The Investment Management Mode Of Personal Accounts Funds Of Endowment Insurance Research

With China's aging population, increasing pressure on pension, the original"pay as you go"system has been unable to maintain long-term financial balance. Thus China began to reform the system of basic endowment insurance, the process from the original "pay as you go" system to gradually shift"combination of social pooling and individual account"mode. After years of efforts, " combination of social pooling and individual account " the basic endowment insurance has been established, and initially achieved positive operating. With"empty account to run"gradually disappear, personal accounts funds are increasingly large-scale . For the purpose of guarding against inflation, In order to achieve personal account funds maintenance and appreciation, Personal account funds must be able to achieve high efficiency of investment and management. There are many problems in the China's current investment management system of personal accounts funds. Such as management rights and control rights are not separated,investment managers are lack of investment in technology and so on,this led to investment channel is narrow and inefficient investment, and other phenomenon. In view of this,the Chinese Government is ready to invest in the China's current investment management system of personal accounts funds., establish a new operating mode of the personal account fund investment and management.This paper adopts a comparative analysis, literature analysis and other discharge method. First, by reviewing the development of China's basic old-age insurance history and current situation, analysis of the number of issues in the current system ; then analysis of the main advantages and disadvantages of the typical modes of the foreign personal account fund Investment and management;referring to foreign investment and the social security fund investment experience, present situation in our country at this stage ,I believe that China should adopt the separation of power of investment management mode. Each province (municipalities and autonomous regions) as the basic unit, personal account fund management board which as trustee. the personal account funds investment Adopt the way of management marketability. Systematic exposition the separation of power of investment management mode in the system design level, and analysis of the effectiveness of the mode. Finally, for how monitoring and risk control, proposals such as establishment of an independent monitoring committee,improving the information disclosure system and so on.