本文選題：基本養(yǎng)老保險(xiǎn)金 + 信托��； 參考：《西南大學(xué)》2013年碩士論文

【摘要】：20世紀(jì)八十年代以來(lái),世界老齡化人口增加,我國(guó)也逐步邁入老齡化社會(huì)。為了應(yīng)對(duì)老齡化危機(jī),世界各國(guó)紛紛采取各種措施保障養(yǎng)老保險(xiǎn)金的支付能力,我國(guó)也不例外。目前,基本養(yǎng)老保險(xiǎn)金的運(yùn)營(yíng)效果并不是很好,其運(yùn)營(yíng)情況令人堪憂。因此,尋找基本養(yǎng)老保險(xiǎn)金保值增值的新途徑迫在眉睫。 基本養(yǎng)老保險(xiǎn)金信托運(yùn)營(yíng)是基本養(yǎng)老保險(xiǎn)金保值增值的新途徑,具體是指：各地社會(huì)保險(xiǎn)經(jīng)辦機(jī)構(gòu)或其委托社會(huì)保障基金理事會(huì),將基金交給信托投資公司進(jìn)行管理,并由專門的基金監(jiān)督委員會(huì)和銀監(jiān)會(huì)共同進(jìn)行監(jiān)督,在低風(fēng)險(xiǎn)下,保證基本養(yǎng)老保險(xiǎn)金收益的最大化。對(duì)于統(tǒng)籌基金來(lái)說(shuō),基金管理者即各地的社會(huì)保險(xiǎn)經(jīng)辦機(jī)構(gòu)為委托人,信托公司為受托人,成立一個(gè)信托關(guān)系,其中受益人為全體養(yǎng)老保險(xiǎn)的繳費(fèi)者。而對(duì)于個(gè)人賬戶來(lái)說(shuō),由于個(gè)人賬戶的私有財(cái)產(chǎn)性,就需要有兩個(gè)層次的法律關(guān)系。第一層次是參保者與社保經(jīng)辦機(jī)構(gòu)之間的合同關(guān)系,參保者與社保經(jīng)辦機(jī)構(gòu)是委托與代理的關(guān)系。第二層次是社保經(jīng)辦機(jī)構(gòu)與信托公司之間的信托關(guān)系,其中社保經(jīng)辦機(jī)構(gòu)是委托人,信托公司是受托人,受益人是參保者。各地的社保經(jīng)辦機(jī)構(gòu)也可以將基金委托給社保基金理事會(huì),由其選擇信托公司進(jìn)行投資運(yùn)營(yíng)。此時(shí),各地社保經(jīng)辦機(jī)構(gòu)與社保基金理事會(huì)是委托與代理的關(guān)系,社�；鹄硎聲�(huì)與信托公司之間是信托關(guān)系。 基本養(yǎng)老保險(xiǎn)金被擠占、挪用現(xiàn)象嚴(yán)重,再加上單一的投資渠道,基本養(yǎng)老保險(xiǎn)金的收益率較低。而在基本養(yǎng)老保險(xiǎn)金信托運(yùn)營(yíng)過程中,信托財(cái)產(chǎn)的獨(dú)立性可以有效保障基金的完整性和獨(dú)立性,防止挪用現(xiàn)象的發(fā)生；信托專業(yè)理財(cái)?shù)奶攸c(diǎn)使信托運(yùn)營(yíng)在運(yùn)營(yíng)成本、運(yùn)營(yíng)收益和運(yùn)營(yíng)風(fēng)險(xiǎn)防范方面有極大的優(yōu)勢(shì),保障了基金的安全性和收益性；信托運(yùn)營(yíng)的連續(xù)性也符合基本養(yǎng)老保險(xiǎn)金的運(yùn)營(yíng)要求。目前,我國(guó)出現(xiàn)了一些基本養(yǎng)老保險(xiǎn)金信托運(yùn)營(yíng)的實(shí)踐,并取得了良好的運(yùn)營(yíng)效果。然而,專門的基本養(yǎng)老保險(xiǎn)金投資運(yùn)營(yíng)管理法律的缺失以及我國(guó)信托法律存在的缺陷,導(dǎo)致我國(guó)基本養(yǎng)老保險(xiǎn)金信托運(yùn)營(yíng)無(wú)法發(fā)揮最大的功效。 智利、英國(guó)、美國(guó)三個(gè)國(guó)家的養(yǎng)老保險(xiǎn)金運(yùn)營(yíng)都采取了信托的方式,為我國(guó)完善基本養(yǎng)老保險(xiǎn)金信托化運(yùn)營(yíng)提供了很多值得借鑒的經(jīng)驗(yàn)。首先,法律體系的完善是保障基本養(yǎng)老保險(xiǎn)金信托運(yùn)營(yíng)的必備條件�；攫B(yǎng)老保險(xiǎn)金信托運(yùn)營(yíng)需要專門的立法予以確立,并完善相關(guān)的配套法律。其次,基金的管理部門和運(yùn)營(yíng)部門要分開,形成具有競(jìng)爭(zhēng)性的運(yùn)營(yíng)機(jī)制。再次,要拓寬養(yǎng)老保險(xiǎn)基金投資渠道,采取多元化投資組合運(yùn)營(yíng)方式。分析養(yǎng)老保險(xiǎn)金的性質(zhì)和功能,選擇合適的投資方式。實(shí)行現(xiàn)收現(xiàn)付的統(tǒng)籌基金在信托運(yùn)營(yíng)時(shí),應(yīng)嚴(yán)格控制投資范圍；實(shí)行積累制的個(gè)人賬戶在信托運(yùn)營(yíng)時(shí)可以采取多元化的投資方式。最后,加強(qiáng)政府職責(zé)和監(jiān)管。 根據(jù)中國(guó)的具體情況和外國(guó)的經(jīng)驗(yàn)借鑒,完善基本養(yǎng)老保險(xiǎn)金信托運(yùn)營(yíng)的法律建議有以下三個(gè)方面：第一,應(yīng)該出臺(tái)專門規(guī)制養(yǎng)老保險(xiǎn)金運(yùn)營(yíng)的法律,將信托的運(yùn)營(yíng)模式進(jìn)行詳細(xì)規(guī)定。與此同時(shí),完善信托方面的法律法規(guī),保障基本養(yǎng)老保險(xiǎn)金信托運(yùn)營(yíng)的順利進(jìn)行。在相關(guān)的法律法規(guī)中確定基本養(yǎng)老保險(xiǎn)金信托運(yùn)營(yíng)的主體、投資原則和投資范圍,并完善對(duì)受托人的監(jiān)管；第二,明確基本養(yǎng)老保險(xiǎn)金的獨(dú)立性,合理限制委托人的權(quán)利；第三,完善受托人的義務(wù)和歸責(zé)原則,受托人應(yīng)遵守忠實(shí)義務(wù)、謹(jǐn)慎投資義務(wù)、保證最低收益率義務(wù)和分散投資義務(wù),明確其歸責(zé)原則應(yīng)為過錯(cuò)推定原則。
[Abstract]:Since the 80s twentieth Century, the aging population in the world has increased and our country is gradually entering an aging society. In order to cope with the crisis of aging, all countries in the world have taken various measures to ensure the ability to pay for the pension insurance, which is no exception in our country. At present, the operation effect of the basic pension insurance is not very good, and its operation is worrying. Therefore, it is imminent to find a new way to maintain and increase the value of the basic old-age insurance.
The basic pension fund trust operation is a new way to maintain and increase the value of the basic endowment insurance. It refers to the social insurance agencies or the Council of the social security fund, which is entrusted to the trust and investment company to manage, and is supervised jointly by the special fund supervision committee and the CBRC, under the low risk. The maximization of the income of the basic endowment insurance gold. For the overall fund, the fund manager is the principal of the social insurance agency all over the country, and the trust company establishes a trust relationship for the trustee, in which the beneficiary is the payer of the whole pension insurance. For the individual account, the private property of the individual account is due to the private property of the individual account. There are two levels of legal relations. The first level is the contractual relationship between the insured and the social security agency. The insured and the social security agency is the relationship between the principal and the agency. The second level is the trust relationship between the social security agency and the trust company. The social security agency is the principal, the trust company is the trustee and the trust company is the trustee. The social security agencies in all localities can also entrust the fund to the Council of the social security fund to choose the trust companies to invest and operate. At this time, the social security agency and the social security fund board are the relations between the agency and the agency, and the Social Security Fund Council and the trust company are trust relations.
The basic old-age insurance gold is squeezed, the misappropriation is serious, and a single investment channel is added, and the income rate of the basic pension insurance is low. In the course of the basic pension fund trust operation, the independence of the trust property can effectively protect the integrity and independence of the fund and prevent the occurrence of misappropriation; the special financial management of the trust is special. The trust operation has a great advantage in operation cost, operating income and operation risk prevention, which ensures the security and profitability of the fund. The continuity of trust operation also meets the operation requirements of the basic pension insurance. At present, some basic pension insurance trust operations have appeared in China, and good transportation has been achieved. However, the lack of the special basic pension fund investment management law and the defects of our trust law lead to the failure of the basic pension insurance operation in our country to play the most important role.
The operation of pension insurance in three countries in Chile, Britain and the United States has taken a trust mode, which provides a lot of experience for our country to improve the basic pension insurance operation. First, the perfection of the legal system is the necessary condition for the operation of the basic endowment insurance. The special legislation will be established and the relevant relevant laws are perfected. Secondly, the management and operation departments of the fund should be separated to form a competitive operation mechanism. Thirdly, we should broaden the investment channels of the endowment insurance fund and adopt a diversified portfolio operation mode, analyze the nature and function of the old insurance gold, and choose the appropriate investment. We should strictly control the scope of investment in the trust operation, and carry out a diversified investment mode in the trust operation of the accumulative individual account. Finally, the government's responsibilities and supervision should be strengthened.
According to the specific situation of China and the experience of foreign countries, there are three legal proposals to improve the basic pension fund trust operation. First, the law should be issued to regulate the operation of pension insurance, and the operation mode of the trust should be stipulated in detail. At the same time, the laws and regulations of the trust should be perfected to guarantee the basic maintenance. The operation of the old insurance trust is carried out smoothly. In the relevant laws and regulations, the main body of the basic pension insurance trust operation, the principle of investment and the scope of investment, and the supervision of the trustee are perfected; second, the independence of the basic pension insurance is clearly defined, the rights of the principal are restricted reasonably; and third, to perfect the obligations and imputation of the trustees In principle, the trustee should abide by the duty of loyalty, the obligation of prudent investment, the obligation to guarantee the lowest rate of return and the obligation to disperse the investment, and make clear that the principle of its liability should be the principle of presumption of fault.

【學(xué)位授予單位】：西南大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2013
【分類號(hào)】：D922.182.3;D922.282

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