Research On Social Capital Return Mechanism Of PPP Model In Pension Institutions

Along with the aging era,our original old-age service system with home-based,community-based,service agencies to support,gradually exposed many shortcomings,the government fiscal pressure,pension products and services,the imbalance between supply and demandand market development are not perfect.As a modern investment and financing mode and the supply mode of public goods,the emergence of Public Private Partnership(PPP mode)alleviated this contradiction to a large extent.The introduction of state related policies provides guiding principles and policy support for the PPP model to enter the service industry of the aged.The pension service PPP model,on the one hand,alleviate the huge financial burden,on the other hand,change the function of the government and improve the government's ability to govern and the modernization of the governance system.What's more,it can ensure the effective supply of pension services and products,and meet the elderly population's continuous growth,diversification,multi-level service needs for the elderly,and promote the healthy and orderly development of the pension services industry.The government and social capital are a partnership,and the return mechanism for social capital is an important basis for its cooperation with the government.In our country,although the PPP model has been developed for nearly ten years,it is not very optimistic.The operating rate of PPP projects in China is still less than 5%,and the investors of social capital are holding a skeptical attitude.It is not difficult to find that the pension service industry is a public welfare project with long payback period and low return rate.In the PPP mode,social capital is a kind of investment with high profits for pursuing commercial value.The conflict between the pension public welfare and the social capital is an important obstacle.How to attract social capital to actively participate in the pension institutions,we have to solve the current problem not only meet the diversified and multi-level needs,but also to ensure social capital investors can get a reasonable return.Paper is divided into eight main sections:the first chapter describes the background,significance,review,methods and innovations;the second chapter defines theoretical basis;the third chapter describes the overview involved in the pension institutions and return mechanism,to provide ideas for the following analysisof problems;The fourth chapter is the analysis of the PPP model of pension institutions return mechanism,including connotation and interest return mechanism are related,return analysis methods and case and return mechanism in the operation process of problems including the rate of return on investment is difficult to determine,the price adjustment is not reasonable,the risk is difficult to effectively share and social capital exit mechanism is not perfect in this chapter,the problem is put forward;the fifth chapter introduces the typical experience at home and abroad,from the social capital returns practices;the sixth chapter proposes the construction of pension institutions PPP return mechanism principle,reasonable investment return rate is determined and the design points of improving the return mechanism,including perfecting the performance evaluation mechanism,risk sharing mechanism,excess profit distribution mechanism,investment return adjustment mechanism and diversified social capital exit mechanism;the seventh chapter and the eighth chapter.In order to improve the PPP return mechanism of pension institutions,the relevant countermeasures and suggestions and prospects for future research are proposed.