Enterprise annuity refers to a supplementary pension insurance system voluntarily established by enterprises and their employees on the basis of participating in basic pension insurance in accordance with the law.

To put it simply, the enterprise annuity is a supplementary pension insurance system. Payment is not mandatory and is entirely voluntary.

You can apply for enterprise annuity after retirement. If employees reach the legal retirement age, they can generally choose to receive enterprise annuity in one lump sum, monthly or in installments when they retire.

After the money in our account is collected, we will no longer enjoy the benefits of enterprise annuity.

If the insured dies before reaching retirement age, the balance of the individual enterprise annuity account can be inherited.

Extended information: The conditions for employees to participate in the enterprise annuity plan: (1) Sign a labor contract with the unit and the probation period expires; (2) Participate in the enterprise’s basic pension insurance for employees in accordance with the law and fulfill payment obligations.

Reforms are carried out in accordance with the method of "optimizing approval services", the stock situation is updated every year, and the changes in fund management institutions and qualifications are updated in real time.

In accordance with the work requirements on the "decentralization, regulation and service" reform and "Internet + supervision", combined with the development of the annuity market, when new licensed companies are planned to be added, the acceptance time, acceptance conditions, processing standards, and the number of additions will be publicly announced online.

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The specific implementation measures are as follows: Approval level Ministry of Human Resources and Social Security.

Licensing conditions Applicants should meet the "Interim Measures for the Qualification Certification of Enterprise Annuity Fund Management Institutions" (Ministry of Labor and Social Security Order No. 24, revised in 2015 in accordance with the "Decision of the Ministry of Human Resources and Social Security on Amending Some Regulations", and in 2016 in accordance with the "Decision of the Ministry of Human Resources and Social Security on Amending Some Regulations")

The second batch of decisions to clean up and standardize 192 departmental administrative examination and approval intermediary service matters has been revised).

List of application materials 1. Qualification recognition of enterprise annuity fund management institutions (national level): (1) Qualification application form.

(2) Resource allocation description.

(3) Management systems and processes.

(4) Applicant’s self-discipline commitment letter.

(5) Relevant supporting materials.

(6) Business feasibility report.

The material paradigms are disclosed in detail in the announcement published on the official website of the Ministry of Human Resources and Social Security.

According to the different needs for the number of institutions with different qualifications due to the development of the annuity market, the content of each announcement will be adjusted.

2. Recognition of qualification renewal of enterprise annuity fund management institutions (national level): Enterprise annuity fund management institutions need to provide a qualification renewal application report and the applicant's self-discipline commitment letter.

The application report and self-discipline commitment letter paradigms are disclosed in detail in each announcement issued on the official website of the Ministry of Human Resources and Social Security.

Procedures for enterprise annuity fund management institution qualification accreditation (national level): (1) Publish an announcement to the public on the official website of the Ministry of Human Resources and Social Security.

(2) The applicant unit submits application materials at the specified time and place. The approval department will initially review the application materials. Those that do not meet the requirements will not be accepted. Incomplete materials will be notified to make corrections and those that meet the conditions will be issued an acceptance notice.

(3) Send a letter to the industry authority to inquire about the penalties imposed on the applicant institution in the past three years.

(4) Organize on-site inspections as appropriate.

(5) Organize expert review.

(6) After reviewing the expert review opinions in accordance with regulations and procedures, make an administrative licensing decision and announce the results on the official website of the Ministry of Human Resources and Social Security.