The Study On The Government Supervision Of Collective Pension Of Small And Medium Enterprises In China

Enterprise Annuity as the second pillar of Chinese endowment insurance system,is also named enterprise supplementary endowment insurance. It is playing a moreand more important role in Chinese old-age security system. Small and mediumenterprises (SME) play an important role in economic development. The developmentof enterprise annuity in SME affects the level of employee retirement benefits a lot.Currently, there are two kinds of forms in the enterprise annuity market: Singleannuity and collective pension. According to the characteristics of collective pensionand business, most of SME choose the form of collective pension.At present, the supervision of state for collective pension is at the beginningstage. The relevant systems and standards are imperfect. Some problems have alsobeen found in the regulatory practice. These are all what we should pay attention toand improve. Therefore, it is necessary for us to research the government supervisionof collective pension in SME. We can find existing problems in the governmentsupervision, and put forward some countermeasures for the development of thecollective pension.This article has discussed the development of collective pension in SME andcompared with the foreign advanced supervision experience for collective pension inSME by literature analysis, comparative analysis and case analysis. This articleargues that there are following problems in the government regulation of collectivepension in SME:(1) legislative level is low; the legal system is not perfect (2) theregulatory body institutions is disperse; coordinated supervision is insufficient (3) thequality of entry qualifications is hard to ensure; the threshold of establishing theannuity plan for SME is high (4) information disclosure basis is not perfect;information gathering is asymmetric (5) the risks of investment is increased; trusteesupervision is absent (6) funds guarantee institution is not sound; the relevantguarantee provisions is insufficient.According to these problems, this paper puts forward the corresponding countermeasures, such as completing supervision legal norms of collective pension;establishing efficient coordination mechanism for government regulators; optimizingentry qualifications supervision for SME collective pension; making the informationdisclosure system more perfect; strengthening the supervision of investment risk;making the funds guarantee institution more integrated.This paper points out that the country should try to establish financial mixedoversight in SME collective pension, and make part of the annuity regulatorsintegrated. This paper puts forward to carry out investment risk prediction insupervision of collective pension, and monitor investment risk scientifically bypension investment risk matrix. The countermeasures to improve the supervision ofcollective pension in SME will play a positive role.