Annuity business to retain talented people to become "golden handcuffs"

+ Entrusted with the corporate annuity business management, basic wage-fixing charge, 2 +2 mode services

The basic situation of enterprises

Certain securities companies, domestic securities companies to set up the first one in 2003 through capital restructuring to become the first market-oriented firms. At present, companies located in 20 provinces and cities nationwide, the number of employees and more than 1,000 people. As a relatively short time to set up, in a fierce competition among the industry's outstanding units of the general staff of the Securities less age, only some of the small number of managers and older employees, the average age of employees 30 years old, faced with the problem of retirement protection Is not urgent. But in a highly competitive industry competition, the flow of talent is more obvious. In the past two years better business performance, enterprise plans to improve employee benefits system as a means to retain business talents to maintain the stability of the corporate staff.

Design

Eligible to participate: the signing of labor contracts with enterprises that have participated in the basic old-age insurance, and the expiration of the trial work at least a year and a formal on-the-job employees, since the implementation of the plan from the right to participate in the enterprise annuity program. Acceptable programs transferred to other employees in the enterprise annuity program of personal accounts of the Fund.

Payment: business and trade unions shared enterprise annuity payment. Business enterprises to pay no more than the previous year's total wage bill 1 / 12, enterprises and trade unions and non-payment of business over the previous year's total wage 1 / 6.

The enterprise annuity payment by employees on an annual base salary to determine the total amount.

The enterprise annuity business from the company to pay the proportion of decision-making based on business conditions to adjust the maximum should not exceed 8.33 percent; corporate annuity business to pay the same amount of employees on the total amount of annual salary multiplied by the percentage of enterprises to pay. Enterprise employees to pay part of the personal distribution, in accordance with individual staff salaries, wages and salaries accounted for enterprises of all proportion to the total.

The individual annuity business to pay some of the individuals identified by the staff, to a maximum annual wage on the personal staff of the total 8.33 percent.

Management and supervision: the establishment of enterprise annuities Management Committee, on behalf of the business and enterprise workers to exercise full pension matters related to decision-making power. CMC composition, duties and rules of procedure, such as from "the Commission corporate pension statute" provision.

Vested in the plan: The ladder-like arrangements for the attribution of rights and interests, dissatisfied with the service life of 2 years, the ratio of ownership to zero; service life of over 2 years less than 3 years, may have a 50% ownership of the right to serve 3 years of age is less than 5 years Year, up 80% of the ownership, the service life of 5 years, the proportion of ownership of 100%.

Service provider model

Trustee: Taiping Pension Insurance Co., Ltd.

Investment managers: Taiping Pension Insurance Co., Ltd.

Account manager: Industrial and Commercial Bank of China Co., Ltd.

Trustee: Industrial and Commercial Bank of China Co., Ltd.

Experts Comment

1. The proportion of payment set a number of factors, "the proportion of wage law" is a user-friendly manner, need to be adjusted where the main goal is based on the rate of substitution of the test results to adjust the business to pay the proportion of the total. At the same time, the use of this method to facilitate the understanding of staff, but also easy access to the majority of employees agree. The use of this method is based on two premises: first, enterprises set up a more reasonable wage has been reflected in the staff's comprehensive ability to contribute to the staff as well as the importance of the enterprise; Second, the need for personnel structure of the younger, there is no more urgent need to increase the retirement After close to the income of retirees.

2. Is a young man from the old-age needs to consider the matter, the lower the average age of employees, does not mean that can not consider the establishment of enterprise annuities, but rather because of old-age needs little pressure, to the business sufficient time to the establishment and operation of pension Plans, so employees can benefit more, in the interests of the distribution of the contradictions and conflicts are less and easier to operate. At the same time, for such enterprises, enterprise annuities long-term incentives to reflect more fully.

Implementation of the

The plan by the end of 2006 in the official operation of the investment, to 2008, the yield has reached 60%, very substantial benefits. Annuity business increased employee retirement income, increased the cost of staff quit, leaving only become the "Golden handcuffs"; at the same time, it attracted the best people to join the enterprise, the enterprise has become an important magic weapon cast in the Fierce competition in the market, with more advantages.