集体养老基金对中国企业年金改革的国际见证和含义.pdfVIP

Please cite this paper as: Hu, Y. et al. (2007), Collective Pension Funds: International Evidence and Implications for Chinas Enterprise Annuities Reform, OECD Working Papers on Insurance and Private Pensions, No. 9, OECD Publishing. doi:10.1787/123505600000 OECD Working Papers on Insurance and Private Pensions No. 9 Collective Pension Funds INTERNATIONAL EVIDENCE AND IMPLICATIONS FOR CHINAS ENTERPRISE ANNUITIES REFORM Yu-Wei Hu, Colin Pugh, Fiona Stewart, Juan Yermo JEL Classification: G23, P52 COLLECTIVE PENSION FUNDS – INTERNATIONAL EVIDENCE AND IMPLICATIONS FOR CHINA’S ENTERPRISE ANNUITIES REFORM Yu-Wei Hu, Colin Pugh, Fiona Stewart and Juan Yermo August 2007 OECD WORKING PAPER ON INSURANCE AND PRIVATE PENSIONS No. 9 ——————————————————————————————————————— Financial Affairs Division, Directorate for Financial and Enterprise Affairs Organisation for Economic Co-operation and Development 2 Rue André Pascal, Paris 75116, France /daf/fin/wp OECD Working Paper on Insurance and Private Pensions ABSTRACT/RÉSUMÉ COLLECTIVE PENSION FUNDS – INTERNATIONAL EVIDENCE AND IMPLICATIONS FOR CHINA’S ENTERPRISE ANNUITIES REFORM Collective pension funds (CPFs) - occupational pension funds that cover the employees of more than one employer (enterprise) - have been operating in OECD countries for decades. Generally speaking, there are two models, i.e. closed pension funds, with membership restricted to a particular industry or group of industries, and open pension funds open to all types of company. The governance structure of such funds also operates in two ways – via an internal model (with trustees appointed by employers and employees) and external model (with professional, c