The Research Of The Investment Management And Risk Prevention Of China's Employer Pension

With the increasing of "gray-headed society", the Employer Pension in a multi-level old-age insurance system has become important increasingly. Under the driving of government's policy, especially with "the Employer Pension pilot scheme" and the "Employer Pension Fund Management Regulations" introduced, China's Employer Pension is facing good prospects for development. Recently, the rapid development of Employer Pension makes the fund growing. So how to operate the accumulation of huge amounts of money through the market effectively to preserve and increase their value becomes a problem. This paper analyses the current problems concerning the development of China's Employer Pension. Based on international experiences and China's actual situation, it makes a systematic study on investment of the Employer Pension and puts forward some proposals and recommendations for management of investment risk. There are seven chapters in the paper:Introduction briefly describes the research background, purposes, methods and the literature review.Chapter two first defines the Employer Pension schemes, then compares it with the basic state pension and the commercial retirement insurance, and also describes the abroad and domestic development of the Employer Pension.Chapter three explains the need for investment, objectives and principles, Status and Problems of the Employer Pension. It also addresses China's investment management model based on international experience.Chapter four Analyses the choice procedure of investment portfolio on Employer Pension, the existing investment portfolio tool, and the importance, basic strategy, operation process of the strategic asset allocation and adjustment.Chapter five discusses the investment portfolio model of the Employer Pension. It takes Markowitz's average value-variance model as a foundation and uses Sharpe Index to assess investment management performance. This paper constructs a invest model using Statistical software SPSS and Operations research software LINGO, basing on industry index of ShenZhen Market and raises the feasibility of investment yield through portfolio optimization in China's securities market.Chapter six describes the type of risks of the Employer Pension investment. Referencing to examples of governance abroad and the case of the Social Security Fund in Shanghai, it raises risk prevention measures through organizational form.Chapter seven examines the investment risks management status of the Employer Pension and discusses the form and content of government's supervision. It finally raises a multi-level monitoring system including government, enterprises, workers and social intermediary and the laws.