加拿大养老金“DB型部分积累制”新范式20年回望与评估——降低养老保险费率的一个创举  

An Evaluation of the “DB Partially Funded Scheme” of the Canada Pension Plan over 20 Years Since Its Inception:An Innovative Way to Reduce the Contribution Rate

作　　者：郑秉文[1,2] 

机构地区：[1]中国社会科学院美国研究所 [2]中国社会科学院世界社保研究中心

出　　处：《经济社会体制比较》2017年第6期87-117,共31页Comparative Economic & Social Systems

摘　　要：随着人口老龄化的不断加剧,"加拿大养老金计划"缴费率不断提高。为了降低子孙后代过高的费率和保持竞争力,加拿大在"1997改革"中就设定了一个可以持续百年的9.9%"永恒费率",其一揽子改革包括三大举措即快速提高费率形成一只基金、建立高效的投资公司、降低待遇水平。文章对"加拿大养老金计划"过往20年来制度运行绩效做了对比与评估之后发现,20年前的测算完全准确,并且制度运行绩效超过了预测。文章对这些计划的改革方法论做了大胆分析并提出了个人看法,认为"1997改革"的重要意义是诞生了"DB型部分积累制"。为提高替代率,在现行制度基础上2016年加拿大又额外建立了一个规模很小的"DB型完全积累制",其可持续性和替代率在未来百年内都十分理想。文章认为,加拿大创设的"DB型完全积累制"是一种新范式,具有很高的学术研究价值,它使"林德贝克假想"变成现实,填补了林德贝克分析框架的空白;在经验操作上,对各国养老金改革均具有很多重要启示。The contribution rate of the Canada Pension Plan （CPP） kept increasing as a result of population aging. To ease the burden on future labor force and keep the economy competitive, the 1997 Reform set a steady -state contribution rate of 9.9% which was meant to sustain for up to one hundred years. The 1997 Reform package included three main measures ： （ 1 ） the accelerated contribution rate to establish a reserve fund ; （2） setting up a highly efficient investment company to manage this fund; and （3） lowering pensioners＇ benefit to reduce the cost. A comparative evaluation of the performance of the new system during the last two decades showed that the proper actuarial estimation made for the reform design 20 years ago has laid the foundation for the excellent performance of reformed CPP. Analyzing the reform methodology can lead to the conclusion that the 1997 Reform has set a ＂DB partially funded scheme＂. To increase pension replacement rate for retirees, the Canadian government has established a small - scale ＂fully funded DB Plan＂ since 2016 besides the current system, thus enhancing the pension system in terms of both sustainability and pension benefit. The CPP reform pattern is of significant academic value in that it has turned the Lindbeck hypothesis into reality and filled the gap in its analysis framework, which brings great inspiration for pension reform explorations in other countries.

关 键 词：降低养老保险费 养老金精算 现收现付 部分积累制 主权养老基金 

分 类 号：C913.7[经济管理]