The Benefit Analysis Of China's Endowment Insurance From Double-track Systems To Integration System—The Cetralized Reform Of Japan's Public Pension System

Endowment insurance system, aiming at offering protection for the aged and realizing social re-distribution and social equity, is an essential part of social security system. Before 2015, two different endowment insurance systems, namely double-track system, were implemented between the public institutions and enterprises. The double-track endowment insurance systems which worked very well during the period of planned economy is no longer suitable for the current economic system and also causes many problems. In the double-track systems, there are some differences in source of fund, the way of calculating and granting and retirement benefits between public institutions' endowment insurance and enterprises' endowment insurance, which affected social equity, caused strong dissatisfaction among the workers of enterprises and restrained the reasonable movement of staff. In addition, the payment of endowment insurance in public institutions is not related to salary and the endowment insurance is afforded by the government, which imposed great pressure to the government finance.This thesis introduced the development history status quo of endowment insurance system of China and analyzed the differences of the double-track systems and its advantages and disadvantages. At the same time, the author also studied the centralized reform of public pension system of Japan. Japan has merged the mutual aid pension into employees' pension, by which the pension systems of enterprises and public institutions are unified. The centralized reform of public pension system of Japan sets a good example for China to reform the systems. The author ended the thesis by analyzing and forecasting the benefits brought by the reform of endowment insurance systems. After making before-and-after study on the reform from the view of benefit, the author drew a conclusion that the reform could eliminate the differences of endowment insurance between the public institutions and enterprises, realize social equity, promote staff movement, reduce financial burden and increase social welfare.