关键词: 养老保险, 调整机制, 支付缺口, 替代率

Abstract: In the context of population ageing, pension systems in many countries are facing increasing fiscal pressure. In order to improve the financial sustainability of pension schemes, many of them have adopted Automatic Adjustment Mechanism, which can change the pension schemes’ parameters depending on economic and demographic developments and the financing status of these schemes. Based on the review of world experience, this paper summarizes the mechanism, feature and type of Automatic Adjustment Mechanism. After considering the characteristic of Urban Basic Old-Age Insurance in China, this paper analyzes its feasibility, measures the effect of different types of Automatic Adjustment Mechanism on sustainability and adequacy of this scheme. Relevant proposals about reform of Urban Basic Old-age Insurance are given finally.

Key words: Social Pension, Adjustment Mechanism, Pension Deficit, Replacement Rate