Social Security Fund and Investment Fund

Author: Yan Xin, Editor-in-Chief
Publisher:
Publish Date: 2002-11-01
Features: The book is divided into seven chapters. Chapter 1 briefly introduces the development history of social security systems and fund investment institutions in foreign countries, primarily focusing on the United States and the United Kingdom, as well as their interactive relationships. Chapter 2 is divided into two parts: the first part describes the development history and current status of fund investment institutions in China, while the second part provides a detailed introduction to the institutional changes in China's social security funds. Chapter 3 aims to propose an ideal target model for China's social security system. To achieve this, the chapter first introduces the main existing problems in China's social security system, then analyzes the relevant national conditions related to the social security system. Based on this, through a comparative study of various global models, it proposes that China's ideal social security system model should feature high socialization, multi-levelization, and legalization. Chapter 4 discusses the necessity of integrating China's social security funds and fund investment institutions from two perspectives: the need for social security funds to rely on fund investment institutions and the need for fund investment institutions to rely on social security funds. It also analyzes the institutional conditions for such integration. The final three chapters of the book separately discuss the investment management issues of the three main levels of China's social security funds: the National Social Security Fund, enterprise annuities, and individual account funds. Due to the differences in their levels, sources of funding, and nature, these three types of funds exhibit distinct characteristics in terms of investment management systems, investment portfolio strategies, and risk control. However, since all three are part of social security funds and utilize fund investment institutions to enter the capital markets, they also share commonalities in investment management, which are analyzed in detail in the text.