Research On The Operation Mechanism Of The Trust Trustee's Power In China's Enterprise Annuity Trust

The characteristics of the occupational pension fund,such as scale,long-term,and its pursuit of pension security,income stability,value objectives and the independence of property unique to the trust system,continuity of management,and "tax avoidance channels","expert finance" and other functions have natural compatibility.Therefore,most countries in the world(such as the United States,Australia,Chile,etc.)use trust model to operate and manage corporate annuities,so as to improve the operational efficiency and benefits of corporate annuities.Trust mode is also used to operate enterprise annuity in our country,but the actual effect of trust operation is not satisfactory.Trustee is the law of enterprise annuity trust The essential participants in the relationship are at the heart of the entire trust system.The operation mechanism of trustee power is the core of trustee system and the necessary prerequisite and important guarantee for the orderly operation of enterprise annuity trust.However,due to the lack of the term system of "power" in the field of private law in China,it restricts the scientific research progress and breakthrough in the theory and practice related to the power of trustees in the special system of trust.Therefore,it is of great practical and theoretical value to study the operation mechanism of the trustees' power of enterprise annuity trust.Taking the concept and function of the trustee power of enterprise annuity trust as the logical starting point of the research,this paper analyzes the current situation of the exercise of power by the trustee in China and finally identifies the subject of power.It lays a foundation for the further study of the mechanism of the trustee's power operation.Then,this paper examines the shortcomings of the power operation mechanism of the trust trustee of enterprise annuity in our country,and on the basis of absorbing and drawing lessons from the latest achievements of the development of the power operation mechanism of the trust trustee in modern times,Put forward the suggestion of perfecting the power operation mechanism of the trustee of enterprise annuity in our country.In addition to the introduction and conclusion,this paper is divided into four parts:The first part discusses the concept and function of the trustee power of enterprise annuity trust.As to the connotation and characteristics of trust trustee power,there is not enough attention in academic circles,and there is no agreement from the existing research.On the basis of screening and absorbing the advanced theoretical achievements in related fields,this paper puts forward my own opinions on the connotation of the trustee's power in the enterprise annuity trust,and through the contrast analysis with the trustee's "right",Deepen the understanding and grasp of the concept.In the author's opinion,the power of the trustee of the enterprise annuity trust refers to the investment and punishment of the trustee in the management of the enterprise annuity in order to maximize the benefit of the beneficiary.Or legal qualifications for other acts.The fiduciary "power" of enterprise annuity trust has five characteristics,such as legal character,benefit,foundation,the nature of the world,the function and so on.On this basis,the author for the first time tried to define the normative function of the trustee power of the enterprise annuity trust,in order to clarify the important value of the trustee power research.It is pointed out that the trustee's power is the symbol of the trustee's "axis" status,the foundation of the trustee's operation of the enterprise annuity,and the protection of the beneficiary's interests.These three functions confirm the important position and research significance of trustee power from different angles.The second part of the enterprise annuity trust trustee power subject to identify.This part focuses on the actual situation of the internal trustee and the external trustee power of the enterprise annuity trust,finds its predicament and finds the way to solve it.Although the legal qualification of the internal trustee is recognized by the Administration measures of Enterprise annuity Fund,it has such problems as poor independence,lack of professionalism,and serious imbalance in the allocation of legal liability and so on.For the external trustee,due to the excessive decentralization of the subjects involved in the trust management of the enterprise annuity,the trustee's power is "suspended" under the framework of the existing system,and its functions cannot be effectively brought into play.From all According to the development trend of ball enterprise annuity,adopting "big trust model" will concentrate the power scattered in multi-subject hands on the unified exercise of trustees,which is helpful to improve the efficiency of trust operation.The corporate annuity trust of our country can realize this legal effect through the system structure of the trust company exercising the trustee power in a unified way.The third part combs the deficiency of the operation mechanism of the trustee power of the enterprise annuity trust.Although the trust system of enterprise annuity in our country is based on a series of normative documents,it lays a foundation for the proper exercise of trustee's power.However,on the whole,there are many defects in the power operation mechanism of the trustee of the enterprise annuity trust in our country: the foundation of the operation of the power of the trustee of the enterprise annuity trust and the imbalance of the structure of the right of right,too much interference in the exercise of the investment right;The limitation of entrustment power and the imperfect internal checks and balances mechanism of power operation are more prominent.The existence of these problems has seriously restricted the benign development of the enterprise annuity trust in China.This must be improved.The fourth part puts forward the perfect suggestion of the operation mechanism of the trustee power of the enterprise annuity trust.In view of the specific problems in the third part,this part reviews the development trend of the operation mechanism of trustee power in trust law,and constructs a forward-looking,systematic and normative structure of trustee power.The purpose of this paper is to provide an effective mode assumption and normative path for the perfection of the power operation mechanism of the trustee of enterprise annuity trust from the point of view of law.In detail,first,clearly affirm the property right from the client "transfer" to the trustee,so as to consolidate the enterprise annuity trust trustee power operation basis,by updating the "duty to the trustee,light power".The old concept of "strength" and strengthening the state's supervision of trust industry to optimize the structure of trustees' authority.Secondly,by clearly stipulating the right of investment of the trustee and the standard of "caution" when it is exercised,the right to change the management method of the trustee and the right to remove it are strictly restricted;Finally,the goal of extending the investment right of the trustee of enterprise annuity trust is realized by relaxing the scope and proportion restriction of the investment right of the enterprise annuity trust step by step.Third,in accordance with the trend from strict restriction to gradual relaxation of the trustee's power of attorney,the "last resort" of the conditions for the exercise of power in the Trust Law should be amended to read "it is appropriate according to the purpose of the trust",so as to cancel the application of the right to the trust.The improper limitation of the entrusted right of the trustee.Fourth,the enterprise annuity trust has a high degree of demand for the trust supervisor system and is coupled between the two.As the "Investment Consultant",the "the representative of the interests" and the "running a bodyguard" can greatly realize the benefit of the beneficiary,and realize the optimization and perfection of the internal balance mechanism of the power operation of the trust trustee of the enterprise annuity.