Research On The Property Right System Of Individual Accounts Of Enterprise Employees' Pension Insurance

As a mandatory personal pension savings account, the individual account of enterprise employee's endowment insurance, has the characteristics of long duration and large balances and is to undertake the main responsibility of individual future pension. So the running situation of the account has drawn extensive attention, both inside and outside. However, because the property rights system of endowment insurance is not normative and the property right's boundary of individual account is unclear, the individual account produced many problems during the operation. Anyway, the property rights and interests of individual account have not been able to get good protection. Such as, in the mixed management mode, the administrator of the fund will use individual account funds to compensate for the social pooling accounts; in the absence of individual account ownership, the payers will try to avoid or less pay endowment fee by all means; without the supervision of the payers, the fund managers will be power rent-seeking, and so on. These problems will result in serious damage to the property rights efficiency of account individual, and against the original intention to establish individual account, that is the purpose of the social security. Therefore, in this paper, the author combined with modern property rights theory, draw lessons from outside experience, through defining the property right of the individual account and analyzing the problems of the regulation, division, allocation, so that we can be able to build up the property right system of checks and balances and guarantee the system of personal accounts can smoothly practice.The first part of the thesis mainly used the theory of modern property rights to make a clear positioning for property rights of personal accounts properties, through reading the series of laws and regulations promulgated by our country since individual account system established, so that we can reveal the private field of the personal account. At the same time, through the analysis of the current management mode of individual account fund, I will point out its contradictions and problems between them.The second part mainly analyzed all kinds of problems of the property right system of endowment insurance personal accounts under the current situation; the analysis is based on two aspects:the protection for system of property rights and the moral risk in the process. I will also point out that the shortcomings of individual account on the property rights protection.The third part discussed the reasons for the lack of property rights protection of the endowment insurance personal accounts from three aspects:the vagueness of property rights definition, the limitation of management mode and the unbalance of the regulatory system.The fourth part mainly introduces the extraterritorial experience related to the protection of individual account property. According to two countries-Chile and Sweden for typical, whose reforms about the social security system, especially the individual account system is more successful in recent years. By simply analyzing there better places on property right system of individual account, we hope to achieve reference ideas for the further development of individual account property system in our country.The last part of the article, based on the above chapters of analysis, provide some suggestions for the future improvement of the individual account of enterprise employees endowment insurance from three aspects of the legislation, system and supervision.