Research On Investment Management Of Chinese Enterprise Annuity

In recent years, China has gradually into the aging society, the resulting increase in pension costs, In response to the financial crisis and the resulting increase in costs caused by the basic old-age insurance, and as an important supplement to the pension annuity system will play an increasingly important role in China’s economic and social development. Investment income of pension annuity can act as a "source" role: considerable investment income can not only improve their active participation in the enterprise annuity, increasing the amount of enterprise annuity fund contributions, access to investment scale effects. Meanwhile, the high investment income annuity, annuity participants can also make higher pension payment to ease the financial difficulties of the problem caused by the basic old-age insurance. In order to improve the yield of corporate annuity investment, through the status quo of China’s investment in empirical analysis to identify the causes of their problems, combined with the corresponding foreign advanced enterprise annuity investment experience, combined with our enterprise annuity system proposed countermeasures. Therefore, studying the problems of the enterprise annuity investment management in our country has the very strong practical significance.This paper adopts the combination of theoretical analysis and empirical analysis research methods.On the basis of relevant theories of the enterprise annuity investment management, the paper analysis the current situation and problems of China’s investment management enterprise annuity, and uses the mean-variance model empirical analysis of its causes. Finally, the paper learn from the experience of foreign investment enterprise annuity management model and proposed optimization strategy of enterprise annuity investment management.The main conclusions of this paper are as follows:the causes of enterprise annuity investment management for enterprise annuity regulatory restrictions on investment ratio is too stringent, capital market imperfections and corporate pension tax incentives are not in place. Annuity investment can be improved by optimizing the yield of the investment portfolio and broaden investment channels, the implementation of tax incentives and regulatory measures to improve corporate pension and so on.