我国建立“外汇储备型”主权养老基金的构想——基于三重比较的定位分析

发布时间：2018-02-09 08:38

  本文关键词： 主权养老基金 社会保障基金 外汇储备 均值方差模型　出处：《经济体制改革》2014年04期 　论文类型：期刊论文

【摘要】：针对我国目前严峻的养老形势,建立外储型主权养老基金既可以减轻财政未来的支付压力,又可以满足我国外汇储备资产对盈利性的追求。本文系统性地对我国建立的外储型主权养老基金进行三重意义上的定位,细致地分析我国外储型SPF的运作模式、资金管理和资产配置等问题,并在此基础上提出相应的政策建议:明确外储型主权养老基金的定位,将外汇储备分流出适当部分建立主权养老基金,实行境外多元化投资,在保值的基础上追求较高收益率;建立完善主权养老基金的运作机制与管理监督办法,并出台各项法规规章对其进行规范;在外储型主权养老基金下设多个基金系列,形成不同的投资风格,并在每一类基金内部引入竞争机制,以提高投资业绩;在大力发展外储型主权养老基金的同时,改革养老保险和社保基金的投资体制,促使三支养老基金共同发展壮大。
[Abstract]:In view of the severe situation of pension in our country at present, the establishment of a reserve sovereign pension fund can not only alleviate the future payment pressure of finance, It can also satisfy the pursuit of profitability of China's foreign exchange reserve assets. This paper systematically orientates the foreign reserve type sovereign pension fund established in China, and analyzes the operation mode of our country's foreign reserve type SPF in detail. On the basis of this, some policy suggestions are put forward: defining the position of foreign reserve sovereign pension funds, diverting foreign exchange reserves out of appropriate parts to establish sovereign pension funds, and carrying out overseas diversified investment. To pursue higher returns on the basis of maintaining value of value; to establish and improve the operating mechanism and management and supervision measures of sovereign pension funds, and to introduce various laws and regulations to standardize them; and to set up a number of fund series under reserve sovereign pension funds. Forming different investment styles and introducing competition mechanism into each type of fund to improve investment performance; while vigorously developing reserve type sovereign pension funds, we should reform the investment system of pension insurance and social security funds. Three pension funds to promote common development and growth.
【作者单位】： 天津财经大学经济学院;
【分类号】：F832.6;F832.51;F224
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本文编号：1497527