Can retired enterprise annuities be collected in one lump sum?

Retired enterprise annuities can be collected in one lump sum.

the enterprise annuity can be withdrawn at one time under certain conditions. When employees reach the retirement age stipulated by the state, they can choose to receive it in one lump sum or by stages; If employees emigrate abroad, they can also receive it in one lump sum; If an employee or retiree dies, the balance of his personal account of enterprise annuity can be collected by the designated beneficiary or legal heir in one lump sum; In addition, when employees lose their ability to work due to illness or disability, they can also receive the funds in their personal accounts at one time when they retire from illness or early retirement.

Plan type of enterprise annuity:

1. Determine the welfare plan: the enterprise promises to give employees certain retirement benefits according to factors such as their salary level and working years;

2. Determine the contribution plan: the enterprise pays a certain amount of annuity for employees every year, and employees can receive pension according to the accumulated amount in their accounts after retirement;

3. Mixed plan: combining the characteristics of defined welfare plan and defined contribution plan, provide an intermediate plan;

4. Personal account plan: employees decide to use part of their salary for annuity investment, and enterprises may make matching contributions;

5. Cash balance plan: It is similar to a defined contribution plan, but retirement benefits are reflected in the form of account balance, rather than pension paid regularly.

to sum up, the enterprise annuity can choose to receive the funds in the personal account in one lump sum when it meets certain conditions, including reaching retirement age, emigrating, dying or losing the ability to work.

Legal basis:

Article 24 of the Measures for Enterprise Annuities

An employee can receive an enterprise annuity if he meets one of the following conditions:

(1) When he reaches the retirement age stipulated by the state or completely loses the ability to work, he can receive an enterprise annuity from his personal account on a monthly basis, in installments or in one lump sum, or he can purchase commercial endowment insurance products with all or part of the funds in his personal account.

(2) The funds in the personal account of the enterprise annuity of the person who has settled abroad (territory) can be paid to me in one lump sum according to my requirements;

(3) After the death of an employee or retiree, the personal account balance of the enterprise annuity can be inherited.