On August 23, 2015, the State Council issued the "Basic Pension Insurance Fund Investment Management Measures".
The "Measures" clarify that pension funds implement centralized operations and market-oriented investment operations. Provincial governments will collect investable pension funds from various places into provincial social security accounts and entrust them to the State Council for authorization. Pension fund management institutions conduct investment operations.
The "Measures" clarify that the total proportion of investment in stocks, stock funds, hybrid funds, and stock-based pension products shall not exceed 30% of the net asset value of pension funds; participation in stock index futures and treasury bond futures transactions shall only Can be used for hedging purposes.
The basic pension insurance fund is the "life-saving money" for the general public and is also an important public fund. At present, as the social security system covering urban and rural areas continues to improve, the accumulation of pension funds has increased rapidly, and the bank deposits and government bond purchases stipulated in the current policies can no longer meet the needs of maintaining and increasing the value of funds.
Extended information:
Basic Pension Insurance Fund Investment Management Measures
Article 1 is to regulate the investment management behavior of basic pension insurance funds and protect the fund principals and related parties. The legitimate rights and interests of the parties concerned are formulated in accordance with the Social Insurance Law, Labor Law, Securities Investment Fund Law, Trust Law, Contract Law and other laws and regulations, as well as relevant provisions of the State Council.
Article 2 The basic pension insurance fund (hereinafter referred to as the pension fund) as referred to in these Measures includes pension funds for enterprise employees, staff of government agencies and institutions, and urban and rural residents.
Article 3: The balance of the pension funds of each province, autonomous region, and municipality directly under the Central Government can be determined in accordance with the provisions of these Measures after setting aside a certain amount of payment fees, and then entrusting the investment and operation to institutions authorized by the State Council. Matters such as the amount of funds for entrusted investment, transfers and withdrawals, etc. must be reported to the Ministry of Human Resources and Social Security and the Ministry of Finance.
Article 4: Pension fund investments should adhere to the principles of marketization, diversification, and specialization to ensure asset safety and achieve value preservation and growth.
Article 5 The pension fund investment client (hereinafter referred to as the client) and the pension fund investment trustee (hereinafter referred to as the trustee) sign an entrusted investment contract, and the trustee and the pension fund trusteeship (hereinafter referred to as the trustee) ) signs a custody contract and an investment management contract with a pension fund investment management institution (hereinafter referred to as the investment management institution).
The rights and obligations of the client, trustee, custody institution and investment management institution shall be stipulated in the pension fund entrusted investment contract, custody contract and investment management contract in accordance with these Measures.
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