore the inevitable overlap of some historic mission in individual historyperiod, today’s China is going through the historical turning point from a period which coreconcept is "efficiency and wealth creation" to another period which core concept is " equityand wealth distribution". If subdivide the historical mission of that times,"elderly will belooked after properly" is one of the preferred terms. The urban employees basic pensioninsurance as the most important institutional endowment way of today’s China, it’ insuredis the main creator of material wealth in the industrial age, just as the creation is the base ofdistribution, the system’ continuity and fairness has become one of the key variables thataffect the long-term development of China’s social economy. As the most importantmeasure of pension level, the pension replacement rate is an important but fuzzy problemand a hot issue nowadays. In this paper, the pension replacement rate as the breakthroughpoint, in the premise of comprehensive evaluation of the security level, from the twoaspects of structure and parameter, discusses the further optimize path.This paper is divided into seven parts：The first part is the introduction. This part mainly introduce the purpose andsignificance of the research,and the research status at home and abroad.In the part ofliterature review, nowdays study on pension replacement rate can summed up as three parts:"The theoretical category and statistical caliber","research paradigm and measurementtechnology","main research contents and ideas", and then made a simple evaluation andfollow-up prospects. The second part is introduce the present situation of the basic pensioninsurance and the replacement rate.This chapter defines the research object of this thesis,followed by the introduce of current Chinese urban employees basic pension insurancesystem it’s replacement rate. The third part to the sixth part is this article key point and thecore. From four contexts of "difference welfare model","recessive parameters","futuregeneration comparison","specific national context" to evluate existing pension replacement rate,the third chapter argues that today’ low level replacement rate has it’ inevitability,andrandom criticism on it is inrational. The fourth part is discussion about the first parameteroptimization path--how to improve the return on investment, analysis based on ModernPortfolioTheory suggests that improving the investment needs a tradeoff between risk andreturn. The fifth part is discussion about the second parameter optimization path two--analysis about whether to retire delay, this chapter from the sustained economic andsocial development macro background and the pension replacement rate incentive microsurface to explaine. The sixth part is discussion about the structure optimization path, thischapter suggests we should uphold the leading position of public pensions, through reviewthe theoretical foundation of public pensions, and discuse the relationship bettween ageingof the population and financial sustainability of PAYG public pension, discuse the publicpension reform in China, this part focuses on the necessity and feasibility of publicpension,argues that we should adhere to it’ dominant position.The seventh part is theconclusion and summary.