Research On Investment Risks And Countermeasures Of National Social Security Fund

Social security fund,as the cornerstone of the social security system and the economic basis for mutual assistance,is very important to ensure its safety from being harmed.Since the establishment of the National Social Security Fund,the balance of social security fund has been increasing constantly,so it is very important to keep its value.In addition,in recent years,with the deepening of the aging degree in China,the huge pressure of pension payment also makes the income and expenditure pressure of the National Social Security fund increase sharply,so it is equally important to ensure the appreciation of the fund.In order to achieve the above goals of "safety","preservation" and "appreciation",China's social security fund has been exploring effective channels for investment.But as broadening the investment channels,investment tool of the rich gradually,and the vagaries of investment market,must make the social security fund investment risk is growing,but the social security fund is different from other general fund,it as a future must repay the debt,as the people of the"survival money",is must always adhere to the goal of safety and revenue.Therefore,it is very urgent to study the way of investment risk aversion.In this paper,on the whole,according to the principle of comprehensive risk management,through the "risk analysis-risk metrics-risk response to the" overall strategy,a detailed study of present social security fund investment risk,and for the future of our country social security fund in terms of the investment risk should be put forward effective countermeasures for how to deal with,but also for the future period of investment plans and provide certain reference path of risk aversion.Firstly,the paper makes a detailed analysis of the basic concept and investment status of social security fund,and concludes that although the average rate of return on investment of social security fund is slightly higher than the rate of inflation,there are drawbacks and risks such as unstable returns,concentrated investment fields and no diversification trend.Secondly,this paper analyzes the risk factors existing in the current investment of China's social security fund,and concludes that the current investment of China's social security fund has such risk factors as unreasonable investment structure,large fluctuation rate of return,lack of financial instruments and lag of relevant laws.In addition,the influence of systemic risk and non-systemic risk on the investment of social security fund is expounded respectively,and CAPM model is used to calculate the reasonable proportion and risk of social security fund investment in detail,aiming to provide reference for the reasonable proportion of China's social security fund investment.Finally,on the basis of the analysis and measurement,respectively in the micro and macro aspects put forward the countermeasures,in micro level should insist on the principle of diversification,and optimizing the investment structure,speeding up financial tool innovation and personnel training,perfecting the information disclosure system and the incentive countermeasures,such as the accountability mechanism,at the macro level,proposed should improve the legal system,improve the risk management system and early warning mechanism,and innovate the supervision mode and relevant countermeasures.