Research On The Reform Of Basic Endowment Insurance For Urban Workers From The Perspective Of Sustainability

China’s population aging phenomenon is increasingly prominent,has entered a stage of rapid development,how to provide for the elderly is an unavoidable major social problem.Factors such as getting old before getting rich,fewer children,changes in family structure,and population mobility are impacting the traditional mode of "raising children for old age",resulting in the weakening of family pension function.We must improve the ability of the society to provide for the aged in order to meet the requirements of the aging society.As an important endowment insurance system,the basic endowment insurance for urban workers is facing huge payment pressure and its sustainability is seriously affected due to the decrease of enterprise contribution rate and the rapid growth of expenditure rate.It is of great practical significance to explore reform methods to enhance the paying ability of urban workers’ basic endowment insurance and reduce the risk of deficit so as to guarantee the retirement life of workers.Sichuan has a large population base,heavy pension burden,and relatively developed economy.It is representative and typical to take Sichuan Province as the object of studying the sustainability of basic pension insurance for urban workers.On the basis of reading lots of literature and understanding of scholars’ concerns and research methods,this paper tries to introduce the factors of population structure and enhance the sustainability of basic endowment insurance for urban workers in Sichuan Province by means of expenditure end parameter reform:Firstly,the data of the past 20 years were collected and sorted out to determine the current situation of the basic endowment insurance for urban workers in Sichuan Province,including the number and structure of the insured,the income,expenditure and balance of the fund and the replacement rate.The observation shows that the sustainability of basic endowment insurance for urban workers in Sichuan province is poor and needs to be reformed.Individual pension accounts are private property and will not be adjusted,while pooling accounts will be reformed to reduce expenses.According to the change of the system contribution support rate representing the insured population structure,the sustainable coefficient is calculated by comparing it with the target system contribution support rate.Based on the data in 2020,the use of age move calculate model,prediction of structure of the 2021-2035,introducing sustainable coefficient adjusted to fund spending over the next 15 years,and set limit to ensure retiree basic treatment,compared before and after the adjustment of fund operation condition,see if can improve and solve the problems of sustainable fund.The results show that by 2020,the accumulated balance of basic endowment insurance for urban workers in Sichuan province is positive,and the current operation is normal.However,all indicators have reached an inflection point,with downside risks and challenges ahead.The reform of expenditure parameters saves a total of 633.8billion yuan for Sichuan province from 2021 to 2035,and ensures the level of pension replacement rate.It stabilizes the benefits of retired workers while saving expenses,showing obvious effectiveness of the reform.In the future,it is an inevitable choice to ease the expenditure pressure of the basic endowment insurance of urban workers in Sichuan Province and enhance the sustainable ability of the pension to continue to promote the reform of expenditure parameters,coordinate with the adjustment of population policy,increase the scale of pension investment,delay retirement,and implement the payment base and fixed number of years.