An Attempt To Solve The Pension Dilemma

There is a new social focus came into public for the elderly pension based on the aging society deepening in the recent years.How to expand the pension mode with enough pension tools,so that there is a better life which can be provided to the Senior Citizen in their old age has become the main direction of product innovation in the most major financial institutions.In current practice,both basic social insurance and supplementary commercial insurance are commonly used as the pension tools for most residents in both advantages and disadvantages.Insurance trust is such a new pension as the complements of private trust and commercial endowment insurance,and will become an important part of the third pillar of pension.However,there are still so many cases due to the shortage of implementation time of insurance trust in China.How to apply the insurance trust to the pension of residents has become an urgent request for insurance institutions,private banks and trust companies.Because of the social background,this paper focuses on how to apply the insurance trust to the pension of residents.In the process of this paper,firstly,the basic concept of residents' pension is briefly described,and the necessity of reasonable arrangement of advance pension plan is analyzed according to the life cycle theory.This paper makes a comparative analysis of both advantages and disadvantages of commercial endowment insurance and private trust in the application of residents' pension,and expounds the related theories of insurance fund trust,which is the product of the combination of the mainly including the concept and classification of insurance trust,its functions and advantages in the application of pension as well.It analyzes the development status of insurance trust and the main issue in the application of endowment insurance trust in China.After the whole processes of investigation the result come to that the development of China's insurance fund trust is still in its infancy,and the main issue are as following: the unified trust registration system has not been established yet,and there are still many aspects to be improved;the laws and regulations related to the insurance fund trust are not perfect,there are many fuzzy and vacuum zones;the overall market environment tends to be mixed,but the separate supervision does not adapt to the development of the industry.The results show that the demand for pension of residents tends to be diversified,but the concept of pension is still more traditional;the demand of insurance trust market is increasingly strong,but the lack of innovation power in the business entities and the single product supply.Next,there is an analyze in the application of insurance fund trust in pension in China in this paper.Firstly,this paper compares the operation modes of insurance fund trust in the United States,Japan and Chinese Taiwan.Then,combined with the actual situation in China,this paper focuses on the group characteristics and needs of Pension Trust applied to the aged,and puts forward the design scheme and corresponding application scenarios of endowment insurance trust products innovatively,in order to provide a beneficial trial for solving the pension dilemma in China.Finally,this paper puts forward the countermeasures to promote the application of insurance fund trust in pension.First,from the perspective of business entities,expand the scope of business entities of endowment insurance trust to promote development through competition;use financial technology to promote the standardized development of maintenance of old-age insurance fund trust industry;formulate multi-level and multi angle marketing and promotion ideas of endowment insurance trust.Second,from the perspective of industry supervision,improve legislation,strengthen the construction of regulatory system,establish a safety net aimed at protecting the beneficiaries of endowment insurance trust,strengthen information disclosure and supervision,improve legislation and issue special laws and regulations on insurance trust from the national level,and clarify the tax preferential system of endowment insurance trust are the most important task.At the end of the paper,the research summary and comments are made,and suggestions for the future research direction are put forward.