Research On Investment Efficiency Of Chinese Enterprise Pension

With the aging of our population, the existing old-age securitysystem is facing enormous pressure and challenges. At the end of2010,China's pension gap reached up to1.3trillion yuan and was graduallywidening. As one of the "three pillars" of the enterprise annuity pensionsystem, commonly known as "supplementary pension", is an importantaddition to the basic pension insurance and personal savings outside thepension source. Although the investment style of the enterprise pension ismoderate, but compared to open-end funds on the capital market andforeign enterprises pensions, long-term benefits of China's enterprisepensions has poor performance and its investment vehicles has long beenlimited to bank deposits, bonds and stock, investment return is low,value-added of capacity is weak, and thus unable to play a pivotal role inthe age security system. There are many reasons for this phenomenon,many of whom are external issues of institutional policy and investmentenvironment, including the inside of the investment philosophy,performance appraisal and management system.This paper will first start from the basic concept of the enterprise pension and investment status, describes the theoretical basis andpractical background of the pension. Then the status quo of our enterprisepension investment and foreign development status compared to revealthe various problems in China's enterprise pension in the developmentprocess. Subsequently, the author applied advanced performanceassessment model to the enterprise pension investment efficiencyevaluation, this assessment played a reference role for the enterprisepension investment efficiency and revealed the problem of our pensionmanagement. Finally, the author explored the countermeasures andsuggestions of the development of China's enterprise pension from bothinternal systems and external environment.