住房反向抵押贷款的定价模型与风险研究

摘要： 随着我国人口老龄化进程的不断加快,社会养老需求快速膨胀,迫切需要新型养老模式以补充现行模式。"以房养老"即住房反向抵押贷款由于能够缓解当前的养老负担,受到理论和实务界的关注。本文首先就住房反向抵押贷款在我国的推行背景展开分析,随后建立了住房反向抵押贷款两种支付方式下的保险精算定价模型,并进行了参数设定与数值模拟,最后对住房反向抵押贷款业务的风险特性和在我国的实施障碍加以分析,以期为住房反向抵押贷款在我国的推行提供政策参考。
With China's accelerating population aging,the society's endowment demand is dramatically expanding.Under such situation,it's exigent to search for new modes as supplement to current endowment insurance system."House-for-pension" or housing reverse mortgage loan has caught the attention of theoretical and practical fields for its capability of ameliorating current problems.This article initially analyzes the backdrop of housing reverse mortgage loan's implementation in China,secondly builds up the actuarial pricing model under two payment methods with parameter setting and numerical stimulation studies,and finally discusses the risk and obstacles such service may encounter in China.We wish to provide a policy reference for China's practice of housing reverse mortgage loan in the future.