Redistributive Effect of China’s Pension System Based on Wealth
Wang Yake1 Li Peng2
1.School of Banking and Finance， University of International Business and Economics， Beijing 100029；2.School of Insurance and Economics， University of International Business and Economics， Beijing 100029
摘要本文利用2016年中国家庭追踪调查(China Family Panel Studies，CFPS)数据，估算了我国城镇职工、城乡居民的养老金财产，并分析了其对居民家庭财产分布的再分配效应。研究发现，我国养老保险对全体居民具有正向的再分配效应，使得全国、城镇和农村居民财产分布的基尼系数分别下降了5.53%、11.39%和8.97%。相比较而言，养老金财产对制度内居民财产分布的再分配作用更大，使得全国、城镇和农村的基尼系数下降了12.18%、25.67%和16.09%。不同财富群体间，我国养老保险使得最高财富群体向其他低财富群体进行财富转移。分解结果显示，城镇和农村之间养老金财产的差距在一定程度上削弱了养老保险在全国范围内的再分配作用。因此，我国养老保险制度需要继续扩大覆盖面，均衡保障水平，从而更有效发挥我国养老保险的再分配作用。
Abstract：By using the 2016 China Family Panel Studies (CFPS) data and measuring all kinds of social security wealth， this paper analyses the effect of China’s old-age pension system on the wealth distribution. The results show that the pension system has a positive redistribution effect on all residents， which makes the Gini coefficient of national， urban， and rural residents’ wealth distribution decrease by 5.53%， 11.39%， and 8.97%， respectively. In comparison， the system has a greater redistribution effect on wealth distribution for people who have social security wealth， which reduces the Gini coefficient of the national， urban， and rural areas by 12.18%， 25.67%， and 16.09%. Across different wealth groups， China’s pension system redistributes wealth from the highest wealth group to the other low-wealth groups. The decomposition results show that there are large disparities of the social security wealth between urban and rural areas， which has weakened the redistribution effect of the pension system nationwide to some extent. In order to further improve the eect of the pension system， the government should make more efforts to expand coverage and narrow the pension gap across different groups.
王亚柯 李 鹏. 基于财产视角下的养老保险再分配研究[J]. 华中师范大学学报（人文社会科学版）, 2020, 59(2): 60-69.
Wang Yake Li Peng. Redistributive Effect of China’s Pension System Based on Wealth. journal1, 2020, 59(2): 60-69.
2020, Vol. 59 
