Study Of The Legal System Of China's Enterprise Annuity Trust

The enterprise annuity system, a supplement to the basic assurance system,is regarded as a most important component of the multi-support social securitysystem for the retired and a very important factor of the enterprise human resource as well, which is on purpose of raising the pension level.At present, the enterprise annuity system's already drawn the attention of various countries as the focus on the reform of the socialsecurity day by day. Nowadays, we are on the starting point of developing a China-style social security system, so what plays an important role in that is how to establish a practical enterprise annuity system right for our country. As a matter of fact, law has passed to practice the enterprise annuity system. As for the operation pattern of the enterprise annuity fund, it's the trust pattern—namely the enterprise annuity trust. On base of the trust law, it constructs a frame of the enterprise annuity fund operation mainly with the rights and obligations of those involved . In this regard, a fund by the enterprise and employees is managed in the form of trust for the future pension for the employees after retirement. Hence, what we should pay close attention to is whether and how trust pattern works properly for the enterprise annuity fund—which is the starting point and the foothold of the thesis as well.To start with, the thesis proves that there are similarities between the enterprise annuity operation and the legal system of trust from the perspective of jurisprudence on trust to a certain extent explored, comparing and analizing the four modes of the enterprise annuity operation, arguing focrfully that it is the trust mode that is the best choice for the enterprise annuity operation. Through the illustration of the legal relationship between the trustor, trustee and beneficiary, there comes the careful analysis of the trust flow in enterprise annuity operation. Then follws the evolution, present situation and legal flaws. With the help of the study on the typical enterprise annuity trust overseas and the enlightment, it is clearly advocated that the faith duty should be seriously observed, and it is time for the government to carry out tax preferrnce and change the supervising style for the enterprise annuity trust in our country.The first chapter is that the trust mode is the right choice for the enterprise annuity fund operation in China. To begin with, it illustrates that there are similarities between the trust principles and the purpose of the enterprise annuity fund, and the trust law provides the latter with a sound foundation. Furthermore, there comes the introduction to enterprise annuity fund operation in the world such as the trust mode, contract mode, company mode and fund mode. Through careful study, it comes to the point that it is the enterprise annuity trust that enjoys unique superiority of safety and efficiency. Finally, it draws a conclusion that the trust mode will work theoretically and practically for the enterprise annuity.The second chapter is a study on the enterprise annuity trust pattern overseas with an enlightment for our country. Britain is regarded as a success for its advanced legal system, the United States for its perfect legislation, effective tax system and flourishing finance market, and Australia for its commercial management, which provides us with relevant advice.The third chapter is in details the analysis of the legal framework for the enterprise annuity trust pattern. It puts forward the rights and obligations between the trustor, trustee and beneficiary with the illustration flow. With the careful analysis of the two types of trustees from the aspect of management, specialty, communication, cost, efficiency and supervision, it goes to the point that corporate body is the preferable trustee indeed.The fourth chapter is on the evolution, the present situation and the legal flaws of the enterprise annuity trust in China. As a matter of fact, it is in great demand of timely laws and regulations, incentive preference, scientific management and flexible investment channels.The fifth chapter is about the countermeasure and suggestion for the construction of practical enterprise annuity trust in our country in three aspects. One is to advocate regular faith duty, one is a proposal for the government to improve the supervising, and the other is urging the government to carry out the preference in tax system for good.