摘要
I
摘要
基本养老保险基金历来被认作是广大参保人员的“养命钱”，安全至上，
投资方面受到国家政策的严格管控，长期以来只能存入银行或购买国债。随
着我国经济发展进入新常态，人口老龄化挑战愈益严峻，基本养老保险基金
支付压力不断加大，存入银行或购买国债的传统单一投资方式已经难以抵御
通货膨胀的风险，更不能适应保值增值的需要，严重影响到基本养老保险制
度的可持续性。为实现基本养老保险基金的保值增值，国家开始放宽投资限
制，出台了具体的投资管理办法，鼓励和支持对基本养老保险基金实行市场
化、多元化、专业化投资。在此背景下，本文以 J 省为研究对象，通过分析
J 省基本养老保险基金运行情况，指出 J 省基本养老保险基金保值增值存在的
投资渠道窄、个人账户空账运行、基金管理体制不健全等问题，列举了美国、
加拿大、新加坡、智利以及全国社会保障基金理事会在养老保险基金投资领
域取得的成功经验，在此基础上提出实现 J 省基本养老保险基金保值增值的
投资策略选择

关键词:基本养老保险基金；保值增值；市场化；多元化；投资策略ABSTRACT
II
ABSTRACT
Basic pension insurance fund has always been recognized as people&39;s
survival money. The most important thing for it is security, so its investment
regulations are far stricter, with it permitted to directly invest only in bank
deposits or government bonds by the policy of our central government for a long
time. With China&39;s economic development entering a new normal, the challenge
of population aging becomes increasingly grim, basic pensions insurance fund
faces enormous pressure to pay, it&39;s getting harder to withstand inflation risks by
the traditional and single method of investing only in bank deposits or
government bonds, let alone to maintain and increase the value, which has a
serious effect on the development of basic pension insurance. Fortunately, a series
of measures have been adopted by our country to maintain and increase the value,
such as relaxing restrictions on investment regulations, issuing specific policies,
encouraging the adoption of multiple, market and professional investment. Under
such background, this article takes the J Province as the research object, by
analyzing the operation of the basic pension insurance fund in J Province, shows
the existing problem of narrow investment channels, the empty individual account
and imperfect management system, etc. lists the advanced experience in pension
fund investment of the United States, Canada, Singapore, Chile and National
Council of social security funds, finally, investment strategies which to maintain
and increase the value of basic pension insurance fund are provided for J
Province.
Key Words: basic pension insurance fund；value maintenance and appreciation；
marketization；pluralistic；investment strategy目录
III
目 录
第 1 章 导论.....1
1.1 选题的背景和意义 ......1
1.1.1 选题的背景 .......1
1.1.2 选题的意义 .......2
1.2 国内外文献综述 .........3
1.2.1 国外文献综述 ...3
1.2.2 国内文献综述 ...4
1.3 研究内容及研究方法 .6
1.3.1 研究内容 ...........6
1.3.2 研究方法 ...........7
第 2 章 养老保险基金相关理论概述.8
2.1 养老保险基金的含义及构成 .8
2.2 养老保险基金的特征 .8
2.3 养老保险基金筹资模式 .........9
2.2.1 现收现付制 .....10
2.2.2 完全积累制 .....10
2.2.3 部分积累制 .....11
2.2.4 我国基本养老保险基金筹资模式 .....11
2.4 养老保险基金投资原则 .......12
2.4.1 安全性原则 .....12
2.4.2 收益性原则 .....13
2.4.3 流动性原则 .....13
2.4.4 社会效益性原则 .........13
2.5 养老保险基金主要投资工具 ...........13
2.5.1 银行存款 .........13
2.5.2 债券 .....14
2.5.3 股票 .....14
2.5.4 投资基金 .........14
2.5.5 基础设施和不动产 .....15目录
IV
2.5.6 金融衍生产品 .15
2.6 养老保险基金投资监管模式 ...........16
2.6.1 谨慎人规则 .....16
2.6.2 严格数量限制规则 .....16
2.7 养老保险基金投资风险 .......17
2.7.1 系统性风险 .....17
2.7.2 非系统性风险 .17
第 3 章 国内外养老保险基金保值增值经验借鉴及启示...19
3.1 国内外养老保险基金保值增值经验介绍 ...19
3.1.1 美国 .....19
3.1.2 加拿大
。。。以上简介无排版格式，详细内容请下载查看