Reserch On The Risk Response Of Urban Workers' Pension Insurance Fund In China

In the background of New Economic Normal,the balance of urban workers' pension fund is huge.Some scholars believe the growth rate of the balance will be smooth and low,which means any risk could possibly bring losses to China's pension fund.In fact,the operational risk,moral risk and investment risk have already impacted China's pension fund.It is a major issue that how could we build a more reasonable system to effectively deal with risks and secure the fund.Risk response is to avoid,bear,reduce and share risks to control them in the organization's range.The Comprehensive Risk Management implements optimized mechanism with overall planning.CRM advocates comprehensive and whole methods,which suggests efficient risk-response should include all elements,such as full participations,accurate target,complete processes and powerful measures.The implementation of the CRM may be prevented by the internal and external conditions,including risk awareness,systems,high quality talents,advanced technology and suitable environment.In today's China,as risk-response system of urban workers' pension fund has been preliminarily built,some problems have also been found,which are that unilateralism replaces comprehension,fragmentation replaces collectivism.These deviations exist in the whole process of the risk-response,including the subjects,objects,technological process and measures.Unilateralism embodies in only relying on the government,one-sided pursuit of security objectives,key missing and measures not fully implemented.Fragmentations exist in the subjects' free will,single object,less fusion of the measures.The reasons are poor internal and external conditions,specifically including no-awareness of the necessity of the CRM,poor system security,the shortage of talent,technological backwardness and inappropriate external environment.The key of the solution is overcoming the unilateralism and fragmentations in the risk response of urban workers' pension fund.The method is improving the internal and external conditions,including setting up the CRM's ideas and long-term systems,increasing financial investment,optimizing the cultivation of talents,developing the technology,sounding financial markets and others,enhancing the comprehension and integrity of the methods.The paper uses the logical thinking of "raising questions,analyzing problems,exploying solutions".The paper tells us the problems and their reasons,foreign countries' experiences and lessons,what China should do.In the guide of CRM theory,the paper develops some new ideas and achieves the unification of theory and practice.