Analysis Of The Operational Efficiency Of China's Pension Insurance

According to the latest data,from 2015 to 2035,China's elderly population will enter a period of rapid development.At present,the population of elderly over 60 years old has exceeded 200 million in our country and is expected to increase to 400 million by 2035,which will have a very significant impact on China's economic,cultural and social development.In addition,as human aging is a natural law that we cannot avoid,everyone wants to spend their remaining years in happiness.Therefore,all members of society generally have certain demands on pension insurance.However,under the existing institutional framework of our country,there are still many defects,especially in terms of operational efficiency.Therefore,this paper first introduces the related concepts of pension insurance and its operation efficiency,then analyzes the current situation of the pension insurance operation efficiency in our country,including the expansion of the coverage,the gradual improvement of the overall management and the operation aspect of pension insurance system.Here,the operation aspect includes widening gap between income and expenditure and rising levels of expenditures.The paper analyzes factors affected the efficiency of China's pension insurance from macroeconomic environment,social structure,cultural concept,system design and management process.It elaborates the factors that affect the efficiency of China's pension insurance operation,including the ways,the processes and the results.Based on the experience of China's pension and existing research achievements,we construct a research framework to measure the operation efficiency of pension insurance by using DEA method.Also,with the help of BCC and CCR model,we calculated,evaluated and analyzed the operation efficiency of pension insurance.Then by comparing the comprehensive efficiency,pure technical efficiency,scale returns and economies of scale,we trace the factors that affect the efficiency of pension insurance system and find out the reasons of inefficiency.In conclusion,we proposed that promote economic growth,expand the coverage of pension insurance,raise social pooling level and narrow the difference of payment levels can solve the problem of inefficiency and provide desirable opinions for perfecting the pension.