The Research Of China’s Basic Old-Age Insurance Fund Focusing Manner

The eighteenth National Congress of the CPC clearly proposed the establishment of pension fund’s investment system and to ensure security, increasing value of the Fund. In this context, the paper uses econometrics, statistics to research the investment necessity of focused basic old-age insurance fund.At the same time, this paper demonstrates the practicability and urgency of focusing of China’s basic old-age insurance funds for investment by special treasury bonds, and provide advice for focusing basic pension insurance fund and the entire social security fund investment.This paper will provide reference for the future implementation of the national social security co-ordination. Especially, the basic pension insurance funds in this points the basic pension insurance fund for urban workers.Firstly, this paper summarized the social insurance fund’s investment operations management research status by using literature analysis and reviews the research of social insurance funds for basic old-age insurance fund particularly centralized management and decentralized management.Clarify the social security funds, social insurance funds, pension funds and other confusing concepts using qualitative analysis method, and described the public interest theory, public choice theory, portfolio theory, the "net" Save theory relying on the knowledge of economics. This will make a theoretical foundation for this follow-up study.Then, this paper analyzes the current situation of basic pension insurance fund investment using quantitative hypothetical model analysis and analyzes the future level of inflation, in order to provide advices for focusing China’s pension funds and future investment.Secondly, the paper summarizes international experience of the pension fund management and operation, summarizes the evils of China’s basic old-age insurance fund’s no-centralized management and operation, advantages of focusing China’s basic old-age insurance funds and hindered conditions in detail in the current context of our country, make relevant comparative analysis on the current situation using comparative analysis.Again, in the context of the analysis of focusing pension fund, this paper propose the establishment of the national basic pension insurance fund central account system and the central custodian mechanisms, and analyze the associated advantages and disadvantages.Finally, based on above analysis and research, this paper analyze the necessity of pension insurance fund special treasury bonds and make a certain degree of outlook for the future of China’s basic old-age insurance fund investment channels.