Study On China Construction Bank’s Design Of Employers’ Pension Plan For Small And Medium-sized Enterprises

The basic old-age insurance system is no longer able to meet the pension needs with the aging of society development step by step. To cope with the challenge of the aging of the population, establishing multi-pillar pension security system is widely recognized throughout the world. Corporate pension rised at the historic moment as a supplementary endowment insurance and is playing a important role. Corporate pension in China starts late, The system implemented in 2000, operating model established in 2004, Commercial Banks came into enterprise annuity market as a core role in 2007, The process is developing at a furious speed with a short time.This paper reviews the domestic and foreign research status about this problem, summarizes the related basic theory of corporate pension, select the China Construction Bank(hereinafter referred to as "CCB") enterprise annuity plan as the research object, analyzed the current development situation of CCB’s annuity trustee business, Evaluated the current mode of enterprise annuity plan(DC type). Although it may bring a huge middle business income for CCB at this stage, high risk, cost, and payment etc are not suitable for small and medium-sized enterprises to build enterprise annuity plan. This paper build a complex enterprise annuity plan mode which is suited to the characteristics of the small and medium-sized enterprises(DC-DB combination type) by foreign mature experience after analyzing SMEs’ demand for corporate pension. This plan provide a defined benefit plan for SMEs’ staff who can share the risk with enterprise through establishing individual account and enterprise unified account in accumulation stage which is divided for two period. And then calculate the contribution rates in different stages by setting parameters such as wage growth, investment yield, the average monthly salary, the average age of retirement, etc. Comparing contribution rate with DC type, it can be concluded that the compound plan is more helpful to reduce the contribution pressure for SMEs’ workers and improve their incentives and accelerate the speed of popularizing supplementary pension insurance mechanism. Finally, this paper puts forward the safeguard measures: to overcome the CCB disadvantages on service, strengthen the grassroots’ consciousness of marketing, seize the preferential tax policies, take advantages of CCB’s huge service system.