老龄化视角下养老金投资风险及法律规制

Pension Investment Risks and Legal Regulation from the Perspective of Aging

摘要: 随着人口老龄化程度加深，我国养老金赤字压力加大，在此背景下我国通过了《个人养老金实施办法》进行养老金改革的实验。养老金投资存在投资周期长，面向主体庞大的特征，如不进行针对性的立法，将会发生大量的纠纷，风险难以把控。且个人养老金投资方面的法律规范不完善，存在较大的立法空白，因而个人养老金投资合同中存在明显的法律风险。当前个人养老金投资主要存在权利义务划分风险、意思表示瑕疵风险、合同定性风险和合同效力风险，在风险的应对上，应当先对该种合同进行准确的定性，进而划分合同各方的权利义务等问题。个人养老金投资合同主体类型广泛，法律关系复杂，通过立法对其进行规制，在实践中能够减少纠纷，维护当事人的合法权益，在推动构建完善的养老金投资体系中具有重要意义。

Abstract: With the deepening of the aging of the population, the pressure of China’s pension deficit has increased, and in this context, China has adopted the “Individual Pension Implementation Measures” to carry out the experiment of pension reform. Pension investment has the characteristics of long investment cycle and huge subjects; if targeted legislation is not carried out, a large number of disputes will occur, and the risks are difficult to control. Moreover, the legal norms on personal pension investment are not perfect, and there is a large legislative gap, so there are obvious risks in personal pension investment. At present, there are mainly risks in the division of rights and obligations, the risk of defective intention, the risk of contract characterization and the risk of contract validity, and in the response to risks, the contract should be accurately characterized first, and then the rights and obligations of the parties to the contract should be divided. Individual pension investment contracts have a wide range of subjects and complex legal relationships, and regulating them through legislation can reduce disputes in practice and safeguard the legitimate rights and interests of the parties, which is of great significance in promoting the construction of a sound pension investment system.