The condition of enterprise annuity is to pay social security in full.

Enterprise annuity refers to a supplementary pension insurance system voluntarily established by enterprises and their employees under the guidance of national policies, on the basis of participating in the social overall planning of enterprise basic pension insurance according to law and paying the basic pension insurance premium in full and on time, according to the economic situation of enterprises. It is an integral part of the multi-level endowment insurance system.

The establishment of enterprise annuity system is the need to improve the national multi-level endowment insurance system, improve the salary and welfare structure, strengthen the incentive and restraint function of salary distribution, protect and improve the living standards of employees after retirement, attract talents, stabilize the backbone, and enhance the cohesion and competitiveness of enterprises.

The basic old-age insurance is enforced by the state through legislation, and enterprises and employees jointly establish enterprise annuities. The basic old-age insurance is to protect the basic needs of employees after retirement, and the enterprise annuity is to improve the living standards of employees after retirement and make up for the shortage of the replacement rate of basic old-age insurance; The payment method, payment standard and payment level of basic old-age insurance are uniformly stipulated by the state, while the payment method, payment standard and payment level of enterprise annuity are independently determined by enterprises and employees according to relevant state regulations; The basic old-age insurance adopts the way of pay-as-you-go plus partial accumulation, and the enterprise annuity adopts the way of complete accumulation of personal accounts; The basic old-age insurance is managed by social security institutions in a unified way, and the enterprise annuity is operated by qualified professional institutions in a market-oriented way; The state finance guarantees the final payment of the basic old-age insurance, and the risks of the operation of the enterprise annuity fund are borne by the enterprises and employees themselves.

The Ministry of Labor and Social Security Decree No.20 "Trial Measures for Enterprise Annuities" stipulates that the enterprise annuity payment standard is: the enterprise payment shall not exceed one twelfth of the total wages of employees in the previous year. The total contributions of enterprises and employees generally do not exceed one-sixth of the total wages of employees in the previous year.

According to the relevant regulations, the enterprise annuity can only be received in one lump sum when employees reach retirement age, and cannot be withdrawn in advance before. If an employee goes abroad to settle down before retirement or dies during his employment, the part belonging to him in his personal account can be paid in one lump sum. If you leave the enterprise due to other circumstances, you can move with it, but you can't pay the fee. If the transfer conditions are temporarily unavailable, the personal account can be temporarily sealed and retained by the original unit.

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