Analysis On The Incentive Effect And Operation Of Chinese Enterpries Annuity System

China began to implement the basic national policy of family planning from the last century50’s, after entering in twenty-first Century, the social pressure is more and more of the aging society. In order to be able to continue to guarantee the basic living sources in the enterprise after the worker is retired, the country has implemented a series of endowment insurance system. In addition to the basic old-age social insurance mandatory and complete personal spontaneous personal finance, enterprise annuity as a certain policy under the guidance of the staff to participate in voluntary supplementary pension insurance system, more and more attention from the society. Enterprise annuity system is different from the social pension insurance, and also different from commercial insurance, has become an important part of the social security system of the modern multi pillar. Colleagues, the enterprise annuity plan is also regarded as the enterprise human resources management an important component of the strategy, is the enterprise in order to attract and retain excellent employees for the enterprise services and improve labor productivity, to provide retirement benefits.This paper reviews and summarizes the theoretical basis of enterprise annuity system of enterprise annuity system, discusses the development is since the equity motivation. From these basic theory explains the importance of enterprise annuity system and the feasibility of the existing economic system, through such a theory foundation to explain the reasons for nearly20years of rapid development Chinese enterprise annuity system. But because of the implementation of the system is not a long time, the implementation of enterprise annuity mode at present, whether in the Chinese the current macroeconomic environment is generally expected effect is a perspective and direction we can study.This paper conducted in-depth discussions and in the implementation of the law and policy environment, the implementation of the enterprise annuity mode, makes a summary and evaluation of the implementation status of the enterprise annuity in China, elaborates the enterprise annuity system results in the situation of our country and implementation problems from the angle of logical analysis. Next through the method of empirical modeling to the incentive effects of enterprise annuity fund China were analyzed, the contribution rate, the return of fund, wage growth rate and the expected relationship between the rate of substitution is found through the analysis of modeling and empirical data. The empirical research shows, at present Chinese enterprises are generally take the payment level, in accordance with the current income level, only small in the employee retirement replacement rate, the employee retirement life is hard to play a role in protection of fundamental. In the payment level cannot significantly improve the situation, the need to further improve the direction and methods of investment, improve investment rate of return, but also can give some support in tax policy.Finally, this paper through the analysis and comparison of typical case of state-owned enterprises and foreign enterprises, foreign investment enterprises that in the implementation of enterprise annuity system relative or take a more conservative wait-and-see attitude from it, and then puts forward some useful suggestions for the problems found.