Abstract: The paper studies the public equity system of urban workers’ pension in Guangdong province from an industrial perspective. Through calculating the internal return rate (IRR) and actual contribution rate (ACR) of representative individuals who attend the social pooling part of public system of pension from seven industries in Guangdong province, the paper gets the following conclusions. The current public system of pension has positive redistribution effect and reflects equity to a certain degree from the view of IRR. But due to the regressive contribution mechanism, many workers with low-income can not afford high ACR and have no choice but to opt to follow the public system of pension, which strongly weakens the equity of the system. In order to solve those problems, the paper proposes to enlarge the range of the contribution base and reduce the contribution rate of the social pooling, which will effectively solve the problems.

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