我国养老保险基金的绩效评价研究

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3.0 陈辉 2024-11-20 6 4 1.39MB 86 页 15积分
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摘 要
近些年来，随着我国对社会保障事业的日益重视，以养老保险基金为主的社
保基金每年以 20%左右的速度增长，但是在基金运作中却出现了诸如基金投资回
报率低，基金缺口巨大，甚至出现违法违规使用养老保险基金而造成基金流失等
问题。
面临这些急需解决的问题，引入养老保险基金绩效评价是十分必要的。我国
的养老保险基金绩效评价工作，无论是在理论上还是实践上都处于初步探索阶段，
研究养老保险基金的绩效评价问题具有一定的理论意义和重要的现实意义。
本文根据我国现行养老保险制度以及养老保险基金的属性特征，把养老保险
基金运作的三个主要环节作为对其评价的主要对象，并根据三个环节各自的特点
及其原则，设计相应的指标体系，对我国养老保险基金的绩效评价进行了研究。
首先，研究了养老保险基金投资运营的绩效评价问题。根据养老保险基金具
有“养命钱”这一特殊使命，引出其投资运营的原则，并对不同的投资工具做了介绍
与比较分析。通过设计几个核心指标，包括投资回报率、超额收益率和风险监控
指标（VAR 模型）等，对银行存款、社保基金投资组合进行绩效评价，并选取社
保基金一零六组合在 2007 年9月的 10 只重仓股为样本作了案例分析，通过计算
得出该投资组合在 2007 年9月的收益与风险水平，与基准组合进行比较，作绩效
评价。
其次，探讨了我国养老保险基金筹资环节的绩效评价问题。根据我国养老保
险基金筹资的原则与模式，提出了以覆盖率与征缴率为主要指标对养老保险基金
的筹资进行绩效评价，并根据缴纳单位的性质做进一步的评价与比较。
再次，对我国养老保险基金支付环节的绩效评价也作了一定的探讨。从分析
影响我国养老保险基金支付的因素入手，论述了支付环节应注意的事项，在此基
础上设计评价指标，并据此对我国养老保险基金的支付进行绩效评价。
最后，总结了本文的研究结论，给出了提高我国养老保险基金绩效水平的政
策建议，并分析了本文存在的不足之处和进一步研究的方向。
关键词：养老保险基金 筹资 投资 支付 绩效评价
ABSTRACT
In recent years, as we pay more and more attention to social security insurance, the
social security insurance fund, mainly endowment insurance fund, annual increase 20%.
However, the operation of fund have emerged severe issues, such as the low rate of
return on investment, the huge gap between fund income and expense, and even abuse
the fund and cause fund loss, and so on. Facing the urgent problems which need to be
resolved, the introduction of endowment insurance fund operation performance
evaluation is very necessary. China's endowment insurance fund operation performance
evaluation, either in theory or in practice is at the preliminary exploration stage. Study
on the endowment insurance fund operation performance evaluation is a theoretical and
practical issue.
According to China's current system of endowment insurance fund operation, as
well as the characteristics of endowment insurance fund, the three main components of
the endowment insurance fund operation as the main target of evaluation, and in
accordance with the characteristics of the three operation sectors, as well as operation
principle, to establishe corresponding index system to evaluate the performance of
endowment insurance fund operation.
First of all, study on the endowment insurance fund investment operation
performance evaluation. Endowment insurance fund has "life insurance" special mission,
thus giving rise to the principles of its investment operation, and various investment
tools are introduced and compared. Through designing core indexes, including the rate
of return on investment and risk control index (VAR model), and other index of bank
deposits, fund investment performance evaluation, and select the combination of Social
Security Fund 106 in September 2007 as a sample of the empirical analysis, calculate
the investment in September 2007 risk level of, then compare with the benchmark to
give an analysis concluded.
Secondly, study on China's endowment insurance fund raising performance
evaluation. According to China's endowment insurance fund raising mode and principle,
put forward a coverage rate and collection rate as key index of the endowment insurance
fund raising performance evaluation. In accordance with the nature of enterprises for
further comparison and evaluation.
The achievement effect valuation on paying link of endowment insurance fund
has also done certain investigation and discussion. Accordingly have started with the
factor affecting the paying of endowment insurance fund, have discussed the item
paying a link should pay attention to, index designing valuation here on the basis, fund
payment is in motion and does business carrying out valuation , comes to a conclusion
to our country endowment insurance.
Lastly, sum up the study, put forward policy advice to improve the performance of
China's endowment insurance fund operation.Then, analysis shortcoming of the paper
and further study of this thesis.
Key Word: Endowment insurance fund, Investment, Raising, Payment,
Performance Evaluation
目 录
中文摘要
ABSTRACT
第一章 绪 论...................................................................................................................1
§1.1 研究的背景及意义 ............................................................................................ 1
§1.1.1 研究的背景..................................................................................................1
§1.1.2 研究的意义..................................................................................................2
§1.2 课题的相关研究综述 ........................................................................................ 3
§1.2.1 国外相关研究..............................................................................................3
§1.2.2 国内相关研究..............................................................................................4
§1.3 研究内容与研究方法 ........................................................................................ 6
§1.3.1 研究内容......................................................................................................6
§1.3.2 研究方法......................................................................................................7
§1.4 本章小结 ............................................................................................................ 8
第二章 我国养老保险制度分析.....................................................................................9
§2.1 我国现行的养老保险制度 ................................................................................ 9
§2.2 我国养老保险基金的属性及特征 .................................................................. 13
§2.2.1 养老保险基金的属性................................................................................13
§2.2.2 养老保险基金的“财政”特征................................................................15
§2.2.3 养老保险基金的“金融”特征..................................................................16
§2.3 我国养老保险基金的基本情况 ...................................................................... 16
§2.4 本章小结 .......................................................................................................... 20
第三章 养老保险基金绩效评价的理论分析...............................................................21
§3.1 绩效评价的本质 .............................................................................................. 21
§3.2 养老保险基金绩效评价的基本理论 .............................................................. 23
§3.2.1 委托——代理理论....................................................................................23
§3.2.2 信息不对称理论........................................................................................24
§3.2.3 成本收益理论............................................................................................26
§3.2.4 资产组合绩效评价理论............................................................................27
§3.3 养老保险基金绩效评价 .................................................................................. 30
§3.3.1 养老保险基金绩效评价的原则................................................................30
§3.3.2 养老保险基金绩效评价的内容................................................................31
§3.4 本章小结 .......................................................................................................... 32
第四章 我国养老保险基金投资的绩效评价...............................................................32
§4.1 养老保险基金投资原则 .................................................................................. 33
§4.1.1 安全第一原则............................................................................................33
§4.1.2 确保收益性原则........................................................................................34
§4.1.3 保持流动性原则........................................................................................35
§4.1.4 资产组合投资原则....................................................................................36
§4.2 投资工具分析 .................................................................................................. 37
§4.2.1 银行存款（现金）类资产投资................................................................37
§4.2.2 债券市场投资............................................................................................37
§4.2.3 股票市场投资............................................................................................38
§4.2.4 海外资本市场投资....................................................................................38
§4.2.5 产业投资....................................................................................................39
§4.3 养老保险基金投资的绩效评价 .......................................................................39
§4.3.1 银行存款的保值判断................................................................................39
§4.3.2 投资组合的绩效评价指标........................................................................41
§4.3.3 投资绩效案例分析....................................................................................45
§4.4 本章小结 ...........................................................................................................53
第五章 我国养老保险基金筹资的绩效评价...............................................................55
§5.1 我国养老保险基金的筹资原则 ...................................................................... 55
§5.2 我国养老保险基金筹资模式的选择 .............................................................. 56
§5.3 养老保险基金筹资的绩效评价 .......................................................................58
§5.3.1 筹资的绩效评价指标................................................................................58
§5.3.2 覆盖率指标分析........................................................................................60
§5.3.3 征缴率指标分析........................................................................................62
§5.4 本章小结 .......................................................................................................... 64
第六章 我国养老保险基金支付的绩效评价...............................................................65
§6.1 影响基金支付的因素 ...................................................................................... 65
§6.2 基金支付须关注的事项 .................................................................................. 66
§6.3 养老保险基金支付的绩效评价 ...................................................................... 67
§6.3.1 支付的绩效评价指标................................................................................67
§6.3.2 基金支出水平分析....................................................................................68
§6.3.3 替代率水平分析........................................................................................69
§6.4 本章小结 .......................................................................................................... 71
第七章 研究结论与政策建议.......................................................................................73
§7.1 研究结论 ...........................................................................................................73
§7.2 政策建议 ...........................................................................................................75
§7.2.1 改善养老保险基金筹资绩效....................................................................75
§7.2.2 提高养老保险基金投资水平....................................................................76
§7.2.3 提升养老保险基金支付绩效....................................................................78
§7.3 进一步的研究方向 .......................................................................................... 78
参考文献.........................................................................................................................81
在读期间公开发表的论文和承担科研项目及取得成果.............................................85
致 谢.............................................................................................................................87
摘要：

摘要近些年来，随着我国对社会保障事业的日益重视，以养老保险基金为主的社保基金每年以20%左右的速度增长，但是在基金运作中却出现了诸如基金投资回报率低，基金缺口巨大，甚至出现违法违规使用养老保险基金而造成基金流失等问题。面临这些急需解决的问题，引入养老保险基金绩效评价是十分必要的。我国的养老保险基金绩效评价工作，无论是在理论上还是实践上都处于初步探索阶段，研究养老保险基金的绩效评价问题具有一定的理论意义和重要的现实意义。本文根据我国现行养老保险制度以及养老保险基金的属性特征，把养老保险基金运作的三个主要环节作为对其评价的主要对象，并根据三个环节各自的特点及其原则，设计相应的指标体系，对我国养老保...

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作者：陈辉 分类：高等教育资料 价格：15积分 属性：86 页 大小：1.39MB 格式：PDF 时间：2024-11-20

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