The Study of Insurance Level of New Rural Social Pension Security System in Chongqing

Selecting the cross rate of substitution of Chongqing New Rural Social Pension Insurance to study the level of Chongqing pension and build pension replacement rate of actuarial models.The basic parameters include the rate of inflation α,farmers'net income growth g,bank interest rate r,payment age a,pension age b.The empirical results showed that Chongqing rural level of pension replacement rate is very low;the main variable of the level of replacement rate is the grade of payment,payment age and pension income interest payment.According to the results,three advices were put forward: set fundamental annuities and individual account to be automatic adjustment mechanism,strengthen the endowment insurance fund budget management and make new farming security and traditional policy coherence.