全国社会保障基金理事会管理体制的转型与突破——写在基本养老基金投资进入市场之际

发布时间：2018-07-05 16:50

本文选题：养老基金投资 + 机构投资者　；参考：《辽宁大学学报(哲学社会科学版)》2017年03期

【摘要】：文章对社保理事会始终存在的定位与管理体制问题进行了剖析,认为主要存在以事业单位编制管理和全额预算拨款管理为特征的八个问题;在国际比较的基础上,提出主权养老基金投资主体有三个管理体制模式;结合中国的具体国情,对社保理事会"转制"提出了四个改革方案,并对其利弊权衡提出了个人看法;针对基本养老保险基金受托投资面临的挑战,提出社保理事会亟须建立四个重要机制;最后,文章以"加拿大养老基金投资公司"为参照,对运营16年的全国社会保障基金性质进行了分析,认为全国社会保障基金本质上讲是一只"无限期"的"储备型"主权养老基金,应树立"长期主义"的投资理念,确立"主动主义"的投资战略,这是近十年来国际大型养老基金机构投资者的最佳实践和改革趋势,社保理事会应及时做出重大战略调整,并据此提出运用大类资产比例监管和扩大投资范围等系列改革建议和一揽子方案。
[Abstract]:This paper analyzes the problems in the orientation and management system of the Social Security Council, and points out that there are mainly eight problems characterized by the establishment management and the full budget allocation management of the institution, and on the basis of international comparison, This paper puts forward three management system models for the investment subject of sovereign pension fund, puts forward four reform schemes of the social security council "transformation" according to the specific conditions of China, and puts forward personal views on the tradeoff of its advantages and disadvantages. In view of the challenges faced by the trust investment of the basic pension fund, it is proposed that the Social Security Council should establish four important mechanisms. Finally, the article takes the Canadian Pension Fund Investment Corporation as a reference. This paper analyzes the nature of the national social security fund which has been operated for 16 years, and holds that the national social security fund is essentially a "reserve" sovereign pension fund with an "indefinite period", and the investment concept of "long-term doctrine" should be established. The establishment of an "proactive" investment strategy is the best practice and reform trend of international large pension fund institutional investors in the past decade, and the Social Security Council should make major strategic adjustments in time. Based on this, a series of reform proposals and package schemes are put forward, such as applying the proportion of large assets to supervise and expanding the scope of investment.
【作者单位】：中国社会科学院美国研究所;
【分类号】：F842.61

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