摘要
收益率、死亡率与养老金调整比率是任一代际个人账户收支平衡的关键因素。在现行制度条件下,个人账户收益率前低后高,形成以生存为前提的看涨期权,死亡率下降以长寿补贴的形式存在,个人账户养老金跟随基础养老金调整,这些导致任一代际的个人账户都是收不抵支的,因而个人账户整体也将收支失衡。将在代际账户(1)角度下,重构收益率、死亡率与养老金调整比率之间的关系,如引入随机死亡率并设置动态计发月份表、调整个人账户养老投资收益方式等,构筑个人账户可持续发展的微观基础,实现个人账户向积累制的回归,并以交叉替代率作为衡量调整前后制度优劣的标准。最后对个人账户重构后的制度接续进行可行性方案分析。
Yield rate,mortality rate and pension adjustment rate are important for the equilibrium of any generational account in the individual retirement account. Now the yield rate is low in working period and high in retirement period,it is similar to option on the premise of survival. With the constant mortality rate and excessive rate of pension adjustment,all generational accounts have run into the deficit risk. As a result,the individual retirement account in basic old-age insurance is unbalanced. Based on generational accounts,the relation within yield rate,mortality rate and pension adjustment rate will be optimized. The dynamic mortality rate is used to design new withdrawals ratio table. With market return rate and benefit of index annuity,the new individual retirement account system will transform into funded system stably and be with the capacity of sustainable development. The old and new crossed replacement rates can be used to show the stabilization of system transformation. At last,the feasibility plan to realize the system transformation is designed.
作者
艾蔚
朱萌
AI Wei ZHU Meng(School of Management, Shanghai University of Engineering Science, Shanghai 201600, China School of Fundamental Studies, Shanghai University of Engineering Science, Shanghai 201600, China)
出处
《中山大学学报（自然科学版）》
CAS
CSCD
北大核心
2017年第2期26-35,共10页
Acta Scientiarum Naturalium Universitatis Sunyatseni
基金
国家哲学与社会科学基金(13CRK006)
关键词
个人账户
收益率
死亡率
待遇调整比率
交叉替代率
individual account
yield rate
mortality rate
rate of pension adjustment
crossed replacement rate
