The Research Into Legal Problems Of Annuity Trust

At the end of the century, the plight of old-age insurance pension system lead to the establishment of the wave of enterprise, and the management approaches of enterprise annuity should be adopted, most countries have adopted the Trust's approach to deal with it. Because of the trust property separate from the client and the trustee of property, the enterprise annuity after the establishment of a trust, that is, with debt and bankruptcy-free isolation of recourse from the client, the trustee's own good or bad business conditions and the impact of the recourse of creditors so that they can be in a relatively closed and safe environment to run and maintain the relative independence of the trust funds.In order to protect the enterprise annuity rights and obligations between the to the relationship, and promote the healthy development of enterprise annuity, pension system of China's enterprises has taken the legal framework for the trust to be regulated, and in the near future the corresponding rules and regulations promulgated and the corresponding solution. However, due to a lower level legislation, between the normative documents conflict with each other, related systems, leading to the practice of pension trust in the slow pace of China's development, the small size of the trust assets, small and medium-sized high threshold to establish an annuity trust. In order to improve China's newly established pension trust system, so that old-age insurance system in our country healthy development, and ensuring stability and harmony of society as a whole, this article attempts to trust the legal system on the issue of pensions research.In addition to the introduction and conclusion, this paper is divided into four parts.First, basic theory of pension trust system. The main contents of part are to introduce the basic theory of an annuity trust, in order to lay the foundation for writing. First, introduced the definition and nature of an annuity trust, annuity trust refers to the establishment of enterprise annuity trust behavior, the nature of an annuity trust is not only a business trust and trust in civil or private interest trust. Secondly, the analysis of the annuity trust with the voluntary establishment of the beneficiaries of the accumulation of individual accounts system, supplementary insurance and government regulation of the four characteristics of an annuity trust can be divided into defined contribution and defined two kinds of treatment, and two kinds of this type a comparative analysis. Finally, the pension trust to carry out an analysis of legal relations, pension trust constituted by the three parties, clients, trustees and beneficiaries of the trust relationship between the Annuities with the independence of the trust property. Annuity trust between the parties there are three main legal relations: the beneficiaries of the employee and the employer's labor relations promoter; sponsors, beneficiaries and trustees of the trust relationship between; sponsors and trustees, trustees of pension trust assets between the relationships between the commissions.Second, foreign pension legislations of the trust system. First, select the part of Britain, the United States, Japan and the three national representative system of its pension trust investigation and, secondly, analysis and comparison of these three countries form an annuity trust, the investment operation of the legal system, legal system, tax incentives and regulatory and risk-control legal system.Third, development and problems of China's pension system. Recalling the first part of the pension trust in our country since 1990 the history of the development; Secondly, the analysis of China's pension system, the status of the Trust; Finally, the analysis focused on the trust of our pension system problems. These problems can be found in: 1, the scope of pension investment trusts do not have a strong flexibility. 2, the preferential tax policies for pension trust are not in place. 3, China's regulatory authority between the various functional departments and inter-branch coordination mechanisms imperfect monitoring and effective information sharing mechanism it is difficult to establish, government regulatory agencies is not clear division of authority, it is difficult to achieve real coordination. 4, inadequate information disclosure system is not conducive to the protection of interests of the beneficiaries of pension trusts.Fourth, advices for perfecting annuity trust system. In view of the existing system of pension trust legislation put forward to improve the corresponding recommendations: 1, the investment annuity trust the legal system operator to establish an annuity trust assets to invest in the employer's trade, with the trustees and trustees of the association Legal Regulation of the transaction; 2, the tax aspects of the legal system should encourage the development of an annuity trust, the employer's payment into an annuity trust can be pre-tax expenses, pension when the employee to pay income tax, pension trusts and other investment income, tax benefits can be tax-free policies; 3, supervision and risk control systems should be an annuity trust in all parties to improve their respective internal control system, establish a strict market access system and the regulated market from the system and the establishment of the investment management system to control the security risks of an annuity trust; 4, information disclosure system should be established as the center to the beneficiaries of more stringent through the timely disclosure of complete information to the regulation of the associated non-fair trade.