Under the system of independent account,the individual account fund is separated from social pool fund,and runs in the model of "full account".With the fund accumulated constantly and the "empty account" is made full,individual account will confront with strong pressure of maintaining and increasing its value.Because the individual account possesses private nature,we should transfer the individual account to the independent private fund Management Company to manage,and operate according to the marketization.As to individual account capital's operation,the government does not bear direct responsibility;just shoulder the responsibility of supervision.The marketization of pension fund's investment is a progressive course.The government should still restrict individual account fund's investment,but widen the fields gradually.Meanwhile,in order to reduce the risks and obtain steady returns,we should choose better asset types and do rational disposition for individual account fund according to our country's real condition.