The Study On Direct Investment Mode Of Enterprise Annuity Fund Trustees

Enterprise Annuity is a new pension system of supplementary pension insurance system after normalization, which is a very important department of China’s "Trinity" pension system arrangements. Besides,it’s also the second pillar of the "three pillars" pension system determined by the national Human Resources and Social Security. Thus it plays a very important role for our country to deal with the aging trend, make up for pension gap, and increase the pension level of protection is important. Since 2004, a number of enterprise annuity system and regulations for the Ministry of Labor and Social Security Department (now the Department of Human Resources and Social Security) have been introduced. The rule "enterprise annuity fund management approach"proves operational safety and great progress. Till the end of 2014, the progress has reached 768.895 billion yuan to promote the grand scale.Over time, which is still rising and accumulated significantly faster, in the past based on four financial license, such as corporate pension trustees, account managers, fund custodians, investment managers, investment managers by the decentralized enterprise pension fund investment model, have revealed drawbacks and limitations, to some extent hindered the enterprise annuity fund of stable value and rapid accumulation, the traditional mode of operation of the investment structure and the urgent need to optimize and improve in many ways.Through horizontal comparison with foreign pension insurance fund investment patterns as well as financial institutions in the country for the enterprise annuity fund investment management analysis research, to promote profitability, safety and operational efficiency to enhance the investment business model based, so the use of direct investment and the operating mode of the trustees of the enterprise annuity fund investment business of reconstruction and optimization in this paper, which must exploration.