The Asset Allocation of Enterprise Annuity under Labor Pension Act
| Autor: | Shu-Wen Yang, 楊淑雯 |
|---|---|
| Rok vydání: | 2011 |
| Druh dokumentu: | 學位論文 ; thesis |
| Popis: | 99 In recent years, due to science and technology changing with each passing day and promoting of medical treatment level, mankind''s life continuously extension. It makes the people to value the retired living program. The new labor pension act carried out after July 1, 2005. It based mainly on "personal pension account", and assisted by "annuity insurance". This paper use the most familiar on the market of five investment tools to be the object properties of the asset allocation for the pension fund, respectively are three years time deposit, five years corporate bonds, 30 days commercial paper, the Taiwan weighted stock index, and OTC Taiwan government bonds index. We wish to know that under the lowest guarantee income rate, whether the investment strategy of insurance company will tend to be conservative, and make the pension funds can not to have better investment performance or not. The study periods are from January, 2006 to December, 2010, the periods are totally 60 months. The evidences suggest that under the lowest guarantee income rate, the pension funds invest the most of the properties in three years time deposit. As this paper expected, insurance company adopted conservative strategy and invested the funds on the low risk assets, in order to reach the lowest guarantee income rate, its investment performance only can be close to the lowest guarantee income rate, the labor would not obtain better investment performance easily. And this outcome is against the new labor pension act that wants to rely on the professional ability of the property management of the insurance company. The lowest guarantee income rate like built a wall, making the insurance companies do not want to sell the enterprise annuity products, and also making the annuity insurance system in new labor pension act cannot actually carry out. |
| Databáze: | Networked Digital Library of Theses & Dissertations |
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