Abstract

This Paper based on the statistical and research data, analysis the present situation of new-type rural endowment insurance in Hebei province of China, proposed countermeasures to improve the operation mechanism, promote the development of new rural endowment insurance in Hebei province, improving social welfare and happiness, conducive to the harmonious development of society.

Highlights

  • This Paper based on the statistical and research data, analysis the present situation of new-type rural endowment insurance in Hebei province of China, proposed countermeasures to improve the operation mechanism, promote the development of new rural endowment insurance in Hebei province, improving social welfare and happiness, conducive to the harmonious development of society

  • China with most farmers in the world, but without land ownership, farmers cannot sell the land to meet their retirement needs. 1.2 Domestic research status More and more scholars have studied on China's rural endowment insurance system since 1998

  • 3.1011 million people were at the age of 16 to 59, making a collection of premium 800.2078 million yuan; 839.5 thousand rural citizens over 60 years old have received pensions totally 608.98 million yuan, 72.8yuan per capita a month

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Summary

Conditions of the first experimental region

By the end of September 2010, there are totally 3.937 million people in those 18 counties and cities insured and insurance rate was 92.27%. 3.1011 million people were at the age of 16 to 59, making a collection of premium 800.2078 million yuan; 839.5 thousand rural citizens over 60 years old have received pensions totally 608.98 million yuan, 72.8yuan per capita a month. 2.2 Current situation on second trials of new-type rural endowment insurance in Hebei Province. 37 counties cities and districts in the province, approved by the state, launched the experiment on new-type rural endowment insurance, involving 12.5173 million rural citizens, accounting for 25.24 percent of the province's rural citizens. The number of rural citizens over 60 years old involved in the trial is 1.5695 million, accounting for 23.98 percent of all rural population, above the national average level. 37 experimental units have started premium collection and pension distribution .An initial success has been made

Individual payment
Collective subsidy
Local financial subsidy
Individual account was not scientifically designed
Incentive mechanism in the design of individual account is not deterministic
Service system is not perfect
Increase collective subsidy
Ensure the financial support
Findings
Limited ability to ensure pension in the future
Full Text
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