我國公務人員退休撫卹基金管理組織調整的基本構想   全文下載

Basic Ideas about Reorganization of Pension Fund Management for Taiwan Public Employees

退撫基金擔負全國軍公教人員退休財源重責，如何兼顧資產安全性與運用效率性，應為研議退撫基金組織改造工作之主要考量。本文借鏡「價值鏈」型態的組織模式，參考美國部分的公部門退休基金管理經驗，從實際執行投資部門的組織型態與執行團隊定位問題切入，並在保留退撫基金監管功能特質前提及最小變動影響下，提出對我國公務人員退撫基金的組織改造建議方向。
為了確保原來監理職能與管理職能的有效區隔，本文採行雙層的組織結構，以有效達成監理層面與管理層面的需求設計，至於實存的組織型態，文中並無定見，惟在考慮「安全」因素的不可替代性以及行政機關改制可能遭遇的轉軌成本，調整現行基金監理委員會及基金管理委員會的功能及組織結構。

Aiming at the topic of government reorganization, this article discusses how to improve the implementation efficiency of our public employees’pension fund, under the prerequisite of giving consideration to capital safety. The main opinion is to refer to the organizational model of“value chain”, learn from the experience of some public departments of USA in terms of retirement funds management. It will start from the organizational status of the actual investment departments and the orientation of execution team, and retain the spirit of the original system in designing the supervisory and management functions of pension funds, to raise actual reorganization recommendations.
The pension fund management system after reorganization should still keep its double-layer structure, and it will be divided into board of trustee at the supervisory layer, and operation departments under CED/management team at the management layer. Among them, supervisory layer plays the role of decision making and monitoring with sufficient support from administrational assistants, and its organizational status maintains the present public agency model, to avoid operation dilemma risen from agency issue and guarantee consistence of decision-making quality. The Executive Director at the management layer is elected and employed by the trustee committee to organize an executive team, take full responsibility for the management, and try to follow inertia of the market as close as possible, to reach requirement by efficiency operation.
Concerning the actual separation or combination of supervisory and management institutes, since it is not a matter of advantage or disadvantage, it is necessary to consider that“safety”factor is irreplaceable, and the minimization of possible transform cost for administrational agency reorganization. It is recommended that separation should be used still, and only to adjust functions and organizational structure of current supervisory committee and management committee.