A Study On The Supervising And Managing System Of Enterprise Annuity Funds In China

China's enterprise annuity system starts in on century 90's initial period, passed through more than ten years development, has had certain scale, but exists the question is day by day prominent. The marketability investment operation is beset with difficulties, the returns ratio is very low, and the latent risk is increasingly prominent. How consummates the enterprise annuity supervising and managing system, the strengthened enterprise annuity supervises the superintendent and the operation behavior control in the movement process, this question correctly replied, will directly be deciding our country enterprise annuity market future development.Under this kind of background, this article takes the switcher time Chinese enterprise annuity supervising and managing mechanism as the object of study, under new analysis frame - - balanced (non-balanced) system analyzes, from the enterprise annuity property rights relations as well as the supervising and managing organization and between market participation main body gambling behavior obtaining, through the structure theoretical model, with emphasis inspected the Chinese enterprise annuity supervising and managing system supplies and the demand condition. And has conducted the Positive analysis, simultaneously has compared the typical country (US and Chile) the enterprise annuity supervising and managing mechanism, finally draws the following conclusion:1st, regarding the enterprise annuity supervising and managing question, this article brings into line with the system supply and demand balanced analysis frame to carry on the research.2nd, the enterprise annuity development slow, coverage low, the overall performance is the "government hot, enterprise cold" in our country, and the annuity (latent) risk is more and more prominent in the control operation. In the supervising and managing system supplies aspect, the main performance is two aspects: At present imperfect law and Multi- heads supervising causes to soaring cost. Traces to the source lies in between the department which the dividing industry supervising and managing system creates the benefit allocation and the conflict.3rd, the enterprise annuity supervising and managing system demand aspect mainly displays for restriction of the interior participation main body, the government demand and the independent third party demand. The restriction system of the interior participation main body display in the final beneficiary benefit safeguard system demand as well as reduces the annuity trustee and invest manager's agent risk the system demand two aspects; Reduces the supervising and managing cost take the government as the leading supervising and managing system requirement, enhances the supervising and managing efficiency; On the other hand, gambling behavior between special interest group's which involves from supervising and managing embarks, the requirement aggravates to supervises and manages the organization punishment dynamics, the function is long-time than only to punish the illegal organization; The independent third party behavior is legal and reduces the profession association "free car" behavior, also to supervised and managed the system to propose the demand.4th, Unbalance the supervising and managing system supply and demand has caused our country enterprise annuity market operation low efficiency. Perfect our country enterprise annuity supervising and managing system measure must carries on from interior and exterior system.