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Calculation of the Optimal Social Pooling Pension Contribution Rate Under the Three-Child Policy

In: Proceedings of the 2022 2nd International Conference on Economic Development and Business Culture (ICEDBC 2022)

Author

Listed:
  • Mile Deng

    (Wuhan University of Technology, School of Economics)

  • Jiuru Zhu

    (Wuhan University of Technology, School of Science)

Abstract

Under the condition of maximization of social welfare and considering the influence of China's three-child policy, this paper establishes an optimal contribution rate model of old-age social pooling account under the three-child policy based on general equilibrium OLG, and analyzes the relationship between population growth rate and optimal contribution rate of social pooling account. With the decrease of population growth rate, the optimal contribution rate of social pooling account decreases. According to calculation, the optimal payment rate still shows a downward trend year by year after 2021. From the perspective of the effectiveness of China's three-child policy, although it has a certain impact on promoting population growth, this paper predicts that in the next five years after the implementation of the three-child policy, the optimal contribution rate of social pooling account will still decline slowly, and the impact of the three-child policy is not obvious. This shows that the effect of the decrease of population growth rate on the increase of wages and savings exceeds that of the decrease of the number of contributors.

Suggested Citation

  • Mile Deng & Jiuru Zhu, 2022. "Calculation of the Optimal Social Pooling Pension Contribution Rate Under the Three-Child Policy," Advances in Economics, Business and Management Research, in: Yushi Jiang & Yuriy Shvets & Hrushikesh Mallick (ed.), Proceedings of the 2022 2nd International Conference on Economic Development and Business Culture (ICEDBC 2022), pages 1575-1580, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-036-7_235
    DOI: 10.2991/978-94-6463-036-7_235
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