The "Measures" clarify that the pension funds are operated in a centralized and market-oriented manner, and the provincial governments will collect the pension funds that can be invested in various places into the provincial social security accounts, and entrust the pension fund management institutions authorized by the State Council to invest and operate.
The "Measures" clarify that the proportion of investment in stocks, stock funds, hybrid funds and stock-based pension products shall not be higher than 30% of the net asset value of pension funds; Participating in stock index futures and treasury bond futures trading can only be for the purpose of hedging.
The basic endowment insurance fund is the "life-saving money" of the broad masses and an important public fund. At present, with the continuous improvement of the social security system covering urban and rural areas, the accumulation of pension funds has increased rapidly, and the current policy of bank deposits and purchasing government bonds can no longer meet the needs of maintaining and increasing the value of funds.
Extended data:
Measures for the administration of investment in basic old-age insurance funds
Article 1 These Measures are formulated in accordance with the Social Insurance Law, the Labor Law, the Securities Investment Fund Law, the Trust Law, the Contract Law and other laws and regulations and the relevant provisions of the State Council in order to standardize the investment management behavior of basic endowment insurance funds and protect the legitimate rights and interests of fund clients and related parties.
Article 2 The basic old-age insurance fund mentioned in these Measures (hereinafter referred to as the pension fund) includes employees of enterprises, staff of government agencies and institutions, and pension funds for urban and rural residents.
Article 3 The balance of pension funds in all provinces, autonomous regions and municipalities directly under the Central Government may be determined according to the provisions of these Measures, and the specific investment quota shall be determined after a certain payment quota is reserved, and the investment operation shall be entrusted to an institution authorized by the State Council. Matters such as the amount of funds entrusted for investment, withdrawal and recovery shall be reported to Ministry of Human Resources and Social Security and the Ministry of Finance.
Article 4 Investment in pension funds shall adhere to the principles of marketization, diversification and specialization, so as to ensure the safety of assets and preserve and increase their value.
Article 5 The trustor of pension fund investment (hereinafter referred to as the trustor) and the trustee of pension fund investment (hereinafter referred to as the trustee) shall sign a trust contract, and the trustee shall sign a trust contract with the trustee of pension fund (hereinafter referred to as the trustee) and an investment management contract with the investment management institution of pension fund (hereinafter referred to as the investment management institution).
The rights and obligations of the trustor, trustee, custodian and investment management institution shall be stipulated in the entrusted investment contract, custody contract and investment management contract of pension funds in accordance with these Measures.
Baidu Encyclopedia-Measures for Investment Management of Basic Endowment Insurance Fund