价值链视角下企业年金市场化运营问题解析

Analysis of Market Operation of Enterprise Annuity from the Perspective of Value Chain

[目的/意义]随着老龄化程度的不断加深和养老负担的不断加重,中国的养老保障体系正面临着严峻的挑战,迫切要求大力发展企业年金来分担养老压力。[方法/过程]首先对企业年金市场的价值链进行了简要分析,接着探讨了企业年金市场化运营过程中存在的问题,最后分别从微观价值链和宏观制度环境层面分析了问题产生的原因,并提出解决问题的方案。[结果/结论]价值链视角下的企业年金市场存在横向价值链的“战略环节”薄弱、纵向价值链中受托人核心作用弱化以及价值增值作用难以实现等问题。解决这些问题不仅要关注价值链本身,而且要考虑到价值链运行时所依托的制度环境。因此,需从完善企业年金市场价值链以及优化企业年金市场管理制度两方面入手,推动企业年金市场健康有序发展。

[Purpose/Significance] With the larger aging population and the increasing pension burden, China’s pension security system is facing severe challenges. It is urgent to vigorously develop enterprise annuity to share the pressure of pension.[Method/Process] This study briefly analyzes the value chain of enterprise annuity market at first, then, it discusses the problems existing in the process of market operation of enterprise annuity, analyzes the causes of the problems from the micro-value chain and macro-institutional environment, and finally proposessuggestions to solve the problems.[Result/Conclusion] From the perspective of value chain, the study finds some problems in enterprise annuity market, such as vulnerable "strategic links" of horizontal value chain, weakening of trustee’s core role in vertical value chain, and difficulty in realizing value-added role. To solve these problems, attention should be paid to the value chain itself on the one hand;on the other hand, account should be taken into the institutional environment on which the value chain operates. Therefore, it is necessary to improve the value chain of enterprise annuity market and optimize the management system of enterprise annuity market, so as to promote the healthy and orderly development of the enterprise annuity market.