Study On The Reduction Of The Contribution Rate Of Liaoning Urban Workers' Endowment Insurance Based On The Financial Subsidies Proper Level

In terms of the contribution rate of endowment insurance currently in China,enterprises and individuals have assumed a heavier liability for payment.According to statistics at present,the contribution rate of endowment insurance of urban employees in China is as high as 28%,which urban employees bear a small part and are required to pay 8% of their wage income.Enterprises have to bear relatively large responsibilities and pay 20% of their total wages.The high contribution rate not only constrains the vitality of the enterprise but also restricts the accumulation of pension funds.In order to solve this real problem,the State Council promulgated the "the Thirteenth Five-Year Plan for National Economic and Social Development of the People's Republic of China",which clearly states that the contribution rate of social insurance should be appropriately reduced.Subsequently,on April 14 th,2016,the Ministry of Human Resources and Social Security of the People's Republic of China and the Ministry of Finance jointly issued the “Notice on Phased Reduction of Social Insurance Premium Rate”.The“Notice” points out that from May 1st,2016,the basic contribution rate of endowment insurance for urban employees shall not exceed 20%.Provinces,cities and regions that exceed the upper limit of 20% maximum contribution rate shall reduce the proportion of basic endowment insurance contributions to 20% or less;Provinces,cities and regions whose contribution rate is 20%,but have accumulated relatively enough pension fund for paying for more than 9 months by the end of 2015,shall conduct phased fee reductions within two years until the payment ratio is less than 19%.According to a series of policy announcements issued by the state,the current proportion of urban endowment insurance contributions is too high,and the reduction of fees has attracted high attention of the government.However,the payment rate of endowment insurance and other endowment insurance system factors have a complex linkage and impact relationship,small changes of which will affect the whole body.How to judge if there's any space for the urban endowment insurance fee reduction to keep the long-term balance of pension fund? If such space for fee reduction exists,then how much can the endowment insurance contribution rate be reduced to under the financial subsidy?This thesis takes the basic endowment insurance for urban enterprise employees asan example.Under the premise of ensuring that the basic pension fund operates normally and the level of basic pension benefits remain unchanged,I use the actuarial model to simulate the reduction space of the basic endowment insurance contribution rate in order to provide basis for government decision-making.In addition to the introduction,this thesis is divided into five chapters.The specific content is as follows:The first chapter is about the definition of related concepts and basic theories.This chapter mainly defines the connotation and extension of the four important concepts that need to be used in the study.It also briefly discusses related basic theories such as the optimization of taxation system,the model of intergenerational overlap,the level of social security,and the balance of income and expenditure of pension funds.The second chapter analyzes the status quo of the payment of endowment insurance for urban enterprises in Liaoning Province and the necessity of fee reduction.Through statistical data,I've analyzed the status quo of the pension payment for urban employees in Liaoning Province and presented theoretical explanation of the implementation of urban employee pension fee reduction.The third chapter,I've analyzed the problems of historical pension welfare owed in Liaoning Province and combined three factors that affect the financial subsidy,which are urban population,local fiscal income level,and the wage level of urban employee,to build a financial subsidy model.With all these together,I've calculated the financial subsidy level for urban employees' endowment insurance fund in Liaoning Province from1996 to 2044.The third chapter lays a foundation for the fourth chapter to build a space model for urban employee pension fee.The fourth chapter calculates and analyzes the space for reduciong the urban employee pension insurance in Liaoning Province.By measuring the gap in the current contribution rate of the pension insurance fund,and then combining the financial subsidies of Liaoning Province in the same time period to fill.With the remaining financial subsidies available,it is possible to reduce fees,so as to measure the space for pension insurance contributions to fall,then the gap between the payment rate and the actual payment rate can be regarded as the optimal payment space under the current financial subsidy.The fifth chapter is on conclusions for basic research and suggestions for related policy.