Personal Account Fund Investment Research Endowment Insurance Supervision

With the change of the structure of population in our country, The traditionalaccounting on the cash basis already hasn’t effectively dealt with aging problemendowment risk. So we choosed " combining social pooling account and individualaccount " as our endowment insurance mode. But due to the presence of all kinds ofsystemic risk and unsystematic risk, the individual account fund faces depreciation risk,Therefore, we must put individual account fund investment operation to realize the value.We should strengthen the supervision of the personal account fund to ensure the safety andeffectiveness of the fund and restrict the market main body harmful behavior. The paperconstructs our country’s individual account fund investment operation mode.According tothe present situation of China’s endowment insurance, This paper analyzes the personalaccount fund investment operation mode of supervision, supervision content andsupervision mechanism’s consummate. This paper is divided into three parts:The first part is the basic problems about personal account fund investmentsupervision. Due to the personal account fund’s special status, we need to be more carefulin the investment process. Because there are many risks in investment market in China, sowe must strengthen the supervision. In the fund supervision process,we should follow fourbasic principles: abide by the law, moderate supervision, effective supervision andcontroling cost.The second part discusses about personal account fund investment operation modeand regulation mode. In the fund operation management mode, we referenced theSingapore central provident fund system and Chile completely private managementmode,and I think we should establish the central vertical management of the individualaccount fund trust management system. In the fund operation supervision mode, wereferenced the international unified supervision mode and supervised respectively modeand incomplete unified supervision mode,I think we should build the lead supervisionmode and make the government as the main regulators. In addition, this part alsoanalyzes the individual account fund operation supervision content in market access,market conduct, market exit.The third part of this paper discusses the consummate of personal account fund investment supervision. This part mainly includes the following improvement suggestions:improving the relevant laws and regulations, revent moral hazard, strengthening thesupervision of fund investment strategy, preventing fund operation mechanism of internalrisk, providing the lowest income guarantee, setting up network fund informationsupervision and management system, strengthening the information disclosure system,perfecting intermediary service institutions supervision.