Operation Research Of Social Old-Age Insurance Funds In China

With the transition from the system of collection followed by payment to the system of partly accumulative funds, the scale of the pension fund in China increases quickly. Pension fund is a long-term currency-pays plan and must be affected by the inflation. In our country the aging is fast. The payment of pension will reach the peak in 2030. Nowadays China's pension fund mainly invests in national bond and bank deposit, and the investment yield is very low. Therefore the operation of pension fund is necessary and it has become the hot topic.Meanwhile, pension fund in foreign countries run well. There are three models of entering share market for pensions: retail model, highly centralized model and measurably centralized model. Many countries adopt different models and implement their investment portfolios in the capital market.The pension fund that this article discusses refers to social old-age insurance fund, including social welfare fund and personal account fund. Referring to operation experience of pension fund abroad and combining the characteristic of the aging and the capital market in China, the author will put forward the mode of running social old-age insurance fund at present. Finally, combining the development trend of the capital market, the author has given some advice on the operation of China's social old-age insurance fund in the future.There are five parts in this text. The first part is exordium. The second part is the reform of old-age insurance system and pensions running. The third part is the operation of old-age insurance fund in China. The fourth part is the supervision of the fund. In the last part author gives some advice on the operation of this fund in the future with the development of capital market.The innovation of this text lies in the following places: Firstly, drawing lessons from the running of the foreign pensions, this text has put forward the investment mode of China's old-age insurance fund which is suitable for the characteristics of China's aging and capital market. The investment subject should diversify and implement two-way management; the fund should indirectly enter the market and adopt effective investment portfolio. Secondly, in order to make this fund run effectively, this article has given some countermeasures about strengthening supervision. Thirdly, after the 16th National Congress, the State Council has issued new policy about advancing the reform and opening-up of capital market, which will have a deep impact on development of the capital market of our country. Following this, the author has given some advice on the operation of this fund in the future.Name: Yuan Guoli(Population, Resource and Environment Economics) Directed by-Li Hengguang...