Research On Premiums Of Endowment Insurance For Employees Of Water Conservancy Construction Enterprises

More consideration of pinch pennies must first be taken into when water conservancy construction enterprises pay the Endowment Insurance (EI) for their employees. In accordance with endowment insurance policies, the methods for determining the appropriate total benchmark payment of EI were studied. On the basis of the principle of the combination of the fairness and efficiency, the appropriate benchmark premiums of EI for every employee were determined when calculating the total benchmark payment of EI, broadening the differences of benchmark premiums of EI among different employees scientifically and reasonably.First, research the specified method of total payment base of endowment insurance; The endowment insurance payment and annuity benefit is the positive correlation, the proportion of annuity with individual account in entire annuity gradually enhances with staff's payment increase year after year, the payment benefit proportion of staff's endowment insurance improves with increasing age; as the upper limit of 100% substitution rate and average annual age of enterprises, 54-year-old, specify the increase or decrease of total payment as the middle point of 37.5-year-old; according to target substitution rate 60%, calculate in reverse, the payment base is multiple of average salary of the society when 100% substitution rate reaches; calculate the upper limit of advanced scope for endowment insurance payment of enterprises, specify the payment increase scope from average annual age ofenterprises and finally specify the total payment.Second, the subdivision of benchmark premiums of EI for different employees in enterprises wasconducted. Based on the primary data of distribution and insurance payment according to wage criterionsystem of the designed enterprise, different indexes were determined according to employee's workachievements, enterprise profit, on-position situation, etc., then the benchmark premiums of EI fordifferent employees were obtained by multiplying the corresponding indexes with their base wages.Finally, the total sum of the benchmark premiums of EI for every employee should be approached to the studied total sum of benchmark premiums of EI for the enterprise. The final total sum of premiums was determined through adjusting the indexes of individual benchmark premiums of EI, redistributing the balance to employees with excellent achievements, or saving the balance as enterprise pension. This study provides a scientific method for determining the benchmark premiums of EI, whichbenefits the most for both enterprise and its employees from the benchmark premiums of EI.