Pension Challenges and Pension Reforms in Oecd Countries

The 30 OECD member countries have very diverse pension systems.Current old-age public pension spending varies between lessthan 1 and more than 10 per cent of gross domestic product (GDP).Public spending on pensions per person aged 65 or over variesfrom less than 15 to more than 40 per cent of economy-wide GDPper head. For workers entering the labour market today, thetarget pension from all mandatory sources for an average earnervaries between 30 and 100 per cent of individual earnings. Recentpension reforms have a number of common themes. First, pensioneligibility conditions have been tightened. Second, the indexationof pensions in payment has become less generous. Third, somepension schemes link benefit levels to changes in life expectancy.Finally, a number of countries have introduced defined-contributionpensions: privately managed schemes where the pension benefitdepends on contributions and investment returns. Footnotes ¹ E-mail addresses: peter.whiteford{at}oecd.org; edward.whitehouse{at}oecd.org     

日韩养老金制度改革比较与借鉴

人口与劳动力市场变化是日本和韩国养老金改革的共因,但日本改革略显亡羊补牢,韩国则属未雨绸缪;从改革措施来看,两国都采取提高缴费率、降低替代率等方法缓解养老金财政困境,区别在于日本政府养老金财政的作用更突出,且属于缴费模式,韩国则属于税收模式;从成效来看,改革缓解了但并未根除两国养老金财政压力,两国当前养老金待遇在发达国家中较低,但韩国养老金再分配功能强于日本.鉴于中国耒富先老的典型特征,应该建设生产主义模式的养老保险制度,通过构建基础层次的城乡二元国民年金制度快速提高养老保险覆盖面,同时,尽快建立长期的社会养老政策战略计划,并建立中央政府直接监管养老金基金管理机构.     

Pension Plan Choice among University Faculty

A pension plan is an important component of lifetime earnings, and thus the decision between a defined benefit pension and a defined contribution pension is an important one. This study uses data from annual faculty censuses of the University of North Carolina system, where new hires are given a choice between a state defined benefit pension and a defined contribution plan. Newly hired faculty members who are older, female, and nonwhite are found to be more likely to choose the defined benefit plan. Some differences across university Carnegie classification are also seen. In addition, a declining trend in defined benefit participation is shown.     

国有资产充实养老保险基金方式的选择

利用加入内生变化国有资产的代际交叠模型，我们分析了国有资产对社会福利水平的影响。研究结果表明，在动态效率经济中，全部国有资产及收益用于投资，经济在黄金律水平均衡，私人消费水平最大化；而如果长期将部分国有资产收益用于支付养老金等消费用途，则稳态资本存量低于黄金律水平，私人消费水平下降。在动态效率条件下，利用变现国有资产充实养老基金优于建立国有股权型养老保障。     

中国改革和体制转型的制约因素

文章指出中国的改革是在起点很低的历史条件下开始的,在改革推进过程中市场机制和计划机制的摩擦与冲突异常剧烈。随着改革的不断深入,社会转型滞后问题越来越突出,严重阻碍经济转型,而来自旧体制的阻力则是推进改革和体制转型的最大难点。从30年改革和体制转型的经验来看,要继续推进改革,必须进行制度创新,因为制度的根本性是解决其他矛盾和问题的根源。     

企业年金模式的优化选择

企业年金计划按照筹资和运作模式的区别广义上可分为“确定给付计划(defined benefit plan．缩写为DB)”和“确定缴费计划(defined contribution plan．缩写为DC)”两种模式。本文从企业年金理论角度和历史发展沿革方面对这两种模式进行了全面的分析，主要探讨我国新施行的《企业年金试行办法》中所规定的企业年金运营模式的合理性。认为DC计划和DB计划各有利弊，应该相互补充。在我国企业年金发展初期，不宜将运行模式限制为单一模式，不宜对每一角色的定位加以严格限制，不应排斥DB计划，但从长远来看，DC计划应成为我国企业年金的主导模式。     

日本年金制度及对我国的启示

日本是东亚国家中工业化最早、老龄化程度最高的国家。日本在向老龄化社会转变的过程中,建立了比较完善的年金制度,即养老保险制度。为了适应人口老龄化和经济不景气等的需要,日本年金制度又进行了多次的调整与改革。本文以制度创新的成本、收益分析为框架,考察了日本年金制度的变迁,分析了日本人口年龄结构和家庭、性别结构,认为日本"现收现付制"的年金制度存在代际间负担义务不平等、代内年金保险费缴纳不平等和性别不平等等问题。日本年金制度对我国养老保障制度完善具有一定的启示意义。     

Pension fairness in China

The most populous country in the world, China faces immense socio-economic challenges providing adequate pensions to its growing elderly population. In that country, pensions available to older people vary considerably across the country's various pension schemes. This paper calculates the fairness coefficients of these pensions based on pension income, contributions, demand, and generational gap. The analysis shows that the pension fairness coefficients are 0.53, 0.38, 0.95, and 0.82, respectively. Synthesizing pension income, contributions, demand, and generational gap, the paper suggests that, in China, old-age pensions across different schemes are absolutely unfair. Finally, it analyzes the superficial and deeper factors behind pension unfairness in China before providing policy recommendations for improving the fairness of the country's pension system.     

The Structural Pension Reform in Chile: Effects, Comparisons with Other Latin American Reforms, and Lessons

Chile pioneered a structural reform in Latin America that privatizedits public pension system and influenced similar reforms inanother nine countries. Twenty-five years later, this articleevaluates the macroeconomic, microeconomic, and social effectsof this reform in Chile and the other countries in the region,and extracts lessons from those experiences. Fiscal costs ofthe reform have been high and prolonged, exceeded capital accumulation,and had a negative impact on national savings, but Chile's reformhas contributed to the development of capital markets; employer'scontributions were eliminated or reduced in half of the countriesand the worker's share in the total contribution averages 65per cent; competition is afflicted by a small number of administratorsand a high level of concentration; administrative costs arehigh and stagnant; capital returns are fair but declining; portfoliodiversification has been achieved only in Chile and Peru; labour-forcecoverage has declined in all ten countries, and gender and incomeinequalities have expanded. Footnotes ¹ E-mail addresses: aarenas{at}dipres.gob.cl; cmesa{at}usa.net     

Rethinking Pension Reform in China

I. IntroductionIn the last decade, social insurance has been undergoing a process of reform in bothdeveloped and developing countries. Old age pensions have the broadest coverage andfrequently the largest cost of any program in the entire social insurance system, and inmany countries have become or threaten to become a major burden on public finances.Hence they have been the subject of much discussion. Attention has been concentratedon thequestion of which system should be chosen: should it b…