面对企业职工基本养老保险个人账户的“空账”窘境,中国政府开展了做实个人账户的试点工作。然而,应对人口老龄化挑战和促进经济增长并不能成为做实个人账户、实施基金制的充分理由。考虑到人口老龄化会使得政府在传统现收现付制中的财政责任畸重与做实个人账户会面临融资挑战和投资瓶颈,名义账户制可成为中国企业职工基本养老保险制度一个更有效率的选择。本文在提出改革中国企业职工基本养老保险个人账户为名义账户制简明方案的基础上,构建了名义账户制精算模型,并基于中国数据,应用该模型对“小账户”和“大账户”改革思路的基本养老保险名义账户制和养老保障体系的替代率进行了实证分析。研究表明,在企业年金和个人储蓄养老等实现一定水平替代率的基础上,按“小账户”或“大账户”思路进行改革,养老保障体系能为企业职工提供达到目标替代率的养老金;与“小账户”思路相比,“大账户”思路可在实现目标替代率的同时,降低制度缴费率。 Faced with the “vacancy ” dilemma of the basic pension insurance personal accounts for enterprise employees, the Chinese government has conducted a pilot project to make a real personal account. However, addressing the challenges of population aging and promoting economic growth can not be a sufficient justification for the implementation of the fund system. Taking into account the aging population will make the government in the traditional pay-as-you-go system financial accountability and the reality of individual accounts will face financing challenges and investment bottlenecks, the nominal account system can become the basic pension insurance system for Chinese enterprises a more efficient s Choice. On the basis of presenting a concise scheme of reforming the personal account of the basic endowment insurance for Chinese enterprises and employees to a nominal account system, this paper constructs a nominal account system actuarial model, and based on the Chinese data, applies the model to the “small account” and “large account ”The reform of the basic pension insurance nominal account system and the replacement rate of the old-age security system conducted an empirical analysis. The research shows that based on the idea of ​​“small account” or “big account”, the old-age security system can provide enterprise workers with the target replacement rate Compared with the idea of ​​“small account”, “big account ” idea can reduce the system contribution rate while achieving the target replacement rate.