The Adjustment And Adaptability Of China's Endowment Insurance System

Despite the fact that endowment insurance system and labor market respectively belong to social security and labor economics,two different research fields,they relate to and interact with each other.Now,the development China's economy and society has brought about brand-new challenges to the labor market while endowment insurance system is beset with numerous contradictions by its internal defects and external issues.In this case,this paper conducted a study of the adjustment and adaptability of China's endowment insurance system from the perspective of the labor market.In combination with the details of China's endowment insurance system,this paper analyzed the development situation of the labor supply,labor demand and labor resource allocation of China's labor market.Results of the study were concluded as follows: China's endowment insurance system is not adaptable enough to the increase of labor supply in terms of quantity and quality,reducing labor cost,lifting labor demand,as well as laborers' employment selection and the free turnover in labor market.Hence,we came to a conclusion that currently,the adaptability of China's elderly care insurance system to the labor market is relatively low.Focusing on this issue,this paper put forward the view that the circumscribed thought that only internal adjustment is necessary to endowment insurance system shall be changed,and the idea that coordinated development of elderly care insurance system and labor market shall be promoted ought to be established,base on which this paper proposed that,with full consideration of the adaptability of endowment insurance system to labor market,China's endowment insurance system shall be adjusted and perfected in terms of labor supply,labor demand and labor resource allocation in order to enhance its adaptability to labor market,achieve a healthy and well-organized labor market,and enable the balanced,sustainable and coordinated development of labor market and endowment insurance system.