我国养老金融创新与住房反向抵押贷款定价模型研究

On China's Pension Financial Innovation and the Pricing Model of Housing Reverse Mortgage

住房反向抵押贷款是实现以房养老的重要金融工具。国际经验与教训证明,科学设计定价模型是推行住房反向抵押贷款成功的关键所在。我国要推行住房反向抵押贷款必须重视其定价模型的研究。对住房反向抵押贷款的产品结构、定价原理、风险控制与在中国未来实施过程中可能面临的问题作了较为全面的梳理和讨论。

Housing reverse mortgage is an important ifnancial tool to realize the housing endowment. It’s proved by the international experience and lessons that the scientiifc design of the pricing model is the key to the successf ul implementation of housing reverse mortgage. We must attach great importance to the pricing model research if we want to promote housing reverse mortgage in China. This paper makes a relatively comprehensive introduction of the product mix, pricing principle and the risk control of housing reverse mortgage, and also discusses the potential issues that may conf ronted us during the course of f uture implementation.