The income of enterprise annuity is negative because of investment losses, high management expenses and insufficient funds.

1. Investment loss: The investment portfolio of the enterprise annuity fund includes stocks, bonds, real estate and other assets, and the poor performance of some assets in the market will lead to negative total income of the enterprise annuity fund.

2. High management cost: The management cost of enterprise annuity fund includes fund management fee, custody fee, sales fee, etc. If the cost is too high, the income of enterprise annuity fund will be negative.

3. insufficient funds: the funds of enterprise annuity fund are insufficient to pay employees' pensions, and enterprises need to make up from their own funds, which will affect their financial situation.