Research On Basic&Inclusive Pension Insurance System And Its Level

Through continuous development and improvement, China has formed insurance system that covers both urban and rural:Enterprise employee basic pension insurance system; public institution pension insurance system; rural and urban resident social pension insurance system, or rural&urban one based on the former two. However, due to the fuzziness of government responsibility, fragmentation of system, poor supervision and lagging relevant reform, China’s pension insurance system has many problems, such as enterprise employee basic pension insurance system is not so sound, large pension gap between different groups, etc.Under the circumstance of in troubled reform and successive new policies, reviewing top design of China’s pension insurance system and thinking about its theoretical basis are particularly important. Based on the bottom line fairness theory, from the perspective of shrinking pension gap between different groups, to start from establishing a fairly shared basic pension, to develop enterprise annuity and occupational pension as supplement, to set individual voluntary pension insurance as auxiliary, this thesis proposes basic&inclusive pension insurance system and answer its framework design, main parts and building points. After system construction, calculates basic pension reference line with the help of ELES model, by comparing the pension level between different groups, this system shows the pension gap between different groups is more fair, and by comparing the fiscal burden with the current system, finds that fiscal burden in this system increase firstly and then decrease, with the passage of time its advantage is more obvious, which means financial burden becomes lighter. Although from the perspective of system design and fiscal expenditure this system is a viable option, yet as it is an ideal system, there will be some difficulties in the process of implement, such as whether the public institution pension insurance system can be integrated or not, whether the intergovernmental relation can be smoothen or not, whether the pension insurance contribution base can be strengthen or not, whether a perfect pension management market can be formed or not, etc., in order to ensure the system runs smoothly, there needs to coordinate with some reforms like setting up a unified system, funding individual accounts, introducing market mechanism, improving relevant measures.