Sponsor(s): Society of Public Finace of China
12 issues per year
Discipline(s): Economics & Finance
Current Issue: Issue 04, 2019
《Public Finance Research》adheres to the purpose of "prospecting the frontier, facing the modern and facing the world", and reflects new achievements, new trends, new experiences and new knowledge in the research and practice of Chinese financial theory from multiple angles, levels and fields. Serve the reform and development of China's financial sector. scope：Financial basic theory research and innovation, financial discipline construction and development, macroeconomics and policies, financial management system, fiscal system, government revenue and expenditure system, financial and social development issues, major international financial issues
Challenges and countermeasures to the financial sustainability of the basic pension insurance system in China
Public Finance Research,2019,No. 04
Reducing the employers’ contribution rate of the basic pension insurance is of vital importance among the current tax cuts and fee reductions policies in China. However, due to the severe problems of population ageing, the fiscal sustainability of basic pension plan is facing up to critical challenges. Nowadays, the contribution rate of basic pension plan in China is much higher than that in most of the developed countries. Owing to its low pooling level of the basic pension fund, mostly managed at the municipal level, adding up to different support ratio among different regions, financial deficit of basic pension fund has appeared in some regions. One of the most important measures to solve the problem is to achieve the goal of “quickly bringing pension schemes under national unified management” set up at the 19th National Congress of the Communist Party of China. Only that can eliminate the contradiction of high fiscal subsidy and generous surplus of pension fund, meanwhile supporting to reduce the contribution rate. Moreover, fiscal subsidy should increase in general public budget to diversify the burden between consumption and labor, while also improving the competitiveness of enterprises.