Annuity, as a supplementary endowment insurance, has more flexible investment channels and upper limit. However, its risks must also be paid attention to: \xd\ 1. The risk of robbing the poor to help the rich in the process of formulating the annuity plan, using the leverage principle of annuity to deprive ordinary employees of their rights and interests and expand the interests of decision-makers or vested interests \xd\ 2. The major risks faced in the operation of the annuity fund are the imperfection of the current annuity investment market, the narrow investment channels and the lack of high-quality managers. Third, the annuity fund operates under the supervision of the labor and social security department, but how many can really be supervised is unknown. This third risk is the risk of supervision and disregard, which may make the enterprise annuity fund concentrate in the hands of banks or insurance companies to make high-risk investments, leading to heavy losses.