Ministry of Human Resources and Social Security
Administrative Measures for Enterprise Annuity Funds
Order No. 11
(Promulgated by Decree No. 11 of the Ministry of Human Resources and Social Security, the CBRC, the CSRC and the CIRC on February 12, 2011 in accordance with the Decision of the Ministry of Human Resources and Social Security on Revising Some Regulations on April 30, 2015)
Chapter I General Provisions
Article 1 These Measures are formulated for the purpose of safeguarding the lawful rights and interests of the parties concerned and standardizing the administration of the enterprise annuity fund and according to the laws such as the Labor Law, the Trust Law, the Contract Law, the Securities Investment Fund Law and other relevant provisions of the State Council.
Article 2 The present Measures shall apply to entrusted management, account management, trusteeship, investment management, and supervision and administration of enterprise annuity funds.
The term "enterprise annuity fund" as mentioned in the present Measures refers to the enterprise supplementary endowment insurance fund formed in accordance with the fund raised by the enterprise annuity plan formulated according to law and its investment and operation income.
Article 3 Enterprises and their employees who have established an enterprise annuity plan shall, as principal, enter into a fiduciary management contract with the enterprise annuity council or the legal person trustee (hereinafter referred to as the trustee).
The trustee shall sign the entrusted management contract with the enterprise annuity fund account management institution (hereinafter referred to as the account manager), the enterprise annuity fund custodian institution (hereinafter referred to as the trustee) and the enterprise annuity fund investment management institution (hereinafter referred to as the investment manager).
Article 4 The trustee shall submit the entrusted management contract and entrusted management contract to the human resources and social security administrative department for the record.
Article 5 An enterprise annuity plan shall have only one trustee, one account manager and one custodian, and may select an appropriate number of investment managers according to the size of assets.
Article 6 In the same enterprise annuity plan, the trustee may not be the same person as the trustee, custodian and investment manager; if the enterprise that establishes the enterprise annuity plan establishes the enterprise annuity council as the trustee, the enterprise and the trustee shall not be the same Trustees and trustees, custodians and investment managers,
The general manager of the investment manager and other investment managers and the employees of the enterprise annuity shall not concurrently hold concurrent posts.
In the same enterprise annuity plan, if a legal person trustee has the qualifications for account management or investment management business, he may also be an account manager or investment manager.
Article 7 When a legal person trustee concurrently acts as an investment manager, it shall establish a risk control system to ensure the independence of the various business management. The establishment of an independent entrusted business and investment business department, office area, operation management process and business system shall be strictly Separation; directly responsible for senior management personnel, entrusted business and investment business department staff shall not concurrently.
In the same enterprise annuity plan, the legal trustee shall treat all investment managers with unified standards and procedures, and embody the principles of openness, fairness and justice.
Article VIII of the enterprise annuity fund contributions must be collected into the trust property custody account, and 45 days into the investment assets custody account. An enterprise annuity fund property is independent of the inherent property of the natural person, legal person or other organization that provides services to the clients, trustees, account managers, custodians, investment managers and other enterprise annuity fund management and other property under its management.
The property and proceeds of the enterprise annuity fund property management, utilization or other circumstances shall be included in the fund property.
Article 9 Where a natural person, a legal person or any other organization that provides services to the enterprise annuity fund is dissolved, legally annulled or declared bankrupt according to law, the principal, trustee, account manager, trustee, investment manager, The enterprise annuity fund property does not belong to its liquidation property.
Article 10 Creditors' rights in property of an enterprise annuity fund shall not be offset against the debts of the natural person, legal person or other organization's inherent property provided by clients, trustees, account managers, custodians, investment managers and other services provided for enterprise annuity fund management. pin. The creditor's rights and debts of enterprise annuity funds of different enterprise annuity plans shall not be offset against each other.
Article 11 The debts of the enterprise annuity fund property itself shall not be enforced on the fund property.
Article 12 A natural person, legal person or any other organization that provides services for the enterprise annuity fund management shall abide by its duties and perform the obligations of honesty, credit, prudence and diligence. Article 12 Trustees, account managers, trustees, investment managers and other organizations.
Article 13 The Ministry of Human Resources and Social Security shall be responsible for formulating relevant policies for the administration of enterprise annuity funds. Human Resources The social security administrative department supervises the administration of enterprise annuity fund.
Chapter II Trustees
Article 14 The term "trustee" as mentioned in the present Measures refers to a trustee institution (hereinafter referred to as a "legal trustee") or an enterprise annuity council of a pension management company, which complies with the state regulations and is entrusted with the administration of the enterprise annuity fund.
Article 15 An enterprise that establishes an enterprise annuity plan shall be discussed and decided through the workers 'assembly or the workers' congress, choosing a legal trustee as a trustee, or setting up an enterprise annuity council as a trustee.
Article 16 The enterprise annuity council shall be composed of representatives of enterprises and employees, and may also employ professionals other than enterprises, of which not less than one third of the employees shall be employed. The Council shall be staffed with a sufficient number of full-time staff.
Article 17 Employee representatives and professionals other than enterprises in the enterprise annuity council shall be democratically elected by the workers 'congress, the workers' congress or other forms. The enterprise representatives shall be appointed by the enterprise.
The term of office of directors shall be stipulated in the articles of association of the enterprise annuity, but the term of office shall not exceed three years. Upon expiration of the term of office of a director, the term of office may be re-elected.
Article 18 The directors of an enterprise annuity council shall meet the following requirements:
(1) having full capacity for civil conduct;
(2) Being honest and trustworthy and having no criminal record;
(3) having the necessary professional knowledge in the fields of law, finance, accounting, social security or other duties of performing the directorship of the enterprise annuity council;
(4) Having decision - making ability;
(5) The unsettled condition of a debt due to a person with a large amount.
Article 19 The Enterprise Annuity Council shall independently manage the enterprise annuity fund business of the enterprise according to law, and shall not engage in any form of business activities without the intervention of the enterprise party, and shall not extract the administrative expenses from the enterprise annuity fund property.
Article 20 The meeting of the enterprise annuity council shall be attended by the director himself. If the director is unable to attend for any reason, he may entrust other directors to attend the meeting in written form, and the power of attorney shall specify the scope of authorization.
A resolution of the Council shall be adopted by more than two-thirds of all the members of the Council. The Council shall keep minutes of the decisions on the matters referred to it, and the members present shall sign the minutes of the meeting.
Article 21 A director shall take the responsibility for the resolution of the enterprise annuity council. If the resolution of the council violates the laws, administrative regulations, the provisions of these Measures or the articles of association of the council, the enterprise annuity fund property shall suffer losses, and the director shall bear the liability for compensation. But who has proved to have made an objection at the time of the vote and recorded it in the minutes of the meeting, the director may be excused from liability.
The enterprise annuity council shall sign the contract with all the directors.
Article 22 A legal trustee institution shall meet the following requirements:
(1) An independent legal person registered in the territory of China with the approval of the State financial regulatory authority;
(2) having a sound corporate governance structure;
(3) The number of full-time staff who have obtained the qualifications of enterprise annuity fund shall reach the required number;
(4) having the required business premises, security facilities and other facilities related to the entrusted management of the enterprise annuity fund;
(5) having a sound internal auditing and monitoring system and a risk control system;
(6) In the recent three years, there is no major violation of laws and regulations;
And (7) other conditions as prescribed by the State.
Article 23 The trustee shall perform the following duties:
(1) to select, supervise and replace account managers, custodians and investment managers;
(2) Formulating strategic asset allocation strategies for enterprise annuity funds;
(3) supervising enterprise annuity fund management according to the contract;
(4) Collecting the payment of the enterprise and the employee according to the contract, paying the enterprise annuity treatment to the beneficiary, and stipulating the specific performance way in the contract;
(5) to accept the client inquiries, regular to the client to submit enterprise annuity fund management and financial accounting reports. Report to the principals and the relevant regulatory authorities in time of major events, and submit regular reports to the relevant supervisory authorities on the business of entrusted management of the enterprise annuity fund;
(6) Records relating to the administration of the enterprise annuity fund shall be kept for at least 15 years from the date of termination of the contract in accordance with the provisions of the State;
And (7) other duties as prescribed by the State and stipulated in the contract.
Article 24 The term "beneficiary" as used in these Measures refers to the employees of the enterprise who participate in the enterprise annuity plan and enjoy the beneficial right.
Article 25 The duties of a legal person trustee shall be terminated in any of the following circumstances:
(1) in violation of the contract with the principal;
(2) making use of the property of the enterprise annuity fund for his benefit or seeking illegitimate interests for others;
(3) dissolving according to law, being revoked according to law, declared bankrupt according to law or taken over according to law;
(4) being disqualified for entrusted management of an enterprise annuity fund according to law;
(5) the principal has evidence that the replacement of the trustee is in the interest of the beneficiary;
(6) the relevant supervisory authorities have sufficient reasons and bases that the replacement of the trustee is in the interest of the beneficiary;
(7) other provisions stipulated by the State and stipulated in the contract.
Where the enterprise annuity council has the circumstances as prescribed in item (2) of the preceding paragraph, the duties of the enterprise annuity council shall be terminated, and the trustee shall be selected as the trustee by the trustee. Where the enterprise annuity council has any of the circumstances specified in items (1), (3) to (7), it shall be reorganized in accordance with the provisions of the State, or the trustee shall be selected as the trustee by the trustee.
Article 26 Where the duties of a trustee are terminated, the trustor shall appoint a new trustee within 45 days.
Where the duties of the trustee are terminated, the entrusted management information of the enterprise annuity fund shall be properly kept and the transfer of the entrusted management business shall be completed within 45 days, and the new trustee shall receive and exercise the corresponding duties.
Chapter III Account Managers
Article 27 The term "account manager" as used in these Measures refers to the professional institution that accepts the entrusted administration of enterprise annuity fund accounts.
Article 28 The account manager shall meet the following requirements:
(1) An independent legal person registered in the territory of China with the approval of the relevant state departments;
(2) having a sound corporate governance structure;
(3) The number of full-time staff who have obtained the qualifications of enterprise annuity fund shall reach the required number;
(4) having a corresponding enterprise annuity fund account information management system;
(5) Having the required business premises, security facilities and other facilities related to the business of the enterprise annuity fund account management;
(6) having a sound internal auditing and monitoring system and a risk control system;
(7) No major illegal or illegal acts in the past three years;
(8) Other conditions as prescribed by the State.
Article 29 The account manager shall perform the following duties:
(1) to establish enterprise accounts and individual accounts of enterprise annuity funds;
(2) to record the investment income of enterprises, staff and workers and enterprise annuity funds;
(3) checking the payment data with the custodian on a regular basis and the property changes of the enterprise annuity fund account, and submitting the verification result to the trustee in time;
(4) Calculating enterprise annuity treatment;
(5) Providing enterprises and beneficiaries with enterprise annuity fund enterprise account and personal account information inquiry service; Providing beneficiary with annual equity report;
(6) to submit to the trustee on a regular basis information such as account management data and enterprise annuity fund account management reports; regularly submit to the relevant regulatory authorities to carry out enterprise annuity fund account management business report;
(7) to keep the enterprise pension fund account management archives at least 15 years from the date of termination of the contract in accordance with the provisions of the State;
And (8) other duties as prescribed by the State and stipulated in the contract.
Article 30 In case of any of the following circumstances, the duties of the account manager shall be terminated:
(1) in violation of the contract with the trustee;
(2) making use of the property of the enterprise annuity fund for his benefit or seeking illegitimate interests for others;
(3) dissolving according to law, being revoked according to law, declared bankrupt according to law or taken over according to law;
(4) being disqualified for the enterprise annuity fund account management business according to law;
(5) the trustee has evidence that the replacement of the account manager meets the interests of the beneficiary;
(6) the relevant supervisory authorities have sufficient reasons and bases that the replacement of the account administrator is in the interest of the beneficiary;
(7) other provisions stipulated by the State and stipulated in the contract.
Article 31 If the duties of the account manager are terminated, the trustee shall determine the new account manager within 45 days.
Where the duties of the account manager are terminated, the enterprise annuity fund account management information shall be properly kept and the handover procedures of the account management business shall be completed within 45 days, and the new account administrator shall receive and exercise the corresponding duties.
Chapter IV Custodian
Article 32 The term "trustee" as used in these Measures refers to a commercial bank that entrusts the trustee to entrust the custody of the enterprise annuity fund property.
Article 33 A trustee shall meet the following requirements:
(1) An independent legal person registered in the territory of China with the approval of the State financial regulatory authority;
(2) having a sound corporate governance structure;
(3) having a specialized asset custody department;
(4) the number of full-time employees who have obtained the qualifications of the enterprise annuity fund shall reach the required number;
(5) Having the conditions for keeping the enterprise annuity fund property;
(6) having a safe and efficient clearing and delivery system;
(7) having suitable business premises, security facilities and other facilities related to the enterprise annuity fund custody business;
(8) having a sound internal auditing and monitoring system and a risk control system;
(9) No major illegal or irregular acts in the recent three years;
And (10) other conditions as prescribed by the State.
Article 34 A trustee shall perform the following duties:
(1) safe custody of enterprise annuity fund property;
(2) opening a fund account and a securities account of the fund property in the name of an enterprise annuity fund;
(3) to set up accounts for the properties of the enterprise annuity funds under custody so as to ensure the integrity and independence of the fund property;
(4) to assign the enterprise annuity fund property to the investment manager according to the instructions of the trustee;
(5) timely handling of liquidation and delivery;
(6) to be responsible for the accounting and valuation of the enterprise annuity fund, to review, examine and confirm the net asset value of the fund calculated by the investment manager;
(7) to issue enterprise annuity treatment to beneficiaries under the instructions of the trustee;
(8) checking the relevant data with the account manager and the investment manager on a regular basis;
(9) to supervise the investment operation of the investment manager in accordance with relevant provisions and to report to the trustee on the investment supervision on a regular basis;
(10) To submit the enterprise annuity fund trusteeship and financial and accounting reports to the trustee on a regular basis; to submit regular reports to the relevant supervisory departments on the business of the enterprise annuity fund custody;
(11) To keep the records, books, statements and other relevant materials of the custody business of the enterprise annuity fund in accordance with the provisions of the State for at least 15 years from the date of the termination of the contract;
And (12) other duties stipulated by the State and stipulated in the contract.
Article 35 Where a trustee discovers that any investment instruction that has not yet been established by the investment manager in violation of the laws, administrative regulations, other relevant provisions or the contract agreement shall be refused to be executed, the investment manager shall be immediately informed and the trustee and the relevant Regulatory reporting.
The trustee shall immediately notify the investment manager of any investment instruction that has been established by the investment manager in violation of the laws, administrative regulations, other relevant provisions or the contract, and report to the trustee and relevant supervisory authorities in a timely manner.
Article 36 In case of any of the following circumstances, the duties of the custodian shall be terminated:
(1) in violation of the contract with the trustee;
(2) making use of the property of the enterprise annuity fund for his benefit or seeking illegitimate interests for others;
(3) dissolving according to law, being revoked according to law, declared bankrupt according to law or taken over according to law;
(4) being disqualified for the enterprise annuity fund custody business according to law;
(5) the trustee has evidence that the replacement of the trustee is in the interest of the beneficiary;
(6) the relevant supervisory authorities have sufficient reasons and bases that the replacement of the custodian is in the interest of the beneficiary;
(7) other provisions stipulated by the State and stipulated in the contract.
Article 37 If the duties of a trustee are terminated, the trustee shall determine the new trustee within 45 days.
If the duties of the custodian are terminated, the custody information of the enterprise annuity fund shall be properly kept and the handing over of the custody business shall be completed within 45 days, and the new trustee shall receive and exercise the corresponding duties.
Article 38 The custodian shall be prohibited from the following acts:
(1) Managed enterprise annuity fund property and mixed management of its inherent property;
(2) Managed enterprise annuity fund property and other property entrusted with mixed management;
(C) managed enterprise pension plans, different enterprise annuity portfolio of enterprise annuity fund property mixed management;
(4) to embezzle or misappropriate the enterprise annuity fund property under trust;
(5) Other acts prohibited by state regulations and contractual stipulations.
Chapter 5 Investment Manager
Article 39 The term "investment manager" as mentioned in the present Measures refers to the professional institution that accepts the trustee to entrust the investment management enterprise annuity fund property.
Article 40 The investment manager shall meet the following requirements:
(1) an independent legal person registered in China with the approval of the State financial regulatory authority and having entrusted investment management, fund management or asset management qualification;
(2) having a sound corporate governance structure;
(3) The number of full-time staff who have obtained the qualifications of enterprise annuity fund shall reach the required number;
(4) having the required business premises, security facilities and other facilities related to the investment management business of the enterprise annuity fund;
(5) having a sound internal auditing and monitoring system and a risk control system;
(6) In the recent three years, there is no major violation of laws and regulations;
And (7) other conditions as prescribed by the State.
Article 41 The investment manager shall perform the following duties:
(1) to invest in the enterprise annuity fund property;
(2) checking the enterprise annuity fund accounting and valuation results with the custodian in time;
(3) to set up the enterprise annuity fund investment management risk reserve;
(4) submit the investment management report of the enterprise annuity fund to the trustee on a regular basis, and regularly submit the report on the investment management business of the enterprise annuity fund to the relevant supervisory department;
(5) Keeping the enterprise annuity fund property accounting vouchers, accounting books, annual financial accounting reports and investment records for at least 15 years from the date of termination of the contract in accordance with the provisions of the State;
And (6) other duties as prescribed by the State and stipulated in the contract.
Article 42 In any of the following circumstances, the investment manager shall promptly report to the trustee:
(1) the unit net value of the enterprise annuity fund fluctuates greatly;
(2) relevant matters that may cause the enterprise annuity fund property to be significantly affected;
And (3) other circumstances as prescribed by the State and stipulated in the contract.
Article 43 The term of the investment manager shall be terminated in any of the following circumstances:
(1) in violation of the contract with the trustee;
(2) making use of the property of the enterprise annuity fund for his benefit or seeking illegitimate interests for others;
(3) dissolving according to law, being revoked according to law, declared bankrupt according to law or taken over according to law;
(4) being disqualified for the investment management business of an enterprise annuity fund according to law;
(5) the trustee has evidence that the replacement of the investment manager meets the interests of the beneficiary;
(6) the relevant supervisory authorities have sufficient reasons and bases that the replacement of the investment manager is in the interest of the beneficiary;
(7) other provisions stipulated by the State and stipulated in the contract.
Article 44 Where the duties of an investment manager are terminated, the trustee shall determine the new investment manager within 45 days.
Where the duties of the investment manager are terminated, the investment management information of the enterprise annuity fund shall be properly kept and the investment management business transfer procedures shall be completed within 45 days. The new investment manager shall receive and exercise the corresponding duties.
Article 45 The following acts shall be prohibited for investment managers:
(1) to confuse its inherent property or the property of others with the enterprise annuity fund property;
(2) unfair treatment of the enterprise annuity fund property and other properties under its management;
(3) Unfair treatment of the assets of the enterprise annuity funds under its management;
(4) to embezzle or misappropriate the enterprise annuity fund property;
(5) Commitments, promises made in guarantee or guaranteed proceeds in a disguised form;
(6) using the other assets under management to seek improper benefits for the clients, beneficiaries or relevant administrators of the enterprise annuity plan;
And (7) other acts prohibited by the state provisions and the contract.
Chapter VI Fund Investment
Article 46 The investment management of an enterprise annuity fund shall follow the principle of prudence and diversification of risks, give full consideration to the safety, profitability and liquidity of the enterprise annuity fund property and carry out specialized management.
Article 47 The assets of an enterprise annuity fund shall be limited to domestic investment. The scope of investment includes bank deposits, treasury bonds, central bank bills, bond repurchase, universal insurance products, investment-linked insurance products, securities investment funds, stocks and credit grades at the investment grade (Including corporate bonds), convertible bonds (including convertible bonds with separate transactions), short-term financing bonds and medium-term notes, and other financial products.
Article 48 The assets of an enterprise annuity fund in each investment portfolio shall be managed by an investment manager. The enterprise annuity fund property shall be calculated at the fair value of the investment portfolio as follows:
(1) Proportion of investment products such as investment bank demand deposits, central bank bills, bond repurchase, and money market funds shall not be less than 5% of the net asset value of the investment portfolio enterprise annuity fund; liquidation reserve, securities liquidation and Market securities purchase funds as liquidity assets; the proportion of investment bonds being repurchased shall not exceed 40% of the net asset value of the portfolio pension fund.
(2) fixed-income products such as investment bank time deposits, negotiated deposits, government bonds, financial bonds, enterprise bonds, short-term financing bills, medium-term notes and universal insurance products, and convertible bonds (including convertible bonds) The proportion of bond funds and investment-linked insurance products (not more than 30% of equity investment) shall not exceed 95% of the net asset value of the investment portfolio enterprise pension fund.
(3) The proportion of investment products such as equities and equity funds, hybrid funds and investment-linked insurance products (the proportion of which is higher than or equal to 30%) shall not exceed 30% of the net asset value of the investment fund. Among them, the enterprise annuity fund shall not directly invest in warrants, but due to investment in stocks, split trading convertible bonds and other investment products derived warrants, warrants should be listed on the trading date of 10 trading days to sell.
Article 49 In accordance with the changes in the financial market and the operation of investment, the Ministry of Human Resources and Social Security shall, in conjunction with the CBRC, the CSRC and the CIRC, make timely adjustments to the scope and proportion of investment.
Article 50 The assets of an enterprise annuity fund of a single investment portfolio shall be invested in the stocks issued by an enterprise and the short-term financing bills, medium-term notes, financial bonds, corporate bonds, convertible bonds A single insurance investment fund, a single universal insurance product or an investment-linked insurance product shall not exceed 5% of the aforesaid securities issuance amount, the fund share or the asset asset management scale of the insurance product; and the fair value , Nor more than 10% of the net worth of the portfolio of the enterprise annuity fund.
A single portfolio of enterprise annuity fund assets invested in a single pension product subject to the provisions of Article 48 shall not exceed 30% of the net asset value of the portfolio enterprise annuity fund and is not subject to the 10% limits.
Article 51 An enterprise annuity fund property under the administration of an investment manager shall be subject to the consent of the entrusted party when investing in the financial products under its management.
Article 52 If the investment in an enterprise annuity fund does not conform to the proportion prescribed in Article 48 or Article 50 or the contractual agreement due to factors other than the investment manager such as the fluctuation of the stock market, the merger of the listed company and the change of the fund scale, Of the investment ratio, the investment manager should be listed on the transaction date of 10 trading days to complete the adjustment.
Article 53 An enterprise annuity fund shall be traded in cash and other ways as prescribed by the State Council, and shall not be used to provide loans or provide guarantees to others.
The investment manager shall not engage in the investment of unlimited liability for the enterprise annuity fund property.
Chapter 7 Profit Distribution and Fees
Article 54 An account administrator shall adopt the share measurement method to carry out account management, and shall be credited to the enterprise annuity fund enterprise account and individual account according to the unit net value of the enterprise annuity fund, weekly or daily.
Article 55 The annual management fee drawn by the trustee shall not exceed 0.2% of the net asset value of the annuity fund of the entrusted enterprise.
Article 56 The management fees of the account manager shall be paid separately by the enterprise that establishes the enterprise annuity plan according to the limit of not more than RMB5 per household per month.
Account management fees for account holders and retirees may be borne by the beneficiary at their own expense and deducted from the beneficiary's personal account as agreed in the contract.
Article 57 The annual management fee for the custodian shall not exceed 0.2% of the net asset value of the trustee enterprise pension fund.
Article 58 The annual withdrawal of management fees by an investment manager shall not exceed 1.2% of the net asset value of the investment management enterprise annuity fund.
Article 59 In accordance with the management of enterprise annuity funds, the Ministry of Human Resources and Social Security shall, in conjunction with the CBRC, the CSRC and the CIRC, make timely adjustments to the relevant administrative fees.
Article 60 The investment manager draws 20% of the management fee collected in the current period as the investment risk reserve of the enterprise annuity fund and is used to make up for the investment loss of the entrusted investment assets of the enterprise annuity fund specifically managed to manage the portfolio at the termination of the contract .
Article 61 When the net asset value of the enterprise annuity fund under the management portfolio is lower than the entrusted investment assets at the time of termination, the investment manager shall use the risk reserve to make up for the current loss of the entrusted investment assets at that time, The risk reserve shall be allocated to the investment manager if there is no investment loss in the current entrusted investment assets of the enterprise's managed investment portfolio or if there is surplus after the risk reserve is made up.
Article 62 The risk reserve for investment management of an enterprise annuity fund shall be deposited in the special deposit account opened by the investment manager at the custodian's place, and the balance may not be withdrawn when the balance reaches 10% of the net asset value of the portfolio fund managed by the investment manager . The Trustee shall not charge fees for the Investment Management Risk Reserve Account.
Article 63 The risk reserve shall be managed by the investment manager and may be invested in high-mobility, low-risk financial products such as bank deposits and bonds. The investment income generated from the risk reserve shall be included in the risk reserve management.
Chapter 8 Program Management and Information Disclosure
Article 64 An enterprise annuity single plan refers to an enterprise annuity fund in which a trustee entrusts a single principal to deliver the enterprise annuity plan under a separate trust.
Enterprise annuity collection plan refers to the same trustee will be more than one client to deliver the enterprise annuity fund, centralized management of entrusted enterprise annuity plan.
Article 65 A trustee institution of a legal person shall establish a trustee management contract for the collective plan, and at least three of the account managers, custodians and investment managers shall be determined for each collective plan; and a commissioned management contract shall be signed with them respectively .
The collection plan trustee shall submit the entrusted management contract, the entrusted management contract signed and the investment portfolio specification of the collective plan to the Ministry of Human Resources and Social Security for the record.
Article 66 The principal of an enterprise annuity scheme may only establish a single plan for enterprise annuity or participate in an enterprise annuity collection plan. After the principal has joined the collective plan for 3 years, the client may choose to withdraw from the collective plan according to the stipulated management contract.
Article 67 In case of any of the following circumstances, a single plan for enterprise annuity shall be changed:
(1) alteration of the enterprise annuity plan trustee, account manager, trustee or investment manager;
(2) The main contents of the enterprise annuity fund management contract shall be changed;
(3) the name change of the enterprise annuity plan;
(4) Other circumstances as prescribed by the State.
When the provisions of the preceding paragraph occurs, the trustee shall re-submit the relevant enterprise annuity fund management contract to the social security administrative department of human resources for the record.
Article 68 When the enterprise annuity single plan terminates, the trustee shall organize the liquidation group to liquidate the enterprise annuity fund property. The liquidation expenses are deducted from the enterprise annuity fund property.
The liquidation group is composed of representatives of the enterprise, employee representatives, trustees, account managers, custodians, investment managers and accounting firms and law firms engaged by the trustees.
The liquidation group shall, within 3 months after the completion of the liquidation work, submit to the human resources and social security administrative departments and beneficiaries a report on the audit of the accounting firm and the liquidation report of the legal opinion issued by the law firm.
Human resources The social security administrative department shall cancel the enterprise annuity plan.
Article 69 Where the beneficiary's work unit has changed and the new work unit has established an enterprise annuity plan, the enterprise annuity individual account entitlement shall be transferred to the enterprise annuity plan management of the new work unit. If the new work unit does not have an enterprise annuity plan, the enterprise annuity individual account equity may be unifiedly managed by the reserved account set up by the original legal person trustee; if the original trustee is the enterprise annuity council, the enterprise and the employee shall choose the legal person trustee Institutional Management.
Article 70 When the enterprise annuity single plan is terminated, the beneficiary enterprise annuity individual account equity shall be transferred to the unified management of the reserve account set up by the original legal person trustee. The former trustee is the enterprise annuity council, and the enterprise and employee Consultation and selection of corporate trusteeship management.
Article 71 In any of the following circumstances, the trustee shall employ an accounting firm to audit the enterprise annuity plan. The audit fee is deducted from the enterprise annuity fund property.
(1) When the enterprise annuity plan is in operation for three consecutive fiscal years;
(2) When the duties of the enterprise annuity plan manager are terminated;
(3) Other circumstances as prescribed by the State.
The account manager, custodian and investment manager shall audit the enterprise annuity plan with the accounting firm from the date of the above occurrence. The trustee shall submit the audit report to the client and the social security administrative department of human resources within 50 days from the date of the above occurrence.
Article 72 The trustee shall, within 30 days after the end of each quarter, submit the Quarterly Report on the Management of Enterprise Annuity Funds to its clients; and submit the enterprise annuity fund management and annual financial and accounting reports to the clients within 60 days after the end of the year.
Article 73 The account manager shall submit to the trustee quarterly report on the management of the enterprise annuity fund account within 15 days after the end of each quarter; and shall submit to the trustee an annual report on the management of the enterprise annuity fund account within 45 days after the end of the year.
Article 74 The trustee shall, within 15 days after the end of each quarter, submit the enterprise annuity fund custody and financial accounting quarterly report to the trustee and submit the enterprise annuity fund custody and financial accounting annual report to the trustee within 45 days after the end of the year .
Article 75 The investment manager shall, within 15 days after the end of each quarter, submit to the trustee quarterly reports on the investment portfolio of the enterprise annuity fund with the financial management data confirmed by the custodian; and submit to the trustee, within 45 days after the end of the year, Annual Report on Investment Management of Enterprise Annuity Funds with Financial Management Data.
Article 76 A legal trustee, account manager, trustee and investment manager shall report to the Ministry of Human Resources and Social Security in a timely manner in any of the following circumstances: The account administrator, custodian and the investment manager shall also copy the same at the same time trustee.
(1) reducing capital, merging, dividing, dissolving according to law, being revoked according to law, deciding to apply for bankruptcy or being filed for bankruptcy;
(2) involving major litigation or arbitration;
(3) changes in the senior management personnel of the board chairman and general manager and directly responsible for the enterprise annuity business;
(4) Other circumstances as prescribed by the State.
Article 77 The trustee, the account manager, the custodian and the investment manager shall report on the administration of the enterprise annuity fund in accordance with the provisions and be responsible for the authenticity and completeness of the contents of the report.
Chapter IX Supervision and Inspection
Article 78 A legal person trustee, account manager, trustee or investment manager shall apply to the Ministry of Human Resources and Social Security for carrying out the business related to enterprise annuity fund management. Before applying to the Ministry of Human Resources and Social Security, the legal trustee, the account manager and the investment manager shall, with the approval of their business supervisory authorities, submit the application to the HRSMS for filing with their business supervisory authorities.
Article 79 The Ministry of Human Resources and Social Security shall, upon receipt of an application by a legal person trustee, account manager, trustee or investment manager, organize an expert evaluation committee and conduct a prudent review in accordance with the provisions. If it meets the conditions, it shall be confirmed by the Ministry of Human Resources and Social Security together with the relevant departments. If the assessment fails to meet the requirements, the applicant shall be notified in writing.
The Expert Review Committee is composed of representatives of relevant departments and social professionals. Each participating expert should be randomly selected from the expert review committee.
Article 80 The trustee, account manager, trustee and investment manager shall carry out the business related to the enterprise annuity fund management and shall be subject to the supervision of the human resources and social security administrative departments.
The business supervision departments of legal trustees, account managers, custodians and investment managers shall supervise their business activities in accordance with their respective duties.
Article 81 The following measures may be taken by the Ministry of Human Resources and Social Security to fulfill their duties of supervision and administration according to law:
(1) to inquire, record and copy information on enterprise annuity fund management contracts and financial accounting reports related to the matter under investigation;
(2) to inquire about the units and individuals concerned with the matter under investigation and require them to make explanations on the relevant issues and provide relevant supporting materials;
(3) Other measures prescribed by the State.
The natural person, legal person or other organization that provides services for the enterprise annuity fund management shall actively cooperate with the inspection, truthfully provide the relevant information, and may not refuse, obstruct or evade the inspection , Shall not lie, conceal or destroy the relevant evidence.
Article 82 The Ministry of Human Resources and Social Security shall carry out investigations or inspections in accordance with the law at least jointly by two persons and shall produce the certificates and bear the following obligations:
(1) Performing duties in accordance with the law and exercising the law impartially and without taking advantage of his position to seek personal gain;
(2) Conserving trade secrets known at the time of investigation or inspection;
(3) To keep the personnel confidential.
Article 83 Where an enterprise annuity council, account manager, trustee or investment manager established by a legal person trustee or a central enterprise group company violates the provisions of these Measures or the relevant provisions on the administration fee and information disclosure of an enterprise annuity fund, The Ministry of Social Security shall order it to make corrections. If the enterprise annuity council established by other enterprises (including the central enterprise subsidiaries) violates the provisions of these Measures or the relevant provisions of the enterprise annuity fund management fees and information disclosure, the administrative department of labor of the province, autonomous region, municipality directly under the Central Government or the city The social security administrative department shall order it to make corrections.
Article 84 Where the illegal acts of the trustee, account manager, custodian or investment manager may affect the safety of the enterprise annuity fund property, or if it is ordered to make corrections without correction, the Ministry of Human Resources and Social Security shall suspend its acceptance of the new Of the enterprise annuity fund management business. The enterprise annuity fund property or the interests of the beneficiaries of damage, shall bear the liability; constitute a crime, shall be held criminally responsible.
Article 85 The Ministry of Human Resources and Social Security shall record the illegal acts, the handling results and the corrections of the legal trustee, the account manager, the custodian and the investment manager, and simultaneously send a copy to the business supervision department. During the period of validity of the enterprise annuity fund management qualification, if there are more than three illegal records or one time or more has been ordered to make corrections without correction, the enterprise annuity fund management business application will no longer be accepted within five years after its eligibility expires.
Article 86 An accounting firm and a law firm shall strictly abide by the relevant professional and industry standards in providing the enterprise annuity intermediary service.
Chapter X Supplementary Provisions
Article 87 Where an enterprise annuity fund is under the administration of the State Council, the provisions thereof shall prevail.
Article 88 These Measures shall enter into force as of May 1, 2011. The Ministry of Labor and Social Security, the China Banking Regulatory Commission, the China Securities Regulatory Commission and the China Insurance Regulatory Commission on February 23, 2004 promulgated the Measures for the Administration of Enterprise Annuity Funds (Ministry of Labor and Social Security Order No. 23) While repealed.
Ministry of Human Resources and Social Security
May 13, 2015