| The main question of aging population is the elder's security question which lives after the retirement, even if this also is the thorniest economic problem in the developed country, especially in our country which has large population, it not only has become the serious hindrance which the reform meets, also is the important barrier to our country economy's stably development in future. Therefore, how secure elders'life from the system has becomes the question which any society all must properly solve.The paper's object is the our country occupational pension substitution rate level question, the substitution rate level is refers to the ratio of pension income and the wages, used for expressing the height which retired staff's pension income substituting the office staff's wages level. Along with the unceasing expansion of occupational pension scale, it guarantees the request to increase the annuity fund more and more high through enhancing retired worker's wages substitution rate. But it is extremely important to seeks the occupation pension's effective investment, regardless of plans itself or plans participant's benefit, even to our country capital market's consummation and the development. This article is discussing the different investment management pattern to occupation pension's substitution rate level under the big whole background for the aged security, in order to choice appropriate occupation pension's investment management pattern.This article takes the existing fundamental research as the foundation, analyses occupation pension's investment income rate and substitution rate level under the Chinese different investment management pattern through reasonably surveys, makes effort to raise the investment management pattern through the foundation of unifying the nature of with the quantitative analysis, then supply the consummation proposed for the Chinese occupation pension system reform, serves well for the social economy practice.The article according to the stipulation of "occupation pension Fund Management Implementation Means", through constructing the most superior investment profolio, computes the present occupation pension's greatest investment income rate, and establishments occupation pension substitution rate's model, selects correlated year data from population statistic material and the statistical yearbook, utilizes statistics analysis method, the measurement analysis method and EXCEL software, carries on analysing under the different investment management pattern occupation pension substitution rate level, inspects the occupation pension in this foundation, thus causes a research more thorough enrichment.This article altogether divides into five parts:First chapter, mainly elaborated the article's research background and the present situation of domestic and foreign research, introduced the article's research mentality and research technique.Second chapter, the article theoretically limits the occupation pension, the substitution rate level and the correlation concept connotation, and carries on the elaboration to the enterprise annuity elementary theory and the development present situation fore shadows for the following occupation pension investment pattern analysis.Third chapter, discuss the division of occupation pension investment management pattern. About the occupation pension's investment management pattern division existence many kinds of methods, this article through summarizing occupation pension's fund management pattern and according to the fund management way to the first bailee, approximately may divide into the occupation pension fund investment management two kind of patterns: The management structure voluntarily manages and the request specialized organization management.Under the different management pattern occupation pension's investment profolio has the different limit proportion. therefore, according to the experience, the request specialized organization management often can gain the greater investment income rate. However, the management structure voluntarily was lower than the request specialized organization investment management in the investment management tariff, through comparing two kind of investments management pattern of the occupation pension's final income rate of investment, it provides the data reference for the following research occupation pension substitution rate.Fourth chapter, the analysis of occupation pension substitution rate level under different management pattern. The occupation pension substitution rate level is factor which affects the retired staff wages level. According to the occupation pension investment income rate level under the different investment management pattern, this article established the model of occupation pension substitution rate in other factor certain situations, caculated our country's occupation pension substitution rate level. The goal substitution rate level of our country's occupation pension is 20%, but it obtains the nearly 14% substitution rate level in the present occupation pension investment movement condition. Therefore, how raises the occupation pension substitution rate level to has become the urgent matter in our country's old-age insurance reform.Fifth chapter, in view of preceding text's influence research for different investment management pattern to the occupation pension substitution rate level, proposed our country's occupation pension which should vigorously develop the request investment management pattern, caused the occupation pension fund to enter the capital the market and enhanced the occupation pension's income rate. At last put forward the related policy proposal on how enhanced the occupation pension the substitution rate level. |
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