中国养老保险个人账户的个性化改良——基于生命周期投资组合模型的理论与经验研究

文章首先提出养老保险个人账户个性化改良的思路,即在养老保险个人账户赋予参保人一定的个性化选择权,然后在生命周期投资组合理论框架内构建模型,利用动态规划分析养老保险个人账户实施个性化改良对参保人福利的影响。分析结果表明,在养老保险个人账户实施个性化改良,能够以较低的改革成本显著改善绝大部分参保人的福利。

The Personalized Melioration of Individual Pension Accounts in China: A Theoretical and Empirical Analysis Based on Life-cycle Portfolio Model

At first,the paper proposes the idea of the personalized melioration of individual pension accounts,that is to say,the pension insured person will be entitled to some option.Then it sets up a life-cycle portfolio model and analyzes the effects of the personalized melioration of individual pension accounts on the insured persons' welfare.Analytical results show that the personalized melioration of individual pension accounts will significantly improve the welfare of the majority of the insured persons at low...