| The age structure of my country’s population is accelerating toward aging.The National Bureau of Statistics predicts that by 2060,my country will enter a severely aging society,and the number of people aged 65 and above will account for nearly 33%of the total population.Aging will become a basic national condition for a long period of time in the future,which will have an impact on many fields such as economy and social security,and the impact on China’s old-age security system is particularly profound.In the "14th Five-Year Plan" and the"2035 Vision Plan" passed by the Fifth Plenary Session of the 19th Central Committee,it is proposed to implement the "national strategy to actively respond to population aging".To reduce the negative impact of population aging on the old-age insurance system,the pension fund must continue to operation smoothly.Adjusting the level of pension benefits can directly affect the expenditures of pension funds,thereby helping to achieve the balance of fund revenue and expenditure.Therefore,the pension benefit adjustment is an important tool to promote the sustainable development of pension funds.Using literature research method,qualitative analysis and actuarial simulation method,this paper first summarizes the research results of domestic and foreign pension benefits adjustment motivation,adjustment basis,policy effect and the difficulties faced by pension reform.It also sorts out the development status of my country’s basic old-age insurance benefit adjustment and summarizes the problems of the current system.Secondly,it studies the pension benefit adjustment mechanism of Germany and Japan,and draws on the experience of their pension benefit reform.On this basis,considering the negative impact of population aging on the financial sustainability of pension funds,this paper introduces a sustainable factor into the pension benefit adjustment model,and a basic pension benefit adjustment model for urban employees is constructed with real wage growth rate,inflation rate and dependency rate as parameters.Within the moderate adjustment range of pensions,four adjustment schemes are obtained according to the different values of the adjustment coefficients.Finally,establish an evaluation model for the adjustment of urban employees oldage insurance benefits.Based on macroeconomic forecast data and the setting of relevant parameters,the replacement rate level of each scheme and the balance of income and expenditure of the pension fund are calculated to test the adequacy of pension benefits and the financial sustainability of the fund.The calculation and analysis results show that,compared with the current pension benefit adjustment system,the urban employee pension benefit adjustment model and the optimal adjustment scheme constructed in this paper not only achieve the function of guaranteeing the basic living standard of retirees but also delay the appearance of the fund gap and can significantly reduce the size of fund gap.Under the reality that the aging process is accelerating and deepening,the financial sustainability of pension funds will be significantly enhanced.Therefore,this paper optimizes the design of the pension benefit adjustment model for urban employees,which can provide a certain reference for the design and practical application of my country’s pension benefit adjustment mechanism,so that the old-age insurance system can better cope with the retirement tide caused by population aging.At the same time,the adjustment mechanism of pension insurance benefits is aimed at the reform of the expenditure side of pension funds.In the long run,to reduce the impact of population aging on the pension insurance system,it is necessary to cooperate with the reform of the fund income side,the balanced development of the second and third pillar pension insurance systems,etc.So as to better guarantee the pension benefits of retirees and enhance the financial sustainability of the fund. |
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