Life Expectancy Heterogeneity Of Different Insured Groups Of Basic Endowment Insurance For Urban Workers And Its Effect On The Actuarial Balance Of The Fund

The basic endowment insurance for urban workers is an important component of China's social security system and guarantees basic living for retired workers.In recent years,the basic endowment insurance for urban workers is at the risk of failing to offset their expenditures.Thus,the fund's income and expenditure situation is the focus of many scholars.However,previous studies have neglected the important factor of the life expectancy heterogeneity of the insured groups.In fact,there are systemic differences in officials,employees,flexible employees,and other urban residents.Similarly,within the basic endowment insurance for urban workers,there are also different types of participation,income,household registration,and regions of the insured groups.This paper is particularly concerned with the large number of groups that have appeared in various places in recent years and who have paid to participate in the basic endowment insurance for urban workers in Zhejiang Province.The average age of this group is large,the payment time is short,and the period for receiving treatment is long.Although it will increase the number of people participating in insurance and fund income in the short term,it will bring great pressure to the fund in the long run.What is the difference between the law of life of this insured group and the average urban population?If the factor of the life expectancy of this insured group is taken into account,what is the impact of this group's participation in the insurance on the income and expenditure of the entire social security fund?In order to answer these questions,based on the micro-database of city A in Zhejiang Province,this paper compiles a gender-specific life table for the 221 document insured group and the non-221 document insured group.Based on the gendered life tables and microscopic databases in the above two groups,the basic information and social security information of the insured persons,under the assumption of life parameters,socio-economic parameters and institutional parameters,the basic endowment insurance income and expenditure for the 221 document insured groups and non-221 document insured groups from 2016 to 2050 are estimated respectively.At the same time,this paper uses the gender-specific life table of city A calculated by the sixth census data to calculate and study the income and expenditure of the basic pension insurance of the insured group from 2016 to 2050,and compares differences of the income of funds based on different life tables.The estimation results show that the life laws of the 221 and non-221 documents insured groups are different,and the average life expectancy of the two groups in the 50 and 60 age groups are 2.56 and 2.65 years respectively;urban inhabitants and urban population have different death laws,the average life expectancy gap between the two groups in the 50-and 60-year-old age groups were 2.67 and 2.21 years,respectively;Comparing the results of regardless of the life expectancy heterogeneity of the insured groups and taking the life expectancy heterogeneity in to account,the gap between measured results in 2050 reaches 5.38%.