国资划转充实社保基金后的运营管理风险与对策

Operational Management Risks and Countermeasures after the Transfer of State-Owned Assets Replenish the Social Security Fund

划转国有资本充实社保基金是提升社保制度可持续性的一项重要举措。截至2023年,中央层面已划转国资1.68万亿元以充实社保基金。2024年国家出台《划转充实社保基金国有股权及现金收益运作管理暂行办法》,指出下一阶段工作的关键问题包括全国社会保障基金理事会如何管理好划转的国有资本,保障划转后国有资本的利益归属,构建划转后国有资本的监管、运营以及治理体系,对划转股权的国有企业和承接股权的全国社保基金理事会进行有效约束和激励等。为此,应在构建完善的社保基金投资运营法律体系,打造股权管理、资产管理和资本运营三个环节的完整链条的基础上,明确划转充实后国有资本运营的监管机构设置,创设划转充实后多部门协同监管与异议补偿机制。同时,还应优化理事会的责任承担机制,确保划转充实后的国有资本运营合乎规范,以期实现国有资本和社保基金的可持续发展。

The transfer of state-owned capital to replenish the social security fund is an important initiative to enhance the sustainability of the social security system.By 2023,the central level had transferred 1.68 trillion yuan of state-owned capital to the social security fund.2024 The state issued the Interim Measures for the Management of the Operation of State-owned Equity and Cash Proceeds Transferred to replenish the Social Security Fund,and the key issues for the next stage work include how the National Council of Social Security Funds manages,and safeguard the state-owned capital after transfer,and build a system for the supervision,operation and governance of the transferred state-owned capital,and provide effective constraints and incentives for the state-owned enterprises that have transferred their equity and for the NSSF Council that has taken over the equity.To this end,on the basis of constructing a perfect legal system for the investment and operation of social security funds and creating a complete chain of equity management,asset management and capital operation,the regulatory body for the operation of stateowned capital after the transformation should be clarified,and a mechanism for coordinated multi-sectoral supervision and compensation for objections should be created after the transfer and enrichment.At the same time,it should also optimize the responsibility bearing mechanism of the NSSF council to ensure that the operation of state-owned capital after the transformation is in order,so as to realize the sustainable development of state-owned capital and social security fund.