美国个人养老金特征及对我国资本市场改革的启示  

The Characteristics of Personal Pension in the United States and its Implications for China’s Capital Market Reform

作　　者：张一楠 朱永兴 ZHANG Yinan;ZHU Yongxing

机构地区：[1]安徽财经大学经济学院,安徽蚌埠233000 [2]中国财政科学研究院,北京100142

出　　处：《吉林金融研究》2023年第5期8-15,共8页Journal of Jilin Financial Research

摘　　要：我国进行了个人养老金账户制改革,亟需科学细致的配套改革提高个人长期投资参与率,也为资本市场提供新的资金来源。美国运行多年的个人养老金制度,在运行机制、领取原则方面提供了成熟经验。同时,美国在建立个人养老金制度过程中,提高了机构投资者比重、丰富了投资标的、保护了个人投资者,促进了财富再分配和资本市场的健康发展。我国应当从估值体系、风险管理和投资者保护等方面深化改革,实现个人养老金与我国资本市场的高质量发展。China has carried out a reform of the personal pension account system,and there is an urgent need for scientific and detailed supporting reforms to increase individual long-term investment participation rate and provide new sources of funding for the capital market.The personal pension system in the United States,which has been in operation for many years,has provided mature experience in terms of operating mechanisms and receiving principles.Meanwhile,in the process of establishing a personal pension system in the United States,the proportion of institutional investors has been increased,investment targets have been enriched,individual investors have been protected,and wealth redistribution and the healthy development of the capital market have been promoted.China should deepen reforms in valuation systems,risk management,and investor protection to achieve high-quality development of personal pension and China's capital market.

关 键 词：个人养老金 IRAS 资本市场改革 

分 类 号：F830[经济管理—金融学]