Study On Risk Assessment And Countermeasures Of Individual Accounts Of Public Pension Insurance

In the 1990s,Chinese government creatively introduced individual account system and implemented partly funded system in response to the impact of population aging on the basic pension insurance system.The basic pension insurance system combining social pooling with individual account has been operating for more than 20 years.The individual account system has undergone changes in the external environment.The replacement rate of the social average wage of the pension for individual accounts of the basic old-age insurance in our country continues to decline,and the target replacement rate"falls behind”.The risk of individual account systems for basic endowment insurance in China has increased,and the effectiveness and sustainability of the system have been questioned.The level of pension replacement rate in the basic pension insurance personal account is an important indicator to measure the level of personal account system protection and system effectiveness.Therefore,this article is based on the theory of life cycle and takes the replacement rate of personal accounts pension as the entry point.Analysis of the risks faced by the personal account of the pension insurance.By constructing an individual account pension replacement rate actuarial model And analyzing the effect of s:ingle factor changes and multi-factor crossover changes on the replacement rate of individual account pensions under these parameters,such as contribution rate,retirement age,return rate,and average social wage growth rate.Next,assessing the degree of risk faced by our country's personal account system based on the results.The actuarial results show that the replacement rate of the individual account pension under the current policy of our country is too low,which is lower than the target replacement rate.The other conditions are constant,improving personal account payment rate,yield and extending retirement age will help to improve our current personal account pension replacement rate.However,the increase in the average social wage increase will exacerbate the dilemma of the current pension replacement rate of individual accounts.According to the actuarial results show that delay the retirement age,regulate personal account payment behavior,change the empty account to the real account and improve the income level of the fund,expand and separate the accounts of the individual accounts is beneficial to the prevention of personal account risk.