OECD国家私营养老基金的发展与投资监管

The Development of Private Pension Funds in OECD Countries and Their Investment Supervision

人口老龄化是一个全球性的问题。在欧美国家,为应对养老金支付危机,在采取减少养老金支出的同时,普遍鼓励发展私营养老基金(与政府主办的基本养老金相区别)。近年来,OECD 国家的私营养老基金资产规模巨大。在私营养老基金的投资监管方面,OECD 国家主要采用的是"数量限制原则"和"谨慎人原则",并且有更为广泛地采用"谨慎人原则"的趋势。我国在2015年前后也将面临严峻的养老问题,广泛吸收借鉴国际经验,尽早制定相关政策,积极鼓励私营养老基金的发展和保值增值,将是大势所趋。

Population aging is a common problem in the world. In European countries and the United States, the government encourages development of private pension funds （ different from basic social pension funds sponsored by the government） and cut down on the level of social pension payout in response to the social pension payout crisis. In recent years, private pension funds have expanded to a massive size in OECD countries. And these countries usually adopt an ＂amount limit principle＂ and ＂prudent principle＂ in supervising these private pension funds, and there is the tendency that the ＂prudent principle＂ will be adopted on a wider scale. China will face with a grave pension shortage problem around 2015, therefore, we should learn widely from international experiences, draw up relevant ndes and policies, and encourage the development and value appreciation of private pension funds.