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Part of Pension May Be Invested in Securities Investment Fund
Will China allow part of the old-age pension to be invested in securities investment fund? Pan Yue, deputy director of the Economic Restructuring Office of the State Council, expressed his opinion on this matter, February 15.
At the Symposium of China's Listed Companies in Hong Kong, Pan said that the Chinese government has made the reform of the pension security system the focus of the current economic restructuring, and how to realize a sound interaction between the capital market and pension is a topic under studies.
According to Pan, to bring about the sound interaction mentioned above, we may take the following three points into consideration:
1. Permitting part of the pension to be invested in the securities investment fund. Appropriately increasing the varieties to be traded on the stock market. Offering at opportune time monetary market fund and national bond market fund, especially the A-share composite index futures, so as to enhance the risk-avoiding capability of the securities fund and make it a safe and effective investment tool.
2. Developing experiment with open fund characterized by private-collection and being oriented toward old-age pension.
3. Using foreign experiences for reference, investment restrictions on pension fund should be gradually relaxed along with the development of the capital market, increase of investment variety, raise of the specialized investment level, and improvement of the supervision and control systems.
By PD Online Staff Huang Ying
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