Public and private pension institutions refer to public pension institutions set up by governments at all levels and public-owned units. They are reformed, reorganized and innovated in accordance with the requirements of the development of market economy, decoupled from government administrative departments, and handed over to non-governmental organizations or social forces for management and operation, and government departments no longer interfere.

There are three modes: contracting mode, leasing mode and joint venture mode.

Contracting is to transfer the service right of service organizations to social operators, and the government collects a certain contracting fee according to the agreement to supervise related services and operations.

This form is relatively simple and the operation is relatively mature. Lease means that the assets of service agencies are leased to social operators for use, and the government collects a certain rent according to the contract to ensure that the leased property is not lost.

The service rights of joint venture service institutions are partly represented by social operators, and the service rights are allocated according to the proportion of capital and energy investment and ability advantages of both the government and social operators, and the scope of responsibility of both parties in a service management is determined through agreement, forming a cooperative relationship, and social operators get corresponding returns according to their investment.