Social security fund plays an important role in maintaining social stability and promoting economic development. Although the government and relevant departments have done a lot of work in perfecting the system construction and strengthening the fund management, and achieved good results, the author recently found in a special audit of a city's social security fund that there are still some problems in maintaining and increasing the value of the social security fund, such as narrow investment channels, low management enthusiasm, delayed receipt of income, incomplete interest calculation, etc., which have affected the maintenance and increasing value of the fund and reduced its sustainable guarantee ability. Therefore, the government and relevant departments need to carefully find and analyze the reasons, face up to the gap, increase the work of maintaining and increasing the value of social security funds, and improve the fund's sustainable guarantee ability.

First, the current situation of maintaining and increasing the value of social security funds

At present, there are three main ways to invest and operate social security funds: deposit with interest, bond purchase and entrusted investment. The author found that by the end of 20 1 1, there were almost no bond purchases and entrusted investments in 13 counties under the jurisdiction of this city. Interest-bearing deposit has become the main investment and operation channel in the city, occupying a dominant position.

Although corporate bonds and entrusted investment have high yields, they are risky and the market is not sound enough. The main reason for managers to avoid responsibility and risk, coupled with the lack of reward and punishment mechanism, is to buy bonds and only buy government bonds issued by the Ministry of Finance. Because deposit interest is risk-free, it naturally becomes the main investment operation channel, and there are many demand periods and few fixed periods, and most of them have not implemented preferential interest rate policies as required. For example, at the end of 20 1 1, the accumulated balance of five social insurance funds in 13 counties under the jurisdiction of this municipality is 21340,000 yuan. From the balance form, demand deposits1091000000 yuan, time deposits 939 million yuan, bond investment 38 million yuan, and other forms are 0. From 2005 to 20 1 1 year, five funds failed to implement the national preferential interest rate policy, resulting in undercharged interest of 15445900 yuan, accounting for 16.63% of the total interest income.

The accumulated interest income of five social insurance funds in this city in recent seven years accounts for about 3.35% of the average balance of the funds, which is only equivalent to the one-year time deposit rate. However, in recent seven years, the average increase of CPI in this city is 4.6%, and the fund income is generally lower than the increase of consumer price 1.25 percentage points. Due to the low rate of return on deposit interest-bearing investment, the income is less than the inflation rate in the same period, and the actual purchasing power declines. The fund has not maintained and increased its value, but its actual guarantee ability has declined.

Second, the factors affecting the preservation and appreciation of social security funds

To sum up, the author believes that the overall operation of the social security fund at present: First, it is conservative and pays attention to safety rather than income; Second, the awareness and initiative of relevant departments in ensuring the preservation and appreciation of funds are low. Investigate its reason, I think there are four main factors:

(A) the management subject is scattered, and the information cannot be * * *

The current management situation of "compartmentalization" and "compartmentalization management" leads to the dispersion of fund management subjects and the inability to share information, which increases the difficulty of fund management and is prone to repeated participation in insurance and financial subsidies. For example, this audit found that 9 130 people in 9 counties and districts in the city participated in the insurance, and they repeatedly enjoyed financial subsidies of 532,200 yuan, resulting in financial losses of 532,200 yuan.

(2) The investment and business scope are single.

The audit found that the investment and operation of social security funds in 13 counties and districts of this city are mainly deposited in banks, with more demand and less fixed deposits, and the fixed deposit period of rollover (mostly 1 year) only accounts for 26. 18% of all deposits, and less government bonds are purchased, with lower yield. High-yield enterprises, financial bonds and other investment fields have not yet set foot in. While ensuring the safety of the fund, the market benefit is sacrificed, and the return on investment is lower than the inflation rate and wage growth rate. The singularity of investment operation determines that it is difficult for the fund to achieve its due guarantee ability.

(3) Inter-departmental work did not form a joint force, and the work was not done carefully.

According to the regulations of the State Council, the social security funds stored in the special financial accounts of social security institutions, in addition to two months' working capital, shall be regularly transferred or purchased in time. During the execution, the fund management institution first applies to the financial department for transfer, and then the financial department issues a payment voucher to the bank where the account is opened, transfers the money and keeps the time deposit certificate. At present, there are some problems: first, although the social security fund management institution deposits funds into the financial special account every day, it fails to know the balance of funds in time and know fairly well; Second, although the financial department is in charge of funds, it is not clear how much to set aside for payment in two months. As long as the fund management institution does not apply, it will not take the initiative to transfer to a fixed term. For example, as of the end of 20 1 1, there are still 6 counties and districts in a city involved in four types of insurance, such as enterprise pension, amounting to 37 1, 37 1.5 million yuan, which have not been transferred or purchased in time according to the regulations.

(D) Lack of value-added funds

Some managers have the idea of not seeking success, but seeking nothing, paying attention to the safety of funds and ignoring the efficiency of funds. Doing it is the same as not doing it, even if the value-added performance is average, it will be unscathed. The result is "inaction, inaction" in maintaining and increasing the value of funds, and even the preferential interest rate policy given by the state to social insurance funds cannot be put in place. How can we actively seek other operating channels to maintain and increase the value of funds?

Third, it is urgent to improve the fund management system and realize the preservation and appreciation.

The operation status and influencing factors of social security fund show that in order to maintain and increase the value of the fund, we should base ourselves on the reality, find the bottleneck that restricts the maintenance and increase the value of the fund from the system and mechanism, focus on improving the management system and mechanism, and gradually get out of the trough of maintaining and increasing the value of the social security fund.

(A) the establishment of "integrated" social insurance management institutions

Learn from the practices of developed countries, gradually integrate the relevant functions of human society, health and other departments, establish an "integrated" social insurance management institution, scientifically and reasonably set up internal institutions, ensure that all sub-institutions share information, operate efficiently, perform their duties, and avoid shirking, which is relatively independent and closely coordinated, forming a virtuous circle within the system, and providing organizational guarantee for realizing the efficient operation and maintaining and increasing the value of funds.

(2) Expand the channels of capital operation.

Establish a professional social security fund operation organization. The handling agency is responsible for the collection, payment and financial management of the fund, and the fund operating agency is responsible for maintaining and increasing the value of the fund. Secondly, make use of the professional advantages of talents and enrich investment channels through expert argumentation and analysis. Actively explore investments in mortgage loans, real estate and foreign assets. Diversified investment can reduce investment risks and improve medium and long-term returns. Deal with the proportion of assets in the portfolio, make quantitative provisions, reduce systemic risks, and provide effective ways to maintain and increase value.

(3) Establish a reward and punishment mechanism for capital preservation and appreciation.

First, units and individuals that have made outstanding contributions in maintaining and increasing value should be strongly praised; Second, we must resolutely rectify the leading bodies of units that are hesitant, lack of innovation and average in maintaining and increasing the value of funds; Third, those who cause losses in maintaining and increasing the value of the fund must be resolutely and severely investigated for responsibility. By increasing the reward and accountability of fund managers, managers' awareness of maintaining and increasing value can be improved, their enthusiasm and initiative in doing this work can be enhanced, and everyone's innovation can be brought into play.