Discussion On Strategy Of Assets And Liabilities Of The Enterprise Annuity In China

The fast increasing of China's elderly population requires our country to reform the existing pension system, so that old people will be well ensured after retire. China had already stepped into the aging society in 2000. Compared with the situation that those have already stepped into the aging society, the aging degree of our country is more serious. China has the largest population in the world, so the absolute quantity of elderly people is larger than that of other countries. Because of the aging population, the diversification of the way of employment and the trend of urbanization, the traditional pension insurance system is facing a great deal of crises. So reforming to the pension plans has significance to our country.Supplementary pension is the second layer in three current world level pension insurance systems. Under the implementation policy and condition which is regulated by the country and implementing the condition, and according to its own management state and the need of development, we would set up a kink of retirement insurance system to ensure that the workers can get certain amounts of pension within a regular period after retirement And we call this kink of retirement insurance system supplementary pension. Supplementary pension has bright prospect in our country. With the enlargement of the scale of supplementary pension, its requisition for maintaining and increasing the value of the pension fund will be higher and higher. Seeking the effective investment of supplementary pension assets is very important. It accords with the interests of the plan itself and the participants. It also promotes the perfection and development in the capital market of our country.This dissertation is organized as falls:Chapter one introduces the forming, the development of supplementary pension at home and abroad respectively, and summaries its characteristics.Chapter two raises some different operation way of fundraising and corresponding actuarial function based on the theory of the fundraising policy ofsupplementary pension. According to research, our country is suitable for some of the accumulate cash basis of the fundraising policy of supplementary pension.Chapter calculates the quota income equation and the quota proportion equation in the defined benefit plans, as well as the debt calculation in the supplementary pension plan. It describes the important relation of debt and earning ratios, according to the experience life table of Chinese life insurance and some assumptions. There we can find earning ratio have important influence to debt in different kinds of plan.Chapter four introduce the way of supplementary pension investment. Consider the systematic risk and non- systematic risk of the capital market, we device the maximum return on investment which the supplementary pension can get in investment capital market. At last, this paper discusses the application of the supplementary pension in the fund indexation investment and the index fund.