Enterprise annuity refers to the supplementary old-age insurance system voluntarily established by enterprises and their employees on the basis of participating in basic old-age insurance according to law. It is an integral part of the multi-level old-age insurance system, which is jointly implemented by the macro guidance of the state and the internal decision-making of enterprises.

The employee welfare fund refers to the funds extracted according to a certain proportion of the balance and carried forward according to other regulations for the collective welfare facilities and collective welfare treatment of employees in this unit.

The above is copied.

Enterprise annuity can be withdrawn at retirement, formerly called supplementary endowment insurance.

The employee welfare fund is the profit distribution when the accountant makes accounts, and it is extracted from this project when it is used for employee welfare.