The endowment insurance

The endowment insurance
As the world's military, economic, americans are proud of and safety is the most proud of is not completely astronauts god, military status, and economic empire and the financial position of the United States.Was introduced American pension system rather than the rural insurance system for three reasons: first, the United States as the world's most powerful economy, the connotation of the farmers and farmers in China have difference in nature.Whether from the farmers per capita land or from the degree of agricultural mechanization and technology content, the meaning of China's farmers have completely different concept;Second, with the development of economy and the transformation of consciousness of farmers, rural urbanization construction and urbanization process accelerated, a large number of rural labor transfer to city, idle into the enterprise and company, this part of the pension problem to be solved;Third, the United States is one of the countries with the longest established endowment insurance system, its operation of the old-age insurance system, laws and regulations, investment, operation and administration were many countries widely using for reference.Through the analysis of the endowment insurance system, we can understand the world the development degree of endowment insurance system and the development direction.A, the United States the basic content of the old-age insurance system the old-age insurance system in the United States was founded in the 1930 s.In 1935, President Roosevelt signed, congress passed the social security act, it to the United States laid a legal foundation for the construction of the endowment insurance system.After hundreds of years of development, and constantly adjust, has gradually formed including the United States national legal private retirement pension insurance, endowment insurance and personal savings endowment insurance, multi-pillar pension system, was vividly called "three-legged stool".

(a) the first pillar: 1. Social endowment insurance.It by congressional legislation, enforcement, because its main purpose is to retire and residual disease or death, the income of workers and their families to reduce, the amount of economic compensation by the society to the workers.Social endowment insurance covers about 96% of the workforce in the United States.2. Get legal endowment insurance required conditions.In general, the age in 62 years of age or older, through employment pay social security taxes for at least 10 years of the workers are entitled to statutory pension insurance, the amount depends on the qualification obtained points number.A qualification points corresponding to a certain annual income "standard according to the national average labor income to determine and adjust. With the increase of the average income for a full insurance required qualification for 40 points. If you start to receive the qualification of legal endowment insurance when less than 40 points, receiving the insurance compensation will be proportionally reduced. 3. The calculation and adjustment of legal endowment insurance gold. After qualified to receive full legal endowment insurance gold, workers receive basic insurance amount according to the index of average income accumulation. This calculation method to reflect the regulating function of social security income, the higher the income, the percentage of the revenues receiving retirement insurance compensation low. On the contrary, the lower the income level of the original, the percentage of the revenues receiving retirement insurance compensation. 4. The source of the statutory pension insurance. The primarily funded by the federal income tax, social security income

Itself of taxation, the U.S. Treasury Department's general fund, the social security fund investment income, etc.(2) the second pillar: private retirement endowment insurance 1. Definitions.It is set up by the enterprise, the enterprise pay money to the plan on a regular basis, after the worker is retired a month according to its account accumulation amount or enterprise pre-ordained pension payments.Businesses and individuals to the monthly pension plan contributions, and pension management institutions through investment behavior to value of pensions, it has no fixed rate, policyholders' future earnings depends on the investment income of insurance company.Such pension is basically based enterprise voluntary, not mandatory.Including government officer occupational pension plan, covering nearly half of the workforce.

Private retirement pension insurance in the United States has 120 years of history, it not only earlier than only 60 years history of the basic endowment insurance, but also in size than the size of the basic endowment insurance.2. The classification of private retirement pension.According to the accumulation and payment, the private retirement pension plan can be divided into fixed payment type and capture to expend fixed type two kinds big.Payment type fixed plan is determined after the worker is retired in advance can enjoy pension per month, and then based on the operating conditions of insurance fund and worker for factors including age, length of service, calculate the employer carries expends the specified amount year by year.Capture to expend fixed type plan, on the other hand, the private enterprise owners and employees in accordance with the provisions, proportion of capital contributions, included in the individual account, in which private enterprise boss capture to expend fixed, but must provide a series of investment choice for employees reference;Employees on their own investment decision-making object, own risk, pension depends on the number of employees to their pay and return on investment.3. The payment methods.In recent years, quickly capture to expend fixed type plan development, is becoming the mainstream, and the payment of a fixed type a reciprocal relationship.In 1997, capture to expend fixed assets type which have accounted for the private retirement pension for the first time the proportion of the total assets of more than 50%, with assets of more than pay a fixed type projects.The fixed type in various payment plans, the most popular is the 401 k plan set up by the enterprise.At present, the development of the 401 k plan achievement not only the United States economic and financial empire, and is becoming the most important representatives of the American spirit and American culture.Because of its unique mechanism, principle of design, management and operation mode of 401 k plan is unique among the international pension system, has had a huge impact on the global pension system reform.There are three reasons that it is popular:

1. The employee can enjoy preferential tax.Because money can back taxes, not included in the scope of the tax, but as the extraction of the tax levy.If worker withdrawal before retirement pay cost and its proceeds must pay income tax and pay the fine, thus ensure the retirement pay insurance gold, stable insurance company and the business activities of the corresponding institutions.2. Capture to expend large flexibility, easy to meet the needs of different levels employees.Voluntary participation and the fixed deposit amount, employees in general to pay 10% ~ 15%.3. Can reduce the burden of enterprises.Companies do not need to pay for every worker, only for participating worker complement a pension.4. Provide include savings, bonds, stocks, funds and other investment way, from the essentially speaking, both insurance and finance and investment double function.Recently, ping an insurance company in domestic also launched pension investment group
Connect insurance, to some extent, it is to learn from foreign experience in pension investments for a try.(3) the third pillar: individual endowment insurance 1. Definitions.Individual retirement account is geared to the needs of any tax income earners a personal retirement savings plan.Basic characteristics of a people enjoy certain preferential tax paid personal management conditions.Including enjoy preferential tax of individual endowment insurance individual retirement accounts and individual worker retirement plans, individual deposit sex endowment and the lack of tax incentives, such as bank deposits, buy insurance company annuity products, securities investment and so on.2. The classification of individual endowment insurance.(1) ordinary individual retirement account.Ordinary individual retirement accounts can be deferred tax preferential individual retirement savings plan.Anyone can build the ordinary individual retirement account "into the amount of per person per year there is no limit to the minimum or other requirements" but has the highest limit.Into an individual retirement account income whether enjoy the deferred tax.The income tax declaration of identity depends on the owners.Adjustment after the deduction of the various kinds of tax-free income and join the pension plan with characteristics of tax incentives.(2) the individual retirement account of the special.An individual retirement account of the special is years we see a new individual retirement savings accounts.In an individual retirement account of the special deposit not enjoy deferred taxes, but hold an individual retirement account of the special age 5 years and older than 59.5, through personal retirement income can be exempt from personal income tax special account.Set up individual retirement have certain qualifications for special account.Personal income tax, adjust below $95000 and joint declaration of tax, adjusting income of husband and wife are allowed to set up individual retirement under $150000 special account.

Second, the evaluation of the old-age insurance system, analysis the enterprise pension system's success in the short term, in addition to the macro economic environment and industrial relations is relatively stable and harmonious, more important is due to the pension system will be under more pressure.With the emergence of an ageing population trends, the United States earlier aware of the role of multi-pillar retirement income security system, and through the legislation to encourage the development of private enterprise endowment insurance.Therefore, the government leading the mandatory social security for elderly endowment insurance policies and measures in the field of the positive role.Some experts believe that an ageing population in the next 20 years will be one of the biggest challenges facing the United States the existing old-age security system.Currently, born in the "baby boom" residents of up to 79 million people in the United States, this group of the largest contribution to the pension system, when they are in the age of retirement, the job of ensuring the basic life, while not mandatory enterprise endowment insurance for the elderly has made a significant contribution to the improvement of quality of life, it is the American retirees to obtain the main reason for the high quality of life.(a) is more sensitive to economic fluctuations at the American enterprise endowment insurance mostly adopt the cumulative, pension funds, almost all participate in the financial market operation.In recent years is strongly influenced by the American economy and stock market shrink, the 9.11 incident, the stock market falls, the major investment in stocks of pension assets loss serious, even rougher.In the middle of November, 2005, the pension guarantee company financial report, in the 2005 fiscal year ended Sept. 30, the agency has $22.8 billion in the hole.(2) vulnerable to big enterprise financial risk

New York state pension fund is the second largest us pension funds -- have a large number of telecommunications giant worldcom company stock, and worldcom in June 2002 after the false accounting scandals, the company's share price fell all the way, lost $300 million for this purpose.Once in these companies into bankruptcy protection, will the pension payment responsibility to semi-official pension guarantee company, essentially pay responsibility on to the government.(3) the risk on the enterprise pension investment itself multiplication enterprise pension fund has invested heavily in the company stock, risk.At the end of 2001, the bankruptcy of enron, the staff of the company invested heavily in enron stock caused huge losses.Because they both loss because of unemployment compensation, and for the stock crash, loss of pension and the double whammy of traumatic events occur frequently, it is not uncommon.(4) investment risk on to employees participate in endowment insurance enterprise employees have more options, but also to undertake a large number of investment risk.If employees are hurt by a investment choices, the enterprise can be easily to loss the main responsibility for employees.(5) the government role is not clear because of the old-age security problem is not a simple economic problem, is essentially a far-reaching social problems and political problems, about social and economic development of the country, therefore, when a few large companies because of the financial crisis caused the pension payment crisis, the government must take responsibility to.Besides, there are fairly difficult to guarantee, shortcomings and so on retirement income gap has widened.Three, the endowment insurance system of our country's enlightenment (1) perfect the relevant laws and regulations of social insurance, to speed up the legislation, gradually to the social security by administrative means to give priority to with the law

2) pillar so-called multi-level adopt mutiple level endowment insurance is to point to by national legislation to establish can maintain minimum living standard security system, and then to local industry more concrete and thorough security system as a supplement, finally should encourage the development of the private insurance industry to have economic strength need to provide the guarantee of a higher quality.The endowment insurance system in the United States "three pillars" supporting the retired old people quiet happy life together.Endowment insurance system of our country also consists of three parts "is the basic endowment insurance, enterprise supplementary endowment insurance and individual deposit sex endowment insurance. The problem is that because of the lack of legal protection, combined with enterprise benefit is unstable and the overall income level is not high, enterprise complement endowment insurance and individual deposit sex endowment insurance is not really established. (3) the country, unit and individual is collective burden pension costs, pension not only by the U.S. government is the most economically developed country in the world has a strong economic base, but the United States did not use welfare pension insurance system of social security mode, it attaches great importance to the country, unit and individual in the common role of social security, reduce the financial burden to the nation already so, also reflected the rights and obligations consistent principle. Our country has entered the aging society, according to the forecast, to 2033 retirees will reach the peak in our country, the retired people group
When in more than 40% of the on-the-job personnel, pension costs will be equivalent to 44% of the on-the-job worker total wages 20% ~ 30% than is generally believed that the international line.The original endowment insurance mode, high pension payments crisis.The endowment insurance funding diversification is beneficial to the true implementation of endowment insurance system and further perfect!