Study On The Development And Problems Of China's Enterprise Annuity

Annuity, which can effectively alleviate the protection pressure of social basic pension insurance, improve employee's retirement living standard, increase employee's motivation, enhance the enterprise competitiveness, is an important part of Multi-level old-age security system in China and an important supplement to the social basic pension insurance. The ministry of human resources and social security of China issued the "Enterprise Annuity Trial Measures" in January 2004. In the same year on 1st May, the ministry of human resources and social security of China issued "Enterprise Annuity Funds Administration Trial Measures ".The Introduction of the two measures initially laid the basic framework of the enterprise annuity system, made clear in the enterprise annuity system and the direction and operation of the market rules of the enterprise annuity system's investment and management, indicated that China has begun to implement the corporate pension system.China's pension system has undergone considerable development, but there are many imperfections. There are many problems need to focus on resolving, such as the Enterprise Annuity of China develops slowly and its low coverage ratio, the intensity of favorable tax policies are not enough and slow development of small and medium-sized annuity program, weak regulation of government, unsound legal system and so on. Start with the basic theories of occupational pension, this article reviewed the historical development of the enterprise annuity, highlight the status of enterprise annuity, analyze China's Enterprise Annuity System and present existence question, reference and absorb experiences and lessons of the development of overseas enterprise annuity system in USA,Japan,Hong Kong, explored the way of the development of China's enterprise annuity.