Annuity is a supplementary pension rule and system independently created by the company and its employees on the premise of participating in pension insurance in accordance with the relevant provisions of the "Enterprise Annuity Measures".

The pension insurance after retirement is the basic pension benefit paid in accordance with the relevant provisions of the Social Security Law after the pension insurance is paid in accordance with the regulations and the retirement conditions stipulated by the law are met. The annuity is different from the social pension insurance and the administrative enterprise.

The company's enterprise annuity falls within the scope of the company's employees' supplementary pension.

The payment of annuity is based on the content of the enterprise annuity plan. The employees of the enterprise allocate the payment in proportion. The overall payment ratio is 12%, of which the company payment ratio is 8% and the employee personal payment ratio is

4%. The company's payment is credited to the employee's personal annuity account in accordance with the proportion and method established by the enterprise annuity plan, and the employee's personal payment is credited to his or her own personal annuity account.

The company's payment for this period is credited to the difference between the maximum amount and the average amount in the employee's personal annuity account.

The maximum amount and the average amount of the company's current payment credited to the employee's personal annuity account cannot exceed 5 times.

When an employee reaches the statutory retirement age stipulated by law, part of the company's contribution will be credited to his personal account, which belongs to the employee's personal property.

Employee personal accounts are funded from three sources.

The first is part of the employee's personal contribution; the second is part of the company's contribution; and the third is the long-term investment generated.

After an employee retires at the statutory retirement age stipulated by law, the pension is paid in the pension fund through the social security institution, and the annuity is paid through the annuity entrusting department, and is not calculated and paid together with the pension insurance every month.

When employees who meet the statutory retirement age stipulated by the state for annuity benefits, they can also specify the method of claiming benefits according to the enterprise annuity plan, which is divided into the following ways to receive benefits. The first is to receive it on a monthly basis.

The monthly payment is based on the total amount of the personal annuity account divided by the corresponding accrual number of months, and no further payment will be received until the payment is completed; the second is to receive it in batches.

It can be obtained by purchasing commercial insurance and divided into multiple installments or on an annual basis according to the commercial insurance policy; the third is to receive it in one go.

For example, when studying abroad (overseas) and living, etc., annuity personal account assets can also be paid to individuals in one lump sum according to their own regulations.

After the death of an employee or retiree, the balance of his or her personal annuity account can be inherited by relatives.

Generally speaking, annuity is a supplementary pension for enterprise employees. The scope of participation in annuity should be determined according to the company's enterprise annuity plan. After retirement, employees who pay annuity need to receive in addition to pension and pension.

Annuity can be received monthly, in batches or in one lump sum, but it is not calculated into your pension insurance.