Facing difficulties in pension finance, there are still loopholes in the three pillars of the pension system. How can we fix them?

The world's aging trend is becoming more and more intense, and the issue of elderly care in our country has become a hot topic of discussion and concern in the whole society. Pension finance is a systematic conceptual system including pension finance, pension industry finance and pension service finance. With the concerted efforts of the national government and the market, pension finance is gradually getting on the right track, and pension service finance has achieved obvious results. But at the same time, the development of my country’s pension finance still needs to accept a series of challenges. As my country's population aging phenomenon gradually intensifies, as of 2019, my country's population aged 60 years and above exceeded 250 million, accounting for 18.0% of the total population, and the population aged 65 years and above exceeded 170 million, accounting for 18.0% of the total population. 12.6% of the total population. Judging from current trends, China's aging population will increase at an unprecedented rate in the future. After 2030, the population aged 65 and above may account for more than 20% of the total population, and China will enter a severely aging society by then. As the elderly population continues to increase, what specific difficulties will my country's pension system face? To understand this issue, we first need to understand what pension finance is, and what is my country’s pension finance industry?

Pension finance

It refers to a series of financial activities carried out to reserve institutionalized pension funds. Its object is institutionalized pension assets. The goal is to accumulate pension assets through institutional arrangements and achieve value preservation and appreciation at the same time.

Pension finance mainly includes two aspects:

1. Pension system arrangements. Under the premise that population aging has become a major trend, the pension system is facing increasingly severe tests. A multi-pillar and risk-dispersed pension system should be established through the sharing of responsibilities between the national government, units and individuals. system;

2. Pension asset management, maximizing returns on the basic premise of ensuring asset security.

What exactly is my country’s pension finance industry?

The entire pension industry consists of three main parts. The upstream is the capital supply side of the pension industry. The midstream is composed of the three pillars of the pension security system as well as individual family savings and other investments. The downstream is our consumption side. Pension funds from all parties flow into the pension security system, and after operation, stable pension cash flow is paid after people reach old age, so that the quality of life of the elderly is guaranteed.

Here we have to talk about the three pillars of the pension security system

The first pillar: basic pension insurance for urban enterprise employees, basic pension insurance for government agencies and institutions, and basic pension insurance for urban and rural residents.

The second pillar: enterprise annuity and occupational annuity.

The third pillar: personal pension insurance.

Only with these three pillars can we get the best financial security in our old age. Although with these three pillars, our elderly life can be basically guaranteed. However, our country’s pension system still has many shortcomings.

1, pension finance is mainly based on basic pension insurance, and other commercial pension insurance has not yet been fully promoted.

Although my country has an occupational pension system, the elderly’s awareness of this system is relatively limited, and their enthusiasm for participating in this system is not high enough, resulting in great restrictions on the development of this system.

2. There are loopholes in the management of pension accounts in my country.

Due to corruption or regulatory issues, illegal acts of "misappropriation of funds" often occur, resulting in insufficient balance in the account when needed. When paying, make up the difference by "removing the east wall to pay for the west wall". But this treats the symptoms rather than the root cause

3. According to the savings habits of most Chinese people, the elderly do not want to receive pensions after retirement. Such premature withdrawal will put pressure on pension financial expenditures.

Seeing this, we should clearly realize what kind of challenges we face. Many friends here will ask us what we can do? How to prepare for a rainy day and nip problems in the future?

The attentive friends just now may have seen that the third pillar is personal pension insurance! Yes, that’s it. The country has actually included it in our entire pension system, but many friends don’t realize its importance! Why do we still need to buy commercial pension insurance after we have social security pensions? Well?

Everyone knows that basic social pension insurance is low-level and has wide coverage. It can only basically protect your life. If you want to have a decent old life, you need to purchase commercial pension insurance as a supplement. Commercial pension insurance is different from social security in that it is voluntary, profitable and compensatory. You can freely choose a payment period ranging from 5 to 30 years, and you can receive a good financial compensation after the period is up. This is a way to help us spend our old age peacefully. Therefore, even if you buy social security, it is still necessary to buy commercial insurance, which can help you have a high-quality life in your later years. Seeing this, I hope you all have a preliminary understanding of the pension problems faced by our country. The editor also provides you with an idea, that is, if you are worried that your social pension is not enough, or you have paid too little social security pension from work. , you can purchase commercial pension as a supplementary insurance! Buy a guarantee for your elderly life! If you have any questions, you can search "Baibaojun" on Baidu. There are professional insurance agents there to solve all your insurance problems.