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.

Enterprise contributions shall not exceed 8% of the total wages of employees in the previous year. The total contributions of enterprises and employees shall not exceed 12% of the total wages of employees in the previous year. The specific expenses shall be determined through consultation between the enterprise and the employees.

When employees reach the retirement age stipulated by the state, they can receive enterprise annuities from personal accounts on a monthly basis or by stages until the funds in personal accounts are collected; I can also use the funds in the personal account of enterprise annuity to purchase commercial endowment insurance products at one time, receive treatment according to the insurance contract and enjoy the corresponding inheritance right. The funds in the personal account of enterprise annuity for people who have settled abroad can be paid to me in one lump sum according to my requirements. After the death of an employee or retiree, the personal account balance of the enterprise annuity can be inherited.

When employees change their work units, if the new employment unit has established an enterprise annuity or occupational annuity plan, the original enterprise annuity personal account will be transferred to the enterprise annuity or occupational annuity plan of the new employment unit.