The Choice And Design Of The Bank Of BOC Enterprise Annuity Operation Mode

In 2004, Ministry of Labour and Social Security issued "Enterprise Annuities Pilot Scheme" and "The Measures for Enterprise Annuity Fund Management",which are two important milestones in the enterprise annuity history of China, identifying the importance of enterprise annuity in legal level and marking the beginning of China's standard enterprise annuity'development.Thanks to the job experience, the writer has rich knowledge and many thoughts on the problems exiting in the development of enterprise annuity. About the operation mode of the enterprise annuity fund, China chooses the mode of trust operation by legislation. The characteristics are to reflect and protect the beneficiary's interest, identify the responsibility of the fiduciary clearly, and ensure the independence of fund properties. At present, there are two legal relationships about the governance structure of enterprise annuity in China. One is that the trust relationship established among enterprise, staffs and fiduciaries. The other is the relationship of trust agency established between the fiduciary and the account manager, the trustee and the investment manager. The operation of the relationships includes two modes-Council entrusted with the fiduciary mode and corporate mode, whose relative parties have many subjects, including consignor, fiduciary, beneficiary, account manager, trustee, investment manager. By doing research, the writer points out the realistic practice about the management of enterprise annuity operation, discussing that how does the enterprise annuity operate and manage and how does it preserve and increase the value. The essay analyses the mode of enterprise annuity operation, with describing the theoretical basis of the management of enterprise annuity operation. By comparing Council entrusted with the fiduciary mode and corporate mode, the writer contrasts and analyses the mode of enterprise annuity operation based on the own practical work. Combing the practice of BOC, the writer proposes a plan of enterprise annuity operation mode-the enterprise annuity management plus the corporate mode, and also works out the details for the enterprise annuity of BOC.