Development Of The Enterprise Annuity Fund The Investment

As an innovative insurance method,enterprise pension system is created in the environment with growing aging population and more and more heavier buder of the country's basic endowment insurance system.With the expending of enterprise annuity fund,it requires higher return of its value.It's very important to find effective assets investment,whether it is for the plan itself or for the interests of plan participants,and even the improvement and development of the capital market. Therefore,it is a forward-looking work of great significance to study China's Enterprise Annuity Fund's investment problem.This paper is focusing on analysis of the problems of enterprise annuity fund investment.Drawing from the United States and other countries' successful experience,as well as the special conditions of our country's financial markets,the paper tries to find effective channels for pension funds investment.The first chapter of this paper introduces the investment theory of the enterprise annuity,including the general investment theory,the importance of investment;the instruments and risk as well as the supervision of enterprise annuity.ChapterⅡis the introduction of China's Enterprise Annuity system evolution and status of the investment of pension funds;as well as the analysis of related problems,including inadequate laws and regulations; lack of preferential taxation policy;the restriction of the capital market's level;the deficiency of effective supervision measures,etc.ChapterⅢis about international experience of the enterprise annuity fund investment,mainly from the the United States,Chile,Hong Kong and so on.They usually invest in many kinds of investment instruments;the bonds' important roles;gradually raising the proportion of stocks,etc. Based on the analysis from the previous chapters,ChapterⅣprovides some policy recommenditions for the investment from several aspecets,including to improve the capital market system,set up pension funds on the operation of market-oriented platform,set up and operation of enterprise annuity fund investment to set up market-oriented regulatory and management system to improve investment performance,etc.