The Discussion On Trust And Investment's Problems Of China's Old-Age Insurance Funds

China has become the most populous country in the elderly all over the world. With the aging of the population, large-scale investment to old-age insurance funds has become an important social and economic issue. And as a result of the special purpose of the well-being of the enterprises, there are special requirements for operation of the funds'safety, profitability and long-term. Which kind of system is used to protect the security operation of old-age insurance funds related to the social stability, so it needs to select carefully. Many countries introduce the trust system to the management of the old-age insurance funds'system so as to standardize the management of old-age insurance funds. China's old-age insurance system is divided into three levels. The three levels of old-age insurance funds combined with the trust and formed its own different characteristics, which have their own requirements for investments. Trust is still a new thing in our country. As a new trust law issues, it is a major practical problem to achieve the full integration of the trust management to old-age insurance funds and operate successfully.In this paper, theory with practice, the author discusses the operation of the old-age insurance funds of China and several typical countries, points out the main problems of China's old-age insurance funds during the operation, as well as the experiences of other countries. On this basis, the author points out that the old-age insurance funds entering the capital market is the fundamental way to preserve and increase the value and the way of trust operation is the best path to enter into the capital market by analyzing and comparing the old-age insurance funds. And the author discusses the theoretical and reality basis of the trust operation of old-age insurance, and further to point out the challenges and risk aversion measures of the trust operation of the old-age insurance funds facing. In short, the author starts the discussion basing the trust operation of the old-age insurance funds at the core, preserving and increasing the value of old-age insurance funds as the goal ultimately.