澳大利亚自愿性第三支柱超级年金制度及其投资管理模式研究

A Study on the Australian Third Pillar Voluntary Superannuation System and Its Investment Management Model

澳大利亚超级年金制度包括强制性超级年金保障金制度和自愿性超级年金制度,旨在鼓励个人积累足够的退休金,从而在基础养老金之外获得额外的养老金福利。强制性超级年金保障金制度和自愿性超级年金制度的资金存入超级年金账户,超级年金基金采用受托人制度的信托模式进行市场化投资运作,涵盖国内外市场上大部分投资产品,投资模式包括智能默认、预选组合、自选组合以及会员直投模式,受到澳大利亚审慎监管局、税务局和证券投资委员会的严格监管。澳大利亚超级年金制度能为中国个人养老金制度的发展提供有益的借鉴和启示,包括强制性和自愿性的结合、多元化的投资选择、激励个人自愿性储蓄、加强监管和透明度等。

The Australian superannuation system consists of both the compulsory superannuation guarantee and voluntary superannuation schemes,aiming to encourage individuals to accumulate sufficient retirement savings,thus providing additional pension benefits beyond basic retirement pensions.Funds from both the compulsory superannuation guarantee and voluntary superannuation schemes are deposited into superannuation accounts,managed through a trustee system for market-based investment operations.Superannuation funds invest in a wide range of investment products in domestic and international markets,and the investment modes include smart default,pre-mixed,DIY mixed and member direct model.The system is subject to strict supervision by the Australian Prudential Regulation Authority,the Australian Taxation Office,and the Australian Securities and Investments Commission.The Australian superannuation system offers valuable insights for the development of China's individual pension system,including the integration of compulsory and voluntary elements,diversified investment choices,incentives for voluntary savings,and enhanced supervision and transparency.