The New Fertility Policy and the Actuarial Balance of China Urban Employee Basic Endowment Insurance Fund Based on Stochastic Mortality Model

Table 2

The influence of various factors on the balance of income and expenditure of the model.

	Collection rate	Investment yield	Payment rate	Substitution rate	Growth rate of wage	Age of retirement
Influence direction	+	+	+	−	+	+

Source: the authors draw the picture based on the results of the calculation of the changes in factors; “+” represents that an increase in the value of the factor can increase the fund balance; “−” represents that an increase in the value of the factor will reduce the fund balance.