Title: Pension Finance:Theoretic Definition and Some Practical Issues in China
Abstract: This paper focuses on how China learns the experience from developed countries of pension financial development.After reviewing pension development in OECD countries,it could be found that the current European debts crisis countries all have less private pension assets,so they have to rely on public pension and aggravate the debts crisis in turn.Based on the current situation of China's three-pillar pensions,this paper tries to definite the theoretic framework of pension finance.The core issue of pension finance is to promote individual account pension and occupational pension into capital market,in one word,it will preserve and increase the value of pensions;in other words,it will introduce pension funds as a long term stable institutional investor for the capital market,as well as benefiting the sustainable development of pension finance.The social pooling pension can only invest state treasury bond,while other pension can invest in the capital market,trust products of infrastructure and house reverse mortgage in order to benefit the development of financial market.To meet the trend of integrated financial supervision in developed countries,China must regulate its pension finance system efficiency,take precautions against risks of pension investment,and promote the healthy development of pension finance in the future.
Publication Year: 2013
Publication Date: 2013-01-01
Language: en
Type: article
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