企业年金计划受益人的财产风险及保护问题探讨

受益人利益及其财产保护是企业年金计划的核心目标。基于信托和委托的企业年金治理结构和运作体系。既是受益人财产制度的创新，又是受益人财产风险的根源。由于利益主体目标函数的不一致和机会主义行为。会出现产权交易申的转移保留权、既得受益权、投资决定权、制衡监管权以及风险补偿权等问题，损害了受益人的利益及财产。因此，为了保护年金计划受益的利益及财产，需要界定利益主体间的权能结构关系，强化其合意行为并控制其机会主义行为，重视其间的利益捆绑机制，在信托和委托多重代理关系中寻求利益激励与约束的均衡点。

Discussion on Property Risk and Protection to Beneficiaries of the Enterprise Annuity Plan

Beneficiaries' interests and their property protection is the core goal of enterprise annuity.Based on the trust and commissioned,management structure and operation system of enterprise annuity is not only an innovation of the beneficiaries' property system,but also the root causes of the beneficiaries' property risks.Because of the benefits inconsistencies and opportunism,there is the right of a transfer of reservation in property rights transactions,the right of vested interests,the right of investment decisions,the right of supervision and balances and risk compensation,which damage the interests and property of beneficiaries.To protect maximum benefits of beneficiaries and the effectiveness in property,we should define the empowerment structure of the main interests in the chain of property rights transaction;strengthen its consensual acts and control their opportunism behavior;attention to their interests bundling mechanism and seek equilibrium of interest incentive and restraint between multi-agent relations of trust and commissioned.