Asset Liability Management Model for Chinese Individual Account Pension Fund Using Multistage Stochastic Programming

Chinese current basic pension fund is combined of social Pooling and individual account,which both are the pillar of the pension system,due to the difference of balance principle,goals and drawbacks brought by combined management mode,it is impertative to make the social pooling and individual account fund work and management separately.Releasing the limits on contribution rate,and paying for according to index,meanwhile as the important institutional investors which play a important role in the capital market,Individual account fund must combine the status with the international advanced research achievements to realize its future payments,reflect the wealth redistribution function and improve the retirement people's life standard.This paper will put forward a comprehensive and dynamic analysis framework.