Research On Pension Project Investment Under PPP Mode Based On Public Welfare Characteristic

In recent years,China's aging situation is becoming more and more serious,and the pressure of providing for the aged is also growing.Facing the present family structure and economic situation,the traditional family-based pension system in China has been difficult to support,but the number of welfare pension institutions built by the government is small,which can not meet the needs of the elderly.If all the pension institutions are invested by the government,it will bring tremendous pressure to the government finance,which provides an opportunity for social capital to participate in the development of the pension industry.PPP mode is a public-private cooperation mode supported by our government.Applying PPP mode to the pension industry can not only play the role of government supervision,but also make use of the management advantages and funds of private enterprises.It can alleviate the financial pressure of the government,at the same time,reduce risks,improve operational efficiency,promote the sustainable development of the pension industry,and contribute to alleviating the aging problem.At present,scholars focus more on the feasibility and necessity of PPP model in the pension industry.From the perspective of public welfare projects invested by the government,this paper analyses the influencing factors of public welfare investment proportion of government investment in PPP pension institutions,and then quantifies the influencing factors by using analytic hierarchy process and duality theory,obtains the proportion of public welfare of PPP pension institutions;and then through the logical relationship between the economic attributes of pension institutions,the economic attributes of investment capital and the requirements of capital return.Based on the internal analysis,this paper analyses the attribute differences of different equity capital and return requirements,and finally establishes an improved NPV break-even analysis model.Combined with a case study,it makes an empirical analysis of the investment model of PPP pension institutions,and gives a reference range for the pricing of PPP pension institutions.The research results of this paper provide a theoretical reference for the proportion of public welfare in government-invested pension institutions,as well as the promotion and successful application of PPP model in pension institutions projects.