The Measurement Model and the Application of the Overall Balance of the Pension Fund

摘要

Setting up a complete pension system is an essential task for keeping China’s economic sustainable development and constructing a harmonious society. When the guarantee of pension changed from government to the payment capacity of pension fund, the balance capacity of the fund determines the sustainability of a specific pension system. This paper calculates balance of China’s pension fund according to aggregate balance calculation model under some actuarial assumptions. The conclusion is that enlarging pension coverage range, delaying retirement age, government paying implicit pension debt can obviously enhance the balance ability of China’s pension fund, but current small accumulation doesn’t work significantly to the long-term or middle-term balance of pension fund.