Research On Idea And Methods Of Risk Control Of Occupational Pension Fund Investment

With the growing global aging trend, the financial crisis of the national public pension system, a multi-level old-age insurance system is constantly paid more attention and improved by governments. Occupational pension is increasingly prominent as the second level of the importance of the supplementary pension insurance. It plays an increasingly important role to improve the pension insurance system, sharing the government pension obligations, as well as improve the living standards of retired workers. The vast majority of the country’s private pension plans of the world, is the mode of enterprise annuity plan is mostly DC system. With the continuous development of Occupational pension will accumulate huge assets of the Fund. So, from the beginning of the establishment of occupational pension will be inextricably linked with the financial markets. On the one hand, the development of occupational pension fund will promote capital market’s development and innovation; On the other hand, the investment performance of the occupational pension fund and the level of risk control depends on the applicability of perfect capital markets and fund investment vehicles.But the world’s capital markets, including China, ever-changing, flooded with various types of risks that threaten the security of the enterprise annuity fund.So the research on occupational pension governance and risk-control becomes a cutting-edge and hot issue, especially in the stage of financial crisis, all the countries in the world worry about how to resolve the problem of old-age security governance and risk-control, including occupational pension. This paper is mainly discussed in this context the ideas and methods of the occupational pension fund investment risk control to explore, based on analyzing the research literature on the basis of established theoretical data. The specific content and views are as follows:The paper is divided into six chapters, the specific content and viewpoint as follow: The first chapter analyzes the basic theory of China’s occupational pension fund and risk management, and the status quo of China’s enterprise annuity fund investment management. The basic principle of the enterprise annuity fund is insecurity, efficiency and liquidity standards, but the paper proposed occupational pension follows a long-term investment, the value of investment and responsible Investment. Risk control theory, experience from traditional risk management theory to modern risk management theory. The first chapter of the final analysis of today’s enterprise annuity fund investment in the status quo, mainly investment entities "shell", the lower level of investment risk control, inadequate supervision and so on.The second study the impact of the financial crisis on the world, including Chinese pensions. The immediate impact of the financial crisis on corporate annuity fund assets has shrunk dramatically, also resulted in the accumulation of enterprise annuity fund system transition type by DB to DC。But for China’s enterprise annuity fund investment is not affected by the excessive influence of the financial crisis, because that China has implemented a strict limit on the number of regulatory mode. But worldwide, this financial crisis deserves our choice of Reflection:The safety and effectiveness investment management; regulatory and financial innovation game; diversified investment channels direction;employers, employees, government, the three responsibilities in investment losses.In Chapter third, analysis of the internal and external factors affecting China’s enterprise annuity fund investment risk control. The external factors mainly include two aspects of China’s capital market and government regulation; Mixed Operation of Chinese enterprise annuity fund investment management and financial mixed background, not fit for separate operation regulatory approach. Combined Financial industry in the context of the enterprise annuity fund regulation is imminent. And internal factors in the enterprise annuity fund investment is the problem of moral hazard and adverse selection, as well as investment in the main shell of our funds in the trust.Chapter forth analyzed the financial risk management model, including the mean-variance model, the mean-value at risk (VaR) model, mean-Conditional Value at Risk (CVaR) model, by introducing the concept of their respective risk measure and the advantages and disadvantages of each method. Widespread implementation of asset and liability management of enterprise annuity fund investment management, combined with their own characteristics and circumstances of the enterprise annuity fund should be implemented from the system construction, technical operations and innovation, and the training and the introduction of worth noting talent standards should be technical and quality requirements.Chapter fifth specific analyses the experiences and lessons of the United States, Chile and Hong Kong enterprise annuity fund investment risk control, the choice of investment channels, as well as the government’s responsibility. Finally, the increased competition in the market-oriented operation of the enterprise annuity fund mechanism, a reasonable return on investment guarantee mechanism of the government, the participation of the adjustment of the regulatory mechanism of enterprise annuity fund investment and personal investment option.The last chapter, the thesis put forward in the entire pension investment risk control process, the first perfect China’s enterprise annuity fund investment guarantee mechanism, from the choice of the way of security, the accumulation of the guarantee fund, guaranteed standard proposed ideas; strengthen the supervision of the enterprise annuity fund investment, and strengthen the enterprise annuity fund on the market risk control and supervision of risk and the timely adjustment of the regulatory mode of thinking; strengthen the idea of enterprise annuity fund investment risk warning mechanism.