A Research On Investment Management Of China’s Endowment Insurance Fund

With the increasingly aging of the population, the endowment insurance fund in China is facing increasing pressure to pay. However, the reality of the current situation is that:on one side, there is the huge demand for pension, but on the other side, historical "empty account" causes investment suspension of IRA fund and the enterprise annuity fund is tightly restricted in investment. Especially in recent years, the inflation in China becomes more and more severely, and accompanied with it is the shrink of the endowment insurance fund in China. Since there is great appealing for a deep reform in endowment insurance system in the National People’s Congress and Chinese People’s Political Consultative Conference, this paper advanced a research on the investment management towards endowment insurance fund in China. On the basis of introduction of China’s endowment insurance system as well as the investment management of the endowment insurance fund, detailed introduction of investment management of Chile’s IRA fund, California public employee retirement system (CalPERS), the USA401(k) plan and Hongkong’s MPF is given. And later in Chapter4, the author compares investment management of China’s IRA fund with Chile’s IRA fond. Then a comparison between China’s public employee’s endowment insurance and CalPERS is made.In the end of this chapter, investment management on China’s private enterprise annuity, Hongkong’s MPF and the USA401(K) plan are put together for a comparison. Through the above analysis, shortcoming and problems in investment management for endowment insurance fund in China are found. The last chapter mainly takes the advantage of progress in technology and puts forward some advices and suggestions for those shortcoming and problems in each plate of endowment insurance fund. Finally, the author hopes to see the improvement in investment management on China’s endowment insurance fund in the future.