The Enterprise Annuity Project Design For Sany Heavy Industry Co., Ltd

As one of multi-layer retirement insurance systerm in China, enterprise annuity, is the delay in payment of labor. Meanwhile, it is the enterprise welfare system as well as the important component of human resource management. With the intensified aging population, the burden of retirement expenditure is increasing. As the second pillar of retirement insurance system, enterprise annuity plays an important role in easing the financial pressure, solving the problem of employees' eldercare after retirement, stabilizing of the enterprise human resource,In early 1990's, the enterprise annuity started to sprout and is now still in the beginning stage after more than 10 years development. Although the coverage is now very limited, the enterprise annuity has drawn great attention of the academic community and theory circle due to its huge potential and the significance for the society and enterprises. There are plenty of related theories on enterprise annuity, expecially the great achievement made in enterprise annuity system. However, there is lack of study on combination of the enterprise annuity plan and human resource as well as the practical use of related theories on enterprise annuity. Taking this into account and based on the study of a variety of fundamental therioes, analysed the models and features on enterprise anuity in U.S.A and Japan.Three factors, age, working period and position level, are foundmantel of the design for organization framework, remuneration and payment methods,finally formalize the comanagement enterprise annuity model participated by all staff members and enterprise with the help of financial institute assigned as the third party for implementation. Hope to provide reference and suggestion for SANY to build a perfect human resource management system with diversity management tools and continued incentive effects.To reduce the growing phenomenon of brain drain and enhance cohesion, as well as attract more top talent work for SANY,help to promote the sustainable development of the company.