摘要
随着社会老龄化的不断加剧,我国养老保险基金面临越来越大的支付压力。
然而现实中的情况却是如此:一边是对养老金的巨大需求,一边则由于历史
“空账”原因导致养老保险个人账户基金的投资“搁置”以及企业年金基金面
临的诸多投资束缚。尤其是近几年来,通货膨胀形势严峻,我国养老保险基金
遭遇严重缩水。2014年3月两会召开,深化养老保险改革的呼声四起。本文借
此契机,提出对我国养老保险基金投资管理的研究。在介绍我国养老保险体系
及养老保险基金各板块投资管理情况的基础上,引入了对智利养老保险个人账
户基金、美国加州公共雇员养老金、美国401 (k)计划以及我国香港地区强积
金基金的投资管理的介绍,指出其中颇具特色、被多数国家肯定并借鉴的做法。
在第四章中,将我国养老保险个人账户基金投资管理与智利个人账户投资管理
进行比较,将我国目前饱受争议的公务员养老体系与美国加州公共雇员养老金
计划加以比较,将我国企业年金基金投资管理与香港地区强积金和美国401 (k)
计划分别比较,从而找出我国养老保险基金投资管理中存在的不足和问题。第
五章则针对这些不足和问题,结合当前的社会发展和科技进步,分别提出了对
养老保险个人账户基金投资管理的设想对策,对我国公务员养老保险基金投资
管理的设想对策,以及对我国企业年金基金投资管理的建议、对策,并提出了
整合个人账户基金和企业年金基金投资管理的平台构建。文章最后对未来我国
养老保险基金投资管理的进一步完善寄予希望。
关键词:养老基金;保值增值;投资管理
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ABSTRACT
With the increasingly aging of the population,the endowment insurance fund in
China is facing increasing pressure to pay. However, the reality of the current
situation is that: on one side,tiiere is the huge demand for pension, but on the other
side,historical empty account causes investment suspension of IRA fund and the
enterprise annuity fund is tightly restricted in investment Especially in recent years,
the inflation in China becomes more and more severely,and accompanied with it is
the shrink of the endowment insurance fond in China. Since there is great appealing
for a deep reform in endowment insurance system in the National People,s Congress
and Chinese People's Political Consultative Conference, this paper advanced a
research on the investment management towards endowment insurance fund in China.
On the basis of introduction of China's endowment insurance system as well as the
investment management of the endowment insurance fund, detailed introduction of
investment management of Chile's IRA fund, California public employee retirement
system (CalPERS),the USA 401 (k) plan and Hongkong's MPF is given. And later in
Chapter 4,the author compares investment management of China,s IRA fund with
Chile's IRA fond. Then a comparison between China's public employee's endowment
insurance and CalPERS is made. In the end of this chapter, investment management
on China's private enterprise annuity, Hongkong's MPF and the USA 401(K) plan are
put together for a comparison. Through the above analysis, shortcoming and problems
in investment management for endowment insurance fund in China are found. The
last chapter mainly takes the advantage of progress in technology and puts forward
some advices and suggestions for those shortcoming and problems in each plate of
。。。