养老基金投资运营管理的国外模式及其启示——智利、哈萨克斯坦的案例分析

Analyzing on the Influence of Pension Funds Investment in Chile and Kazakhstan on the Pension Insurance system in China

随着世界范围内人口老龄化,各国社会保障基金制度财务危机、支付危机日趋凸现,欧美国家养老保险改革传统思路受阻,而智利、哈萨克斯坦的基金个人账户式养老保险基金管理模式却举世瞩目,两国建立个人养老金账户和投资资本市场是解决问题的根本出路。我国在现行的社会统筹和个人账户相结合的基本养老保险制度下,应该建立完善的个人账户养老基金投资管理模式,通过有效的投资运营来实现我国养老保险基金的保值增值。

Facing the challenge of aging population, different countries' financial and payment crisis of social insurance fund system throughout the world, the reform process of the traditional pension insurance system in America & Europe is not smooth. On the other hand, the practice of Chile and Kazakhstan is outstanding, as the basic scheme to set up personal pension account and invest in the capital market is adopted. This paper indicates that the current pension insurance system in our country is facing the same problem. Under the current basic pension insurance system of the social pool combined with personal accounts, we should set up and optimize the investment management system of personal pension accounts, and realize the goal of preserving and increasing value of the pension fund in China through effective investment.