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2011 article

A Measurement of Financial Burden of New Rural Social Old Age Insurance System

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The purpose of this study is to measure financial burden of New Rural Social Old Age Insurance System.The results show that the cumulative financial input by the central and local governments from now until 2020 will be controlled not more than about 900 billion under a goal of overall coverage with low-level benefits for the system.The proportion of the central finance to the total input reach 70 percent above.If the overall coverage for the system will be accomplished ahead of schedule during the twelfth five-year plan,the cumulative financial input by the central government from now until 2015 will be not more than 300 billion,and the input by the local governments over the same period not more than 120 billion.After realization of a goal of the overall coverage,the central government needs to input 70 billion per year to maintain the system work on.The overall coverage ahead of schedule don't lead to a very large increase of total financial input in next ten years,but require to input more,especially for the central government in next few years.To accomplish the overall coverage ahead of schedule during the twelfth five-year plan,do not induce large financial burden in general for the central and local governments,however,impacts of that on local finance,especially for the county-level finance in less-developing areas also cannot be ignored.To come to achieve a goal of the overall coverage ahead of schedule,the central government should increase further input during the twelfth five-year,provide policy supports more for middle and western areas and coordinate with the local governments so as to raise coverage for the system at a increasing speed.

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Korean Urban and Social StudiesDiverse Topics in Contemporary Research

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