摘要
The central adjustment system is the first step of the national coordination of basic pension,which can alleviate the pension payment crisis in some provinces.This paper establishes an actuarial model,measures the financial status of the central adjustment fund,and simulates the impact of the central adjustment system on the sustainability and subsidies of the basic pension funds in each province(municipality).The results show that:(1)Before the central adjustment fund system,the first accumulated deficit of basic pension occured earier in central region than that in casterm and westerm region.(2)Afer the implementation of the central adjustment system,the basic pension funds in 19 provinces(municipalities)experienced a decline in the scale of the first accumulated deficit,and the time of the first accumulated deficit in Sichuan and Liaoning was postponed.(3)Increasing the:handover ratio of the central adjustment system will enhance the adjustment effect.(4)The adjustment effect of the central adjustment system is positively ffected by the effect of the delayed retirement policy.(5)Under the current handover and appropriation method of central adjustment system,a higher contribution rate means more fund revenue for areas with a higher proportion of retirees.The central adjustment system is conducive to the sustainability of the pension fund in West China and other areas with underdeveloped market economy,but the actual efect depends on the retirement age,the subscription rate,the wage level and so on.When strengthening pension fund adjustment,the govermment should take into account the current operation status of pension funds to ensure both fairness and fficiency.
