Study On Operational Pattern Of China's Occupational Pension

Throughout the 1990s, in response to the population aging crisis and world increasingly serious pension funds shortage, the World Bank proposed three kinds of endowment insurance:basic endowment insurance, occupational pension, individual deposit endowment insurance. Among them, as the second pillar, occupational pension is an important component of the endowment insurance system. It is that enterprises and their employees participated in basic pension insurance in accordance with the law, according to its own economic strength and development needs. It is a supplementary endowment security system based on national basic pension insurance. The current development of China's three-pillar pension is imbalance, national basic endowment insurance payments has high pressure and heavy financial burden. The current endowment insurance system is hard to cope with the challenge of aging population. At the same time, occupational pension is far to obtain its proportional position. To develop occupational pension will greatly reduce the state's basic endowment insurance pay pressure and improve the bearing capacity of primary endowment insurance. It is the needs of pension reform.To establish multiple level endowment insurance system and standardize occupational pension fund management, China has issued < Occupational pension try out method> and <Trial measures for occupational pension fund management> in 2004, which clearly let the trustee, account manager, custodian, investment manager to manage the occupational pension. Financial institutions (insurance companies, Banks, fund companies, securities companies, trust company, etc.), apply to the competent authorities, according to its own conditions and advantages and obtain different operational roles. After nearly two decades of market development, occupational pension operational pattern in shows a variety of operating characteristics. How to choose various financial institutions in the occupational pension operations and the occupational pension operational pattern is the most important problem. Discussion on this issue plays a vital role in the development of occupational pension and has strong practical significance. This article started from this point of view.First described the role of occupational pension, pointed out the status of the occupational pension in the pension insurance system and the necessity of the development of occupational pension, analyzed the significance of the occupational pension to individual employees and gave the conclusion that China should vigorously develop the occupational pension; And the types of occupational pension operational pattern and some countries and regions occupational pension operational pattern were introduced. Then by analyzing the comparative advantages and the roles of various financial institutions, we showed that financial institutions can rely on what advantages, in what capacity to participate in the occupational pension operations. Insurance companies, banks, fund companies, securities companies, trust company, etc. had their advantages and disadvantages. Through the comparative analysis of operational pattern, proposed the optimal occupational pension choice pattern in China at this stage and the future direction of development was predicted. After a series of screening, we pointed out that "1+2+1" pattern was presently the most suitable for China's occupational pension pattern. For the future development direction of occupational pension, we proposed "one-stop" service:unified operation from the Financial Holding Group was the trend of the times.