Enterprise Annuity System Design

Economically developed countries is the origin of the enterprise annuity. Compared insurance, annuity has longer history for benefit plans established by employers for their employees. In 1970 to date, in order to ease the cost of social security expenditure, many developed countries have put the appropriate policies, and universal implementation of enterprise annuity system for the country to establish a multi-pillar social security system which has been effective implemented.The social security system in China, although construction for years, but the introduction of annuity relatively late, and we know it is still relatively unfamiliar. With the reform of state-owned enterprises and demographic changes, the original social security system clearly insufficient to meet the needs of our people and increasing our social security expenses, resulting in a serious impact on the lives of older persons quality. So the establishment of a sound social security system will be particularly important. China issued a comprehensive policy reform of the social security system in 1991, The original "government to the pension" is replaced by "government help pension", which is basic pension insurance based, and annuity and personal savings supplemented.Since the enterprise annuity in China’s implementation of late, there are still many problems now. Thus, endowment insurance issues become the object of focus in China. It is important to establish effective and in line with China’s national conditions of the new enterprise annuity system for our country’s comprehensive and harmonious development.Firstly, the author represent the basic concepts and the role of corporate annuity, and explain on the type of annuity, and sort out the current development of China’s enterprise annuity. As a example, this paper analyzes Xingyue’s corporate pension Problems combined with the history of the advanced countries. Finally, the problems and the current implementation of the advanced countries encountered in the development of enterprise annuity ways revelation brings to China, according to the above theory, the authors used quantitative analysis, induction and case studies and other methods to analysis Xingyue actual operation and management of corporate pension situation, in line with China’s national conditions selection plan to improve measures for the company cases. The main problem at present is that the current system lags behind, accounting untargeted, national support measures are not perfect, location is not clear and effective supervision and information disclosure. The author analyzes the deficiencies can not be resolved, though, but for the system is not perfect and billing untargeted carried out a detailed analysis. By re-setting formula, the enterprise annuity payment coefficient mainly divided into the seniority factor and gender adjustment factor, so that it can effectively distinguish each level of employee contributions to the company and the extent of working life due to different gender different, and each case of employees enjoy corporate pension benefits is not the same. The author hope that we can fundamentally improve the welfare of employees enjoy, effectively improve the working enthusiasm, and make the system itself more perfect through this program.Finally, the author sums up our current construction of enterprise annuity plan. On the basis of analysis of the paper, the author puts forward three proposals to the country’s policies which make the country more perfect supporting measures, and let countries to become China’s Enterprise Annuity depth reform of support.