The Advantages of the U.S. Pension System

The social security mechanism is relatively well-formed, with a high degree of unified management. 

America's basic old-age security system is managed by the federal government. The Federal Government has established the General Administration of Social Security, which is responsible for the formulation of relevant laws on social pension insurance and the guidance of the national policy operations. The country is divided into 10 large areas, divided into social security bureaus, and in the states sub-offices, specifically to undertake social pension insurance affairs. A social security network has been formed with clear responsibilities. The local governments of each state shall not undertake the state pension insurance, but shall formulate supplementary old-age plans only in accordance with the actual situation in the region. All citizens of the United States have a non-repetitive social security number that governs social security relationships between employees and retirees. The daily management expenses of social security institutions are drawn proportionally from the social security tax and are guaranteed to be in place each year to ensure the development of various social insurance businesses.

The use of legal and economic means to regulate the retirement age, strong, good results. 

U.S. law provides for 100 per cent pension when a person who retires at the age of 65; This policy, which guides practitioners away from early retirement, also protects the interests of pensioners who want to retire late and delays them. This is beneficial in reducing the pressure on fund payments.

The replacement rate of basic old-age treatment is controlled at a low level, which is conducive to the development of multi-level protection. According to the information, the U.S. pension replacement rate is 51% overall, the net replacement rate is 65%, lower than France (62%, 77%), Germany (52%, 72%), Italy (81%, 95%), Sweden (81%, 82%), Spain (82%, 89%), slightly higher than Japan (49%, 47%, 61%) and the United Kingdom (47%) and the United Kingdom (47%). A lower replacement rate for the basic pension may serve as a second pillar (corporate supplementary insurance) and a third pillar (personal pension savings). Commercial life insurance in the United States is very active. In order to fully mobilize the enthusiasm of employees, retain talent, the introduction of enterprise annuity plan and other forms of supplementary insurance. Under the premise of ensuring its basic life, the old-age insurance organized by the state truly embodies the complete old-age insurance system which is jointly undertaken by the state, employers and individuals.

Make full use of high-tech, high degree of socialization.

The level of high-tech development in the United States is universally recognized. The application of it in the operation and management of the social security system has greatly improved the socialization of social security management services. Any u.S. public who holds a Social Security number is valid in which part of the U.S. mobile employment, as long as the provisions of the local payment of a certain amount of social security tax, can automatically continue the social security relationship. Similarly, when retirees die anywhere in the country, hospitals enter their death information into a computer to ensure that they are sold in a timely manner.