Perfect The Legal System Of Regulation On The Endowment Insurance Fund Entering Capital Market

Endowment insurance fund is the most important life insurance for the majority of the elderly citizens in our country. The payment pressure of the pension fund in our country is increasing with the increasing of the aging population. Because of pension payments pressure growth and inflation, traditional pension fund investments such as bank deposits and treasury bonds are not sufficient to guarantee the value of endowment insurance funds. In the case of the income was lower than the rate of inflation, endowment insurance fund will depreciate. Therefore, it is imperative to make pension funds into the market in order to obtain a higher income. "Basic Pension Insurance Fund Investment Regulations" began to implement in August 17, 2015 in China. It marked the beginning of China’s pension fund entered the market officially.In this paper, the author puts forward the corresponding improvement suggestions to the pension fund market supervision system, by combing the theory of pension funds into the market regulation, the problem analysis, learning from the successful experience of foreign countries, and combined with national conditions.This article is mainly divided into four parts:The first part:the basic theory of the pension fund market regulation. This part mainly includes the definition and construction of endowment insurance fund, the concept of pension fund investment definition and the necessity of investment, the basic principles and theoretical basis of the pension insurance fund supervision,the supervision mode and main contents of the system and so on.The second part:introduce the legal supervision system and the existing problems of endowment insurance fund in China. This part discusses the regulatory system mainly from the four aspects:market access, market operation and market withdrawal and risk compensation. And the author puts forward the existing problems of these four aspects through the analysis of the relevant system of our country’s current situation.The third part:introduce foreign Legal System of pension funds and Its Implications. Study and get experience from the market supervision system of multi pillar pension insurance fund in the United States, Britain, Germany, Japan, and Chile as an example.The fourth part:put forward suggestions about the legal system of the supervision of pension funds. In the aspect of market access, the author makes recommendations in the improvement of institution and personnel access system, formulation in structural constraints and improvement access assessment process. In the aspect of market operation, the author makes suggestions in improvement of operating system of supervision from information disclosure system and related party transactions system. In the aspect of market withdrawal, the author makes recommendations in specific market exit regulation, the regulatory process and appropriate administrative interventions. In the aspect of risk compensation, the author presents recommendations in the income guarantee, the revenue settlement period and the relative income guarantees.