The Investment Management Of Complementary Pension Funds In China

With the constituting and perfecting of our country basic endowment insurance, complementary pension and individual save insurance, as the second pillar, government beneficiary and others pay attention to complementary pension which take the role of insuring the society stabilization and the old age life of beneficiaries. However, pension invested in capital market, which could enhance the efficiency of pension fund and avoid the risk. The paper stresses the related problem of the investment management of pension funds, it gets the meanings of investment management by the necessary of pension investing. It educes the emphases of this paper by analyses the course of the whole investment management of pension funds which are the characters of investment administrant and the micro and macro investment management of pension funds and the policies to the investment management of our country's pension.First, in the system frame related with pension funds, combining international experiences, it analyses the advantages and disadvantages of investment administrant for all the finance institutes, and it arrives that all the finance institutes should take necessary measures to fit for the higher requirements for investment management of pension funds with our complementary pension progressing.In the part of micro investment management, it discusses the assets location of pension investment. It analyses the laws of our country's pension assets location and brings forward myself opinions by introducing international experiences and the developing trends, which is to seek the investment tools adapting to the situation of our country. In the aspect of investment yield, it puts forward our country should take the ways to insure the rights and interests of beneficiaries by referencing the international experiences. In the last, it analyzes the trends of international pension funds investment.In the part of macro investment management, the thesis spreads discussing aiming at the investment management's government regulation of pension funds. It concludes the necessary of regulation by analyses the risk of investment management; For the laws ordaining in the investment management of our country, compared to international regulations, the thesis provides the policy advices to the pension investment management regulation. Asides, with regard to the government regulation on investment yields, we should guarantee the rights and interests of beneficiaries byreferencing international advanced experiences.In the end, the thesis gives some policy advices for our country's investment management of pension funds.