Research On Investment Income Evaluation Of China Social Security Fund

With the aggravation of China's aging trend,the global economy is still in crisis and the impact of inflation rate,China's social security fund in the foreseeable future will face severe pension payment pressure.Compared with developed countries in the world,China's social endowment started late,and the pension payment pressure varies from place to place.How to achieve the goal of maintaining and increasing the value of the social security fund,and how to evaluate its investment returns,is of great significance.Firstly,this paper focuses on the study of the current concept of China's social security fund and several different types of funds,such as the national social security fund,enterprise annuity,urban workers' basic endowment insurance fund,etc.,and analyzes its investment characteristics and investment model.The study found that after years of construction,the national social security fund has basically completed a relatively complete fund investment management mode,and the overall operation effect is good.Enterprise annuity is developed from the supplement of basic old-age insurance before.In recent years,the development trend is relatively rapid.Provinces can operate according to their actual situations,or entrust fund investment management companies,or invest by themselves.Urban workers' basic pension insurance fund,because of its special positioning,the primary guarantee of its safety and liquidity,so the investment is mainly limited to bank deposits and the purchase of Treasury bonds,resulting in some annual yield even lower than the level of inflation,the yield is facing a greater risk of depreciation.Secondly,this paper lists several relatively mature social security fund investment management mode,such as the United States,Singapore and the French model,the study found that although the countries in the social security fund investment and regulation have their own characteristics,but in terms of fund investment safety and profitability there are still some similarities.For example,under the market operation mode of some funds,although fund companies are allowed to diversify their investment,centralized management is also emphasized.In terms of some funds with the nature of minimum guarantee,absolute safety is the first priority.They are less likely to participate in market operation and more likely to maintain and increase their value by issuing special national debt.Through the comparison with thecurrent investment mode of China's social security fund,it is found that there are major problems,such as imperfect legal system construction,unclear rights and responsibilities of regulatory bodies,etc.,and then summarizes the operable Suggestions in line with China's national conditions for reference.Third,through SPSS statistical software,sharpe index,trenor index and other relevant models of fund investment fields,this paper sorted out the index data over the years,and conducted empirical analysis on the investment return evaluation of the above three types of pension funds in China.The results show that although there are different fund types and different positioning characteristics,the investment returns of different types of social security funds are quite different.In terms of comprehensive investment income and investment risk,the national social security fund has the highest rate of return on investment,followed by enterprise annuity,and the basic old-age insurance fund for urban employees has the lowest rate of return.By referring to the actual practice of the fund with higher yield of the former two,this paper provides certain reference for the future investment direction and investment mode of the pension fund for urban employees,so as to realize its stable investment concept.