Occupational annuity is a kind of welfare provided by enterprises or industry organizations for employees, and it is a supplementary pension system. The specific provisions of occupational annuities vary from country to country and from region to enterprise, but in general, occupational annuities are paid for life. Specific instructions are as follows:

In the occupational annuity system, enterprises or organizations will calculate the amount of annuity that should be paid according to the years, ages and positions of employees in the enterprise or organization after retirement, and then pay it to employees in an agreed way every month or year. Under normal circumstances, the occupational annuity is paid for life, that is, once paid, it lasts until the death of the beneficiary. This is also a big advantage of the occupational annuity system compared with other pension systems, which can provide lifelong protection for employees.

The conditions for granting occupational annuities include the following aspects:

1, length of service and length of service: Occupational annuity plans usually require employees to work in an enterprise or organization for at least a certain number of years before they are eligible for an annuity, such as 5 years, 10 years or more;

2. Age: Under normal circumstances, employees must reach a certain age to start receiving occupational annuities, such as 60 or 65 years old;

3. Retirement status: employees must retire before they can start receiving occupational annuities. Some occupational annuity plans also allow employees to start receiving annuities before retirement, but this usually requires employees to reach a certain age and length of service before retirement;

4. Beneficiary status: If the employee dies, the beneficiary can continue to receive the occupational annuity. Usually, the beneficiary must be the employee's spouse or designated beneficiary.

To sum up, the specific provisions of the occupational annuity plan vary from country to country and from region to enterprise. Employees need to know the occupational annuity regulations of their own enterprises or organizations in order to fully understand their rights and responsibilities.

Legal basis:

Article 2 of the Interim Measures for the Administration of Enterprise Annuity Funds in People's Republic of China (PRC)

The term "occupational annuity fund" as mentioned in these Measures refers to the supplementary endowment insurance fund of institutions and institutions formed by the funds raised by legally established occupational annuity plans and their investment and operation income. These Measures shall apply to the entrusted management, entrusted operation, custody, investment management and supervision and management of occupational annuity funds.

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The term "beneficiary" as mentioned in these Measures refers to the staff of government agencies and institutions participating in the occupational annuity plan.

Article 4

The occupational annuity fund implements centralized entrusted investment operation management. The occupational annuity funds of central state organs and institutions directly under Beijing are entrusted to the pension insurance management center of central state organs and institutions, and the occupational annuity funds of local organs and institutions are entrusted to provincial social insurance agencies.