CCTV News:From next month, the Measures for Enterprise Annuities issued by the Ministry of Human Resources and Social Security and the Ministry of Finance will be implemented.
Another sum of money? Is your little heart pounding?
Don’t worry yet! As a matter of fact, you can’t get the money right away. Occupational annuities, which are similar to enterprise annuities, have been implemented for several years. What is the difference between them?
What are occupational annuity and enterprise annuity?
occupation pensionIt refers to the supplementary old-age insurance system established by institutions and their staff on the basis of participating in the basic old-age insurance of institutions.
supplementary pensionRefers to the supplementary old-age insurance system voluntarily established by enterprises and their employees on the basis of participating in basic old-age insurance.
Where is this money?
If there is an occupational annuity or an enterprise annuity on your salary slip, the money will not reach you for the time being. So, where is the money?
Occupational annuity:
The implementation of units and individuals to pay, take personal account management;
Social security agencies are responsible for the management of occupational annuities;
The occupational annuity fund implements market-oriented investment operation to maintain and increase its value;
Government departments strengthen supervision to ensure the safety of funds.
Enterprise annuity:
It is jointly paid by enterprises and individual employees.
The establishment of enterprise annuity shall determine the trustee of enterprise annuity, and the enterprise shall sign the entrusted management contract with the trustee on behalf of the principal. Generally speaking, the trustee is a bank or an enterprise annuity Council established in accordance with relevant state regulations.
How to withdraw the money?
Whether it is an occupational annuity or an enterprise annuity, the staff can choose to receive it on a monthly basis after meeting the retirement conditions stipulated by the state, or use it for purchasing commercial endowment insurance products at one time.
For those who have settled abroad, the funds in the personal account of occupational annuity or enterprise annuity can be paid to me in one lump sum according to my requirements. If a staff member dies while in office, the personal account balance in his occupational annuity or enterprise annuity can be inherited.
What about the money when the job changes?
When a staff member’s work unit changes,
If the new employment unit does not implement the occupational annuity or enterprise annuity system, the funds in its personal account will continue to be managed and operated by the original management institution.
If the new employment unit has established the occupational annuity or enterprise annuity system, the funds in the original personal account will be transferred with it.
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