Abstract: How to effectively develop the value of pension security policy on the retirement life support has received great attention in a long time. Based on the survey from 15 private firms in Hubei province, a model of the transmission and impact of pension security policy values on the retirement life support is presented. Their impacts are also empirically compared. The results show that the appropriateness of pension security policy is positively correlated with sufficiency and responsiveness. The sharing of pension security policy has positive impact on benefit, sufficiency, fairness and responsiveness. This suggests reasonable basic pension security systems are the premise of pension treatment, pension fairness and service homogeneity, which are the common responsibilities of the government, firms and individuals as well. In addition, the sufficiency, fairness and responsiveness of pension security policy have positive impact on retirement life support perceived by employees in private firms. However, the sufficiency of pension security policy plays a more important role than benefit in the retirement life support perceived by employees in private firms, whereas the fairness and responsiveness are perceived to have similar effects. Not only should pension security give consideration to the comprehensiveness, but also focus on the targets and key points, in order to satisfy the requirements of employees, effectively develop the values of pension security policy and ensure the high level of retirement life of employees in private firms.

Key words: pension security, policy value, internal transmission, private firm, perceived life support