Media Said Pension Investment Operation Has Internal Programs

In March 19th, Guangdong's 100 billion pension was entrusted to the whole country.

In March 26th, the Ministry of Finance announced that the balance of local social security funds could not be used for independent investment operation. It must be kept in financial accounts or purchased special treasury bonds.

The news was then interpreted as "the cooling" of the Ministry of Finance for pension investment and operation.

In fact, the notice issued by the Ministry of finance is February 15th.

It is not directly related to the pilot projects in Guangdong.

Over the years, the Ministry of finance's request for social security funds has been kept in financial accounts and can not be invested arbitrarily.

But there are indications that the "pension market" seems to be in the firing line, and has entered the schedule of investment and operation plan has become the goal of all parties.

Existing internal solutions

According to insiders, pension investment nationwide

A person who participated in the design discussion revealed that the pension investment and operation plan has made a substantial breakthrough in 2011.

When Premier Wen Jiabao held a State Council executive meeting in August 17th last year, he discussed the investment and operation of social security funds.

The meeting proposed that we should appropriately expand the investment channels for the basic old-age insurance fund so as to maintain value and increase value.

The conference also promoted the formulation of the plan while clearly investing in operation.

In December 20th last year, the International Forum on social security of the Academy of Social Sciences was held. Zheng Bingwen, director of the social security research center of the Academy of Social Sciences, issued the "China pension development report 2011".

At this meeting, Dai Xianglong, the president of the National Social Security Fund Council, Hua Jianmin, vice chairman of the NPC Standing Committee, and the relevant responsible persons of the Ministry of personnel and social affairs and the Ministry of Finance issued the voice of "pension investment operation" to varying degrees.

"This meeting will be quite successful."

Zheng Bingwen briefed reporters 27.

Under the cries of pension investment and operation,

In 2011, the three quarterly press conference of the Ministry of human resources and social affairs, the first two press spokesmen Yin Chengji's position on the issue of pension market entry was "studying the investment operation method".

However, in October 25, 2011, the third quarter press conference of the Ministry of human resources and social affairs made a breakthrough in Yin Chengji's statement and will learn from the successful experience and practices of the national social security fund and enterprise annuity.

The real breakthrough is in the two sessions this year.

Premier Wen Jiabao made the first report on the government's work report on the supervision and maintenance of the social security fund.

In March 5th, Yin Yumin, Minister of human resources and social affairs, and vice minister Hu Xiaoyi also made clear that the direction of investment and operation has been clear, and investment operation will adopt a portfolio investment mode instead of a single mode.

But when it comes to specific proposals, it still says that it is still studying and demonstrating.

The key is disagreement.

In fact, as early as 2008, the state began legislation on the supervision of investment in social security funds.

In July 1, 2011, the social insurance law was formally implemented. According to the Convention, as the fundamental law in the field of social security, relevant supporting laws and regulations should also be issued simultaneously.

Last year, the regulations on the "payment of funds in advance" and "foreigners' participation in insurance", which were matched by the social security law, have been promulgated. But the most important supporting regulations for investment regulation have been delayed.

Experts who have drafted the draft regulations on social security fund regulations have failed to introduce relevant measures, which are related to different opinions of government departments.

The difference is mainly in the investment main body. Among them, the National Social Security Fund Board has a professional team. The previous related yield reached 9.17%. As the competent department, the Ministry of human resources and social affairs has the lowest coordination cost, while the local government tends to decide the investment operation of the pension fund independently.

The above said that our pension is still in the main stage of local government co ordination, that is, the collection and management of pensions is the responsibility of the provincial government.

Autonomous operation by local governments may be the most convenient operation in reality.

"But the local operation pension is the first to be negated. The risk is too big to let go."

The person introduced.

Zhu Fuling, director of the social security research center of Central University of Finance and Economics, proposed that the most urgent task for the old age insurance is to achieve national co-ordination so as to solve the problem of scattered fund storage, serious depreciation and low scale effect.

"It is a prerequisite to raise the overall level of the fund and to manage it in a unified way throughout the country."

Zheng Bingwen believes that many local pension co-ordination is still at the county level, which will lead to a total of more than 2000 National Pension co ordinate entities.

It is obviously unrealistic for these more than 2000 pools to invest and operate by a state department.

But improving the overall level action is too big and difficult to achieve in a short time.