The Research On Pension Fund Investment And Operation Model Of China

The problem of old-age case has attracted much attention because of the trend of a burgeoning population aging, and supporting for a majority of the elderly must rely on the state pension. In recent years, the assets scale of pension has been enlarging year by year, but there also has the pressure of payment because of the trend of population aging. The study of reform of pension, which could appreciate the find assets constantly and improve the payment capbility of found, has very important current significance.The inefficient problem of endowment insurance fund’s investment and operation has been is widely reviled in our country. The sound of “the pension funds access to capital markets” has been exsisted for a long time. In the year of 2005, the document named the way of managing basic pension had be published, that shows that “the pension funds access to capital markets”is closing and a lot of cities has started. However, there also has a bunch of problems, for exzample, the inefficient investment, the inperfect supervision, and so on are waitting to be solved. To solve above problems of investment and supervision is just the focus of this paper.This article is based on reality and objective conditions for China’s basic old-age insurance system operation to pension fund investment business model for the research,acquisition and use of pension fund investment market reform pilot data and information,through the pension investment portfolio returns An Empirical analysis model and effectively verify the presence of the existing pension fund operation system problems. Article is based on empirical analysis and proposed operating market-oriented reform of China Pension Funds,established in line with Chinese characteristics, the market pension fund investment system and innovative regulatory approach improve our pension system from the operator to the regulatory market environment and related laws and regulations policy suggestion. This paper has contained six chapters.The first chapter is introduction, which includes the relative studies of pension funds both at home and abroad, the method of study and posible innovation.The second chapter is an elaboration of the relative theory and background about modern investment science theory, the fund-raising of pension fund, the supervision of pension fund and so on.The third chapter, from the angel of operation and supervision, analysising deeply the case study of the counties who takes the state-operated systerm of pension fund, the private operated systerm of pension fund and the mixed opertated systerm of pension fund, and also provide reference to the pension systerm of our country.The fourth chapter introduce the development path and present situation of the pension systerm in our country and then find out the problem of operation and supervision that exsisting in our markets and explain the possibilities of market-oriented reform of pension fund with the successful market-oriented reform in our markets.The fifth chapter mainly introduces the processes of data collection and arrangement,and establishes the empirical model to prove the the current system problems do exist. And establish endowment insurance investment system that is coincident with characteristics in our county, through empirical demonstration of the process and solve the problem of inefficient investment. And proposing to eatablish innovative regulatory model in our country,solving the problem of pension regulation, and perfecting endowment insurance system. And realizing the aim of keeping value and adding value which is requested by goverment, leting the entire residents share the achievement of ecomomy development.And the last chapter is conclusion and advises. It put forward the brief explanation of study conclusion, and proffers the advice of perfecting the market environment, laws and regulations which is necessary to pension operation.