Second, the history owes the Zhang and personal account"for nothing Zhang" subject.Reform an early start in the 90's in 20th century endowment insurance, stateowned with the retired ex - employees that the collective enterprise has "very secure job" and was close a retired personnel to pass by don't deliver fee or accumulation fund.At that time all levels government finance the condition was difficult, and then faced to retire to enjoy life reconstruction the beginning started a stage to pay at the same time existing already retiree pension and pay the condition of fund for existing office - bearer personal account, therefore the state decides to not only and only take cabbage settle retired"old man", but decide to use be expect to deliver fee and personal capital on the account to pay the retirement operative's endowment insurance.The continuance of this system, makes the history owe a subject more and more big, usually appear to transfer personal account capital to fill up a basic pension deficit and used for the phenomenon of community coordination parts of outgos.Therefore, de facto have no corresponding saving capital in a good many personal account, hereupon formed the situation of so - called"personal account running free".Turn after the personnel of future retires and along with the man day advanced age, the government finance condition will face a corresponding challenge.