我国基本养老保险基金投资研究

发布时间：2018-04-11 03:11

本文选题：基本养老保险基金 + 基金投资运营　；参考：《山西财经大学》2014年硕士论文

【摘要】：近年来，我国基本养老保险基金的累计结余已达到一定规模，个人账户也逐步做实，基本养老保险基金的投资管理问题将日益凸显。基本养老保险基金是社会保险体系中最重要的部分，而基本养老保险基金的保值增值则是基本养老保险基金的关键性问题。基本养老保险基金投资的意义有两点：一是随着我国基本养老保险基金累计规模的扩大，需要保值增值；二是化解已经到来的人口老龄化危机，降低基本养老保险基金的支付压力。目前我国基本养老保险基金累积结余已达到一定规模，个人账户的逐步做实也已经取得了良好的效果，但现行的政策规定结余基金只能投资在银行存款和购买国债。基本养老保险基金投资管理存在这种投资渠道窄、基金的投资收益率低、投资主体不明确，投资管理政事不分等问题，难以抵御通货膨胀带来的贬值风险。随着我国人口老龄化程度的提高，老年人口的急剧增加，，给基本养老保险基金的支付带来了巨大的压力。因此，为了化解基金支付风险，可选择的基金投资管理模式在现阶段基本养老保险基金省级统筹的条件下，我国不同的省区可以结合自身的政策、管理体制及人才储备等条件下，应该选择公办养老金管理公司的投资管理模式或者委托全国社保基金理事会投资管理模式，基金投资工具除了银行存款与国债之外，还应该包括有金融债和企业债、投资基金等多种金融工具。并且，现阶段基金的投资策略应选择稳健型的投资策略为主，这样即保证了基金投资的安全性，又能够使政府便于在基金投资过程中进行监管。随着基本养老保险基金投资，必将面临一系列风险，主要包括有三点：基金投资的环境风险，基金投资管理的风险，基金投资运营的风险。同时，对于防范风险的管理体系建设，则需要建立健全养老保险基金投资运营及风险控制的法律法规、实行严格限量监管、建立最低收益率制度、建立准入与退出机制、健全基金投资运营的信息披露制度。通过这几个方面的措施以保障基本养老保险基金的投资安全，实现保值增值。
[Abstract]:In recent years, the accumulated balance of basic old-age insurance funds has reached a certain scale, and personal accounts have been gradually made solid. The investment management problems of basic pension insurance funds will become increasingly prominent.The basic old-age insurance fund is the most important part of the social insurance system, and the maintenance and increment of the basic pension insurance fund is the key problem of the basic pension insurance fund.The significance of the investment of the basic pension insurance fund has two points: first, with the expansion of the accumulative scale of the basic pension insurance fund in China, it needs to maintain and increase its value; second, it is necessary to resolve the crisis of the aging population that has already arrived.Reduce the basic pension fund payment pressure.At present, the accumulated balance of basic old-age insurance fund in our country has reached a certain scale, and the individual account has made good effect step by step, but the current policy stipulates that the balance fund can only invest in bank deposits and purchase national debt.The investment management of basic pension insurance fund has such problems as narrow investment channel, low investment return rate, unclear investment subject, no distinction between investment management and administrative affairs, and so on, which is difficult to resist the risk of depreciation brought by inflation.With the increase of the aging degree of the population and the rapid increase of the elderly population, the payment of the basic pension insurance fund has brought great pressure.Therefore, in order to resolve the risk of fund payment, under the condition of provincial coordination of basic pension insurance fund at present, different provinces and regions of our country can combine their own policies.Under the conditions of management system and talent reserve, the investment management mode of the public pension management company or the investment management mode entrusted to the National Social Security Fund Council should be chosen. The investment instruments of the fund are in addition to bank deposits and treasury bonds.It should also include financial and corporate debt, investment funds and other financial instruments.Moreover, the investment strategy of the fund at present should choose the stable investment strategy, which not only guarantees the security of the fund investment, but also makes the government easy to supervise in the process of fund investment.With the investment of basic pension insurance fund, it will be faced with a series of risks, including the environmental risk of fund investment, the risk of fund investment management and the risk of fund investment operation.At the same time, for the construction of risk management system, it is necessary to establish and improve the laws and regulations on the investment operation and risk control of the pension insurance fund, to implement strict limited supervision, to establish the system of the lowest rate of return, and to establish the mechanism of admission and withdrawal.We will improve the information disclosure system for fund investment and operation.Through these measures in order to protect the investment safety of basic pension insurance funds, to achieve value-preserving.
【学位授予单位】：山西财经大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F842.67

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