| Pension fund is tightly related to economy development especially to the capital market through studying the world trend. About our country, with the reform proceeding, our country pressingly needs an efficient social insurance system as our safety guarantee that is not only the way of winning benefit but also avoiding economic shock. Therefore, policy authority ranks the reform and perfection of the social insurance system as an important mission, and pension fund is the keystone. Meanwhile with the population aging process, the payment crises of pension funds force all countries around the world to exert great efforts to probe into the pension fund investment models. China is a country with the quickest population aging process in the world, and its retiring population to the working population has surged from 1:8.9 in 1983 to 1:3.0 in 2002.At present, there are some main questions in the pension fund running. They are funds financing disordered, investment running inefficient, low capability of capital market, too rigorous restriction and so on. All of these questions badly influence the fund value preserving and increasing, which make the payment speed of pension fund higher than capturing and running it. Therefore, it is very significant to study pension fund investment running in the capital market on matter in the theory and practice.In this essay, the author first describes the study of the pension fund investment models, and then carries out a comparative analysis on the three typical investmentmodels------ European-American Model, Latin America Model and SingaporeModel------which have been implemented internationally and draws referableexperience from them.The necessity of entering the capital market for the annuities in China is discussed, and then the obstacle and countering policy regarding it are concluded, finally put forward to the suggestion of our country 's pension fund investment by exercising the qualitative and standardized method. |
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