人口老龄化背景下我国养老金融体系的优化路径研究

Research on the Optimization Path of China’s Pension Financial System under the Background of Population Aging

摘要: 人口老龄化已成为我国长期基本国情，呈现出老龄化程度加深、高龄化与空巢化并存、与人口负增长交织叠加的显著特征，对我国养老保障体系的可持续性构成严峻挑战。养老金融体系作为应对人口老龄化的核心支撑，其完善程度直接关系到银发经济高质量发展与老年群体生活品质提升。本文基于生命周期理论、金融深化与社会保障协同理论等基础，界定养老金融体系的核心内涵与多元构成，系统梳理我国养老金融体系的发展现状，剖析当前三支柱养老金体系失衡、产品供给不足、监管协同不畅、居民素养偏低等突出挑战。选取美国、日本、德国三国作为研究样本，结合2024~2025年最新发展动态，分析其养老金融体系模式特点与优劣，提炼可借鉴的先进经验。结合我国制度禀赋与老龄化发展实际，从优化三支柱养老金体系、丰富产品供给、健全监管体系、提升居民素养、构建多主体协同机制五个维度，系统探索我国养老金融体系的优化路径。研究可为健全应对人口老龄化的养老金融体系、推动养老金融与养老事业深度融合提供理论支撑与实践参考，助力实现“老有所养、老有所安”的养老目标。

Abstract: Population aging has become a long-term basic national condition in China, characterized by deepening aging, coexistence of advanced aging and empty-nest households, and intertwined negative population growth, posing a severe challenge to the sustainability of China’s old-age security system. As the core support for addressing population aging, the pension financial system’s sophistication directly affects the high-quality development of the silver economy and the elderly’s quality of life. Based on the life cycle theory and the coordination theory of financial deepening and social security, this paper defines the pension financial system’s core connotation, reviews its development in China, and analyzes key challenges including the imbalanced three-pillar pension system, insufficient product supply, inadequate regulatory coordination and low public literacy. Drawing on the latest developments (2024-2025) of the U.S., Japan and Germany, it extracts useful experience. Combined with China’s reality, it explores optimization paths from five dimensions, providing theoretical and practical support for integrating pension finance with elderly care and achieving the goal of “a comfortable old age for all”.