| With the development of the reform of the Social Security System,occupational pension has been the focus that everyone pays attention to.Initially, the establishment of occupational pension was just thesupplement of the fundamental pension,so people did not attachimportance to it. Of course, this is relevant with particular social andcultural system in our country, and the government always providessufficient fund. Because the ageing of population becomes graduallyserious, and the burden of our country's fundamental pension becomesincreasingly heavy, the government has to consider its responsibility, andbegins to support the development of occupational pension, in order toburden limited responsibility. Developing occupational pension provides good opportunities todomestic life insurance companies--expand the business and enlarge thefunds that could be made use of. On the other hand, it is essential for thelife insurance companies to pay more attention to assuring the stability ofthe management. With the scale extension of occupational pension,domestic life insurance companies have to face the solvency problem. Inorder to control risks effectively, guarantee the solvency and maintainefficient operation, domestic life insurance companies must attach enoughimportance to asset-liability management (for short "ALM") ofoccupational pension. This is the key point. The dissertation analyzes why and how to implement ALM ofoccupational pension from dialectic and developing viewpoint. Thedissertation includes three parts: Part one: Analyzing the present condition of occupationalpension in domestic life insurance companies Firstly, the dissertation summarizes the development of occupationalpension, focusing on the system background, the operation mode andcurrent condition. Secondly, the dissertation analyzes the development of occupationalpension from the standpoint of domestic life insurance companies.Currently, domestic life insurance companies only sell the products ofoccupational pension, which mostly provide products and management.We have to go deeply into the variety of business environment. Thesupport of the government provides good opportunity for thedevelopment of occupational pension, but the competition amongfinancing institutions in our country and the pressure from foreign lifeinsurance companies will be a great challenge to domestic life insurancecompanies. Domestic life insurance companies also have advantages oftheir own: compared with foreign life insurance companies, they haveadvantages in culture and nets. Though foreign companies encouragegoing closer to the local, but if they want to enter into our marketcompletely, they must spend a lot of time and energy; in contrast withother financing institutions, the advantages of domestic life insurancecompanies is also obvious, such as advantages in the management ofsolvency , ALM and the account management etc. . Part two: the ALM of occupational pension in domestic lifeinsurance companies It is necessary to develop oneself on the basis of comparison. Herethe author introduces the private pension in US and occupational pensionin UK, and gets useful information from their experience. ALM is greatlyimportant, and essential for occupational pension's operation in domesticlife insurance companies. The substance of ALM is managing andcontrolling risk. Secondly, the dissertation analyzes the risk thatoccupational pension could face, and demonstrates the importance andessential of ALM of occupational pension combined with currentproblems in domestic life insurance companies. At the end of the part, theauthor introduces the general theories and technique methods of ALMthat may be used in domestic life insurance companies. That is the basefor operation. Part three: The speculation on perfecting the ALM ofoccupational pension This part is the emphasis of the dissertation, and the concentratedbody of the research. It includes two sections. In section one, thedissertation analyzes the investment of occupational pension, and showhow to implement the ALM... |
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