The Study on Problems and Countermeasures of Disequilibrium of Pension under the Background of Aging Population with Lower Fertility——Illustrated by the Case of Liaoning Province
The Study on Problems and Countermeasures of Disequilibrium of Pension under the Background of Aging Population with Lower Fertility——Illustrated by the Case of Liaoning Province
ZHANG Rong1,2
1.School of Economics, Liaoning University, Shenyang 110036, China; 2.Department of Human Resources and Social Security of Henan Province, Zhengzhou 450018, China
Abstract Based on the current situation of fast aging population and high proportion of the elderly population which is ahead of economic development, this paper builds simplified pension equilibrium model and analyzes the pension equilibrium situation of Liaoning province on the basis of overlapping generations model, using the data of Liaoning province during 1985—2015. The results show that the aging population with lower fertility has had great impact on the current pension system, with the result that Liaoning province has had the pension deficit, and the gap between revenue and expenditure is extending year by year. Contribution rate, substitution rate, dependency ratio and retirement age are important factors affecting the balance of pension payments. Therefore, in order to deal with a possible national pension disequilibrium, the government should expand pension coverage, adjust the pension substitution rate, postpone the retirement age gradually and reform the pension system.
ZHANG Rong. The Study on Problems and Countermeasures of Disequilibrium of Pension under the Background of Aging Population with Lower Fertility——Illustrated by the Case of Liaoning Province. Economic Survey, 2017, 34(4): 0159.
2017, Vol. 34 
