养老金入市的国际经验借鉴与我国的政策选择

针对国内各界对我国养老金入市的忧虑问题,本文通过对国际主流国家养老金入市的具体做法进行比较分析,认为我国养老金入市有其必要性,同时也具备一定的可行性,我国养老金入市是大势所趋,重点在于政策方面的选择,应该尽快设置独立的监管机构,放松数量限制规则并向谨慎人规则转变,推出独立的养老金个人账户,增加个人选择的自由度,并以资本市场为主要的投资领域,谨慎向其他市场拓展。

International Experience Learnings about Pension Funds into the Capital Markets and Chinese Policy Choice

In view of the public concerns about pension funds into the capital markets in China,this paper comparatively analyzes the methods of pension funds into the capital markets in major countries and points out the necessity and feasibility of pension funds into the capital markets in China.Pension funds into the capital markets is an inevitable trend.The point is the policy choice.An independent supervisory authority should be set up as soon as possible.quantitative limitation regulation should be relaxed and converted into prudent person rule.Independent persional pension account should be opened and the freedom of personal choice should be increased.While capital market is still a major investment area,other markets should be explored with discretion.