Research On The System Of China’s Enterprise Pension

Currently China is transforming into the aging society. After the reform ofretirement pension system, we have completed the fundamental framework ofendowment insurance system which, however, is insufficient to release the pressure ofsupporting the aged. Despite the late start and limited coverage in China, as one of thethree pillars of endowment insurance system, the enterprise annuity has been a hotspot of the society, with the burden of aging population.The ministry of labor and social security has issued the Enterprise Annuity PilotScheme, which confirmed the trust management of the enterprise annuity. On thefoundation of management mode, legal relations and various problems involvedshould be addressed so as to improve enterprise annuity system. For the fastdeveloping market, the current system has so many problems to deal with. Forinstance, the legislative level is relatively low and the legislative content is incomplete.How to complete the legal system of enterprise annuity under the trust managementhas become an essential issue, which makes the thesis of this paper.Based on the concept of enterprise annuity, this paper is trying to identify thedisadvantages of it under the trust system, and find out the solutions to those problemsby comparison、analysis and argumentation.The main idea of this paper are as follows：The first chapter is the introduction of the definition and the current situation ofenterprise annuity so as to identify the disadvantages——late start and slowdevelopment, and find out the internal features of enterprise annuity from the angle oftrust management.The second chapter is the introduction to the enterprise annuity trust found. Byanalyzing the features of the enterprise annuity and the function and operationprocedure of the trust, the complicity of the legal relations within this system will beclarified. The legal relations includes both the trust legal relations and the entrust legalrelations.The third chapter clarifies the challenge and possibility of the trust industry so asto accelerate the development of it by solving those problems including the legal orientation of the annuity council,trustee regulation,the inadequacy of the beneficiaryrights and interests protection law and some supervision loopholes.The forth chapter will specifically discuss the approaches to improve the trusteeregulation mentioned above. Fist, due to other incomplete legal provisions.Stipulations of annuity council should be strengthened; second, the obligations oftrustee and relevant principals should be required. The complete intuitional restrictionof trustee will be established on the basis of explicit obligations. A combination ofboth approaches would fulfill the protection to beneficiary’s rights of enterpriseannuity.The last chapter is the discussion of the regulation. The regulation plays anessential part in the development of enterprise annuity. Theregulator should transform from quantitative restriction to the prudent man ruleand actively introduce the risk-based regulation. Besides, the information disclosureshould be applied to guarantee the safety of the enterprise annuity.