公共养老保险中现收现付制度的再认识

Recognition of the PAYG System in Public Pension

The PAYG system in the public pension system is a very important financing mode. Since its application in the public pension system, it makes a great contribution to the public pension system sustainable development, but also plays a large role in the whole society’s welfare level. However, good times don’t last long, with defined benefit type of PAYG system encountered hitherto unknown financial crisis at the end of the last century and many countries have made adjustments to its better adapt to the development of. However, from begin until now, the PAYG system has evolved into the system model of many types. we have the necessity to carry on a valid for its sort, and makes economic analysis. this study found that the traditional PAYG system is a welfare maximizing a under the condition of complete information selection, while the modern PAYG system is only under the condition of asymmetric information, a second best choice.