Enterprise annuity refers to the supplementary old-age insurance system voluntarily established by enterprises and their employees on the basis of participating in the basic old-age insurance according to law, which evolved from the original enterprise supplementary old-age insurance and personal savings old-age insurance.

199 1 the State Council issued the decision on the reform of the endowment insurance system for enterprise employees (Guo Fa [1991] No.33). The document stipulates that in addition to the basic old-age insurance, the supplementary old-age insurance for enterprises shall be established by enterprises according to their own economic capacity, and the required expenses shall be paid from the rewards and welfare funds of enterprises' own funds. Personal savings endowment insurance is voluntarily participated by employees according to their personal income.

1April, 1993, the provincial company issued the Interim Measures for Supplementary Endowment Insurance for Enterprises and Personal Savings Endowment Insurance for Employees with the document of Beijing-Tianjin Joint Word [1993]19, requiring all subordinate units to implement supplementary endowment insurance and savings endowment insurance simultaneously, with the same standards. The standard of supplementary old-age insurance should be determined according to the economic situation of enterprises, and at the same time, combined with the income level of employees, to ensure the consistency of supplementary and savings standards; To establish enterprise supplementary pension insurance and personal savings pension insurance ledger, registration card, enterprise supplementary pension insurance and personal savings pension insurance to fill in the "employee pension insurance manual", and confirmed by the employee signature and seal. The insurance premium collected shall be deposited by the insurer into a special account opened in a local bank, and no unit or individual may use it without authorization.

In 2000, the State Council decided to rename enterprise supplementary endowment insurance as enterprise annuity, implement market-oriented management and operation, and give tax incentives to enterprises.

/kloc-0 and February 2004, the Ministry of Labor and Social Security successively formulated and promulgated the Trial Measures for Enterprise Annuity and the Interim Measures for the Qualification of Enterprise Annuity Fund Management Institutions, and jointly formulated and promulgated the Trial Measures for Enterprise Annuity Fund Management with the China Banking Regulatory Commission, the China Securities Regulatory Commission and the China Insurance Regulatory Commission, which established the basic framework of the enterprise annuity system and embodied the principles of national policy support, independent establishment of enterprises, market management and operation, and strengthening government supervision.

In May, 2004, the provincial company drafted the Measures for the Implementation of Enterprise Annuity of Shanxi Electric Power Company according to the Notice of the Ministry of Labor and the General Office of Shanxi Provincial People's Government on Implementing the Opinions on Relevant Issues (Jin Zhengban Fa [2004] No.64) and the relevant regulations of State Grid Corporation, which was formally established through collective discussion and adoption by the company's workers' congress. Our company subsequently issued the Detailed Rules for the Implementation of Enterprise Annuity of Taiyuan Power Supply Branch. In accordance with the national and provincial regulations, that is, 1/12 (8.33%) of the total wages of employees in the previous year, the enterprise annuity is turned over to the provincial company, and the provincial company is turned over to the State Grid Corporation for unified management and operation. State Grid Corporation submitted the plan to the Ministry of Labor and Social Security in accordance with regulations.

In September 2006, the Ministry of Labor and Social Security issued the Notice on Further Strengthening the Management and Supervision of Social Insurance Funds (No.34 [2006] of the Ministry of Labor and Social Security), which clearly stated for the first time that "the enterprise annuity plans established before the promulgation of Decree No.20 and Decree No.23 of the Ministry of Labor and Social Security should be managed and operated by qualified institutions before the end of 2007". It is required to transfer the previously established enterprise annuity to a qualified institution for management and operation.

In August 2007, State Grid Corporation held a meeting to transfer the enterprise annuity to provincial companies for independent management according to the opinions of the Ministry of Labor and Social Security (Ministry of Labor and Social Security 12).

Two. Enterprise annuity fund management

Since July 1993, the branch has established personal accounts for enterprise supplementary pension insurance and personal savings pension insurance. Enterprise payment and individual payment are synchronized, according to the length of service according to the same standard, the company's financial department set up a special account for fund management.

On May 1 2004, the personal account of enterprise annuity was formally established. Great changes have taken place in the source, extraction ratio and distribution mode of enterprise payment funds, and the source of funds has been extracted from the reward and welfare funds of enterprises' own funds and changed into expenses; The proportion of enterprise contributions was changed from the original number of employees' own working years 1 yuan per working years 1 yuan to one twelfth (8.33%) of the total wages of employees in the previous year; The enterprise distribution method is changed from the original working years of employees 1 year/working years 1 yuan to personal accounts based on the working years of employees and the total wages of the previous year. Specific measures: The length of service shall be transferred to the personal account on a monthly basis according to the standard of 4 yuan's annual length of service, and the salary shall be transferred to the personal account according to the balance after the distribution of length of service, with the total salary of my previous year as the base and multiplied by the corresponding proportion.

Since May 2004, the original enterprise supplementary endowment insurance (stock funds) and enterprise annuity (incremental funds) have all been turned over to the provincial company's electric power enterprise annuity management center, and the provincial company has collected them into the special account of the State Grid Social Security Center, which has unified management, centralized standardized operation, value preservation and appreciation, and unified calculation and distribution of their interest income according to the principle of two lines of revenue and expenditure.

According to the Opinions of the Ministry of Labor and Social Security on Doing a Good Job in the Transfer and Continuation of the Original Enterprise Annuity, State Grid Corporation of China issued the Implementation Plan for the Transfer and Continuation of the Enterprise Annuity, which stipulated that from June 1 day, 2007, the State Grid Corporation Annuity Center would stop collecting and operating the annuity funds of the units affiliated to the provinces, and all the funds originally centrally managed would be returned to the companies affiliated to the provinces. Provincial companies will choose local market management institutions to conduct market-oriented management operations according to national policies.

Three. Organization, management and supervision of enterprise annuity

In May 2009, the provincial company issued the Notice on Establishing the Enterprise Pension Council of Shanxi Electric Power Company (J.D. Human Resources [2009] No.801), which marked the formal establishment of the Enterprise Pension Council.

The enterprise annuity fund collected by the enterprise annuity plan is entrusted by the Pension Council of Shanxi Electric Power Company (hereinafter referred to as the "trustee") to be managed by Shanxi Electric Power Company. The trustee entrusts a professional institution with the qualification of enterprise annuity account manager (hereinafter referred to as "account manager") to provide enterprise annuity account management services; Entrust a commercial bank or professional institution with the qualification of trustee of enterprise annuity fund (hereinafter referred to as "trustee") to keep the property of enterprise annuity fund; Entrust a professional institution with the qualification of investment manager of enterprise annuity fund (hereinafter referred to as "investment manager") to be responsible for the investment operation of enterprise annuity fund; Entrust a professional institution with the qualification of enterprise annuity intermediary service (hereinafter referred to as "intermediary institution") to provide enterprise annuity consulting services.

Composition of the board of directors of enterprise annuity: According to the current laws and regulations, directors should come from the internal management of the company and human resources, social security, finance, auditing, law and other departments, and employee representatives should account for 1∕3 of the total number of directors. At the same time, several external experts can be hired as independent directors.

The main responsibilities of the enterprise annuity Council:

1. Formulate the company's enterprise annuity plan;

2. Be responsible for determining the management mode, selecting service organizations (account managers, custodians, investment managers and intermediary service organizations), evaluating the performance of each organization, and putting forward opinions on whether to replace it;

3. Formulate fund investment strategy;

4. Report the management of enterprise annuity to the employees' congress of the company;

5. Review the proposals related to enterprise annuity;

6. Accept and handle the payment of enterprise annuities and benefits;

7. Handle employees' complaints about enterprise annuities.

Fourth, the preparation for the marketization of enterprise annuity.

From 2007 to 2008, I studied and exchanged the management mode of enterprise annuity with my colleagues in other provinces and cities, and discussed two management modes of annuity fund, namely, the enterprise annuity Council mode established by enterprises and the enterprise trustee mode in line with national regulations, which made preparations for the next decision.

From June 5438 to October 2009 10, companies in various provinces studied and analyzed the advantages and disadvantages of different enterprise annuity management models from the aspects of management cost, risk control and management efficiency. After carefully analyzing the advantages and disadvantages of the two entrusted management modes, referring to the practices of other sister companies of State Grid Corporation, and on the basis of widely listening to the opinions of all parties, the entrusted management mode of the enterprise annuity Council was determined by the provincial company annuity management Committee, the joint meeting of the heads of the sixth workers' congress of the provincial company and the general manager's office meeting.

In April, 2009, the provincial company was revised to "Enterprise Annuity Plan of Shanxi Electric Power Company" (Jin Dian Renzi [2009] No.577) on the basis of the original method, and it was proposed that "according to the relevant provisions of Order No.20 of the Ministry of Labor and Social Security, the provincial company should set up a trustee model of the board of directors for management and implement market-oriented operation." At the same time, it submitted the company's annuity plan to the provincial labor and social security department in accordance with the regulations, and completed the filing of the company's annuity plan to the provincial labor and social security department.

In August of 20 10, the provincial company issued the Notice on Preparing for the First Stage of Market-oriented Operation of Enterprise Annuity (J.D.Z. [20 10]No. 1020), requiring to complete the declaration of new employees and the individual payment list of employees before August of 10. Before the end of August, complete the declaration of all transfer, settlement and merger accounts before July 3 1, complete the task of each employee to fill in the Application Form for Participating in the Enterprise Annuity Plan or the Statement of Abandoning Participating in the Enterprise Annuity Plan, and clean up the short accounts with zero account balance; Closing work for the transfer of funds and inventory before September 10 and before July 3 1; Check and modify the names, gender, ID numbers, date of birth, working hours and other information of all insured persons before September 15; Before September 30, all units should complete the reconciliation with the financial account of the provincial company accounting center.