论中国养老金信托化运营的监管模式

As the aging population continues to intensify， China's pension payment pressure is gradually increasing. However，China's pension and capital markets have not been effectively integrated， and the preservation and appreciation of pensions faces great challenges. It is imperative to operate the pension fund through trust. Pensions are the old-age money and life-saving money for ordinary people. How to choose an effective supervision model to ensure the safety of funds and prevent risks has become a topic before us. This paper firstly sorts out the way of pension trust operation and the legal relationship between the participating parties， and introduces several international models and international trends of pension supervision. It further analyzes the necessity of reforming the current regulatory model based on China's actual situation， and proposes that with China's large-scale pension investment operation and financial market development， it is necessary to moderately loosen the quantitative restrictions，gradually introduce the prudent person rule，and gradually change from the quantitative restrictions. The rule transitions to the prudent person rule， and gives feasible operational steps.