关键词: 养老金替代率, 人口增长率, 交叠世代模型

Abstract: Employing an OLG model within general equilibrium framework, this paper analyzes China’s public pension system for enterprise employees. It examines the effects of the individual account benefit replacement rate，social pool benefit replacement rate and population growth rate on the capital-labor ratio, social pool benefits, individual account benefits, consumption and utility, and seeks the optimal social pool benefit replacement rate. This optimal replacement rate depends on the population growth rate, individual discount rate, social discount rate and capital share of income. The simulations show that it will do more good than harm to raise the individual account benefit replacement rate, reduce the social pool benefit replacement rate and strictly implement family planning policy; the optimal social pool benefit replacement rate should be reduced rationally along with the fall in the population growth rate.

Key words: Benefit replacement rate, Population growth rate, Overlapping generations model