On Treatment Level of China’s Basic Endowment Insurance System

Shusong Ba ()

Chapter Chapter 23 in The New Cycle and New Finance in China, 2022, pp 163-179 from Springer

Abstract: Abstract In recent years, China’s basic endowment insurance system for urban workers and urban coexisted with that for rural residents. Within the same framework, this paper uses the actuarial model to calculate the basic endowment insurance treatment of urban workers and urban and rural residents by using the four indicators of total replacement rate, net replacement rate, total relative level and net relative level. The results show that there are gender differences in endowment insurance for urban workers, regional differences in endowment insurance for urban and rural residents, and that the level of endowment insurance for urban workers is higher than that for urban and rural residents. Then, this paper makes a sensitivity analysis of the three factors that affect the treatment: retirement age, return on investment and treatment growth mechanism and finds that these three factors have an important impact on the treatment level of the two systems, and that their impact on the treatment level of endowment insurance for urban and rural residents is greater than that on the treatment level of endowment insurance for urban and rural residents. Finally, it puts forward some policy suggestions, such as increasing government subsidies, making sound system transitions, appropriately extending the retirement age, improving the rate of return on investment and improving the treatment growth mechanism.

Keywords: Basic endowment insurance for urban workers; Basic endowment insurance for urban and rural residents; Replacement rate; Relative level (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-16-8209-4_23

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DOI: 10.1007/978-981-16-8209-4_23

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