Five four ministries issued a document with hundreds of billions of annuity may enter the market

 Time: February 23, 2011 17:04:10 in the financial network core tips latest , adjust the proportion of stock investment, stock investment ratio will be no higher than 30% of the portfolio. the capital market is expected to usher in hundreds of billions of funds, of which about one hundred billion yuan will be directly into the stock market. Human Resources and Social Security last year Dec. 23 to Pension Fund Management (Human Resources and Social Security Department Order No. 11) (Full Text) up to 30% equity investment of billions of billions of pension annuity market can be put directly into the A shares of flowing water gate is difficult, said fund managers can not be a loss last year, the market value of pension holdings held half the stock surge 30 times (with shares) issued by four ministries of enterprise annuity fund management approach with the implementation of five 30% equity cap protection of human and social resources the Ministry of CBRC, CSRC and the China Insurance Regulatory Commission on Wednesday issued the revised corporate pension fund management the proportion of the Fund shall not be less than the pension fund portfolio companies 5% of net assets; investment in fixed income products as well as convertible bonds, bond funds, investment-linked insurance shall not exceed 95%; investing in stocks and other equity products and equity funds , hybrid funds, investment-linked insurance products may not be higher than 30%. (Securities Times Online) Enterprise Annuity Fund Management (Human Resources and Social Security Department Order No. 11) (full text) revised January 11, 2011 the Department of Human Resources and Social Security Ministry of Finance will be the 58th considered by the China Banking Regulatory Commission, China Securities Regulatory Commission, China Insurance Regulatory Committee. It is hereby announced that since 2011 5 into effect January 1. Labour and Social Security, the China Banking Regulatory Commission, China Securities Regulatory Commission, China Insurance Regulatory Commission on February 23, 2004 release of Social Security Decree No. 23) is abolished. Human Resources and Social Security Yin Weimin, Minister of the China Banking Regulatory Commission Chairman Liu of the China Securities Regulatory Commission Chairman Shang Fulin, Chairman of China Insurance Regulatory Commission Wu Dingfu February 2011 the 12th Chapter I General Provisions enterprise annuity fund management approach to safeguard enterprise annuity the first legal rights of the parties, standardized enterprise annuity fund management, according to labor law, trust law, contract law, securities investment fund law and other laws and relevant regulations of the State Council development of this approach. The second enterprise annuity funds under management, account management, custody, investment management and supervision and management of the application of this approach. The term enterprise annuity fund, means the law established corporate pension plans and funds raised the formation of investment companies operating earnings supplementary pension insurance fund. Third enterprise annuity plan established enterprises and their employees as a client, and corporate pension council or corporate trustee (hereinafter referred to as the trustee) signed under management contracts. trustee and corporate Pension funds account management organizations (hereinafter referred to as account manager), enterprise annuity fund custodian institutions (hereinafter referred to as trustee) and the enterprise annuity fund investment management organizations (hereinafter referred to as the Investment Manager) management contracts were signed. The fourth agent shall be entrusted with the management contracts and management contracts with reported human resources and social security administrative departments for the record. Article annuity plan of an enterprise should be only a trustee, an account manager and a trustee, you can select the amount of the asset size of the investment manager. Article VI of the same enterprise annuity plan, the trustee and the trustee, custodian and investment manager may not be the same person; establishment of enterprise annuity plan annuity Council Established as a trustee, custodian of the business and may not be the same person ; trustee and custodian, custodian and investment manager, investment managers and other investment managers, general manager and corporate pension practitioners, not each individual. the same corporate pension plans, have a corporate trustee or investment management account management business qualification, and can serve as account manager or investment manager. VII of the corporate trustee shall serve as investment managers, shall establish a risk control system to ensure independence between the various business management; establishment of an independent fiduciary business and investment business department, office space, operations management processes and business system should be strictly separated; direct responsibility of senior management, fiduciary services and investment business unit staff members shall not concurrently with each other. the same corporate pension plans, corporate trustee of the investment manager should be treated implementation of uniform standards and procedures, reflecting the open, fair and just principles. Article VIII of enterprise annuity fund contributions to the guardian of the property must be 归集 escrow account within 45 days included in the escrow account invested assets. enterprise annuity fund property independent of the client , trustee, account manager, custodian, investment management and other enterprise annuity fund management services to natural persons, legal persons or other organizations, and management of the inherent property of the other property. enterprise annuity fund property management, use or other property and proceeds acquired cases should be included into the fund assets. Article IX trustor, trustee, account manager, custodian, investment management and other enterprise annuity fund management services to natural persons, legal persons or other organizations, because according to the law dissolution is revoked or declared bankrupt according to law and other reasons for termination and liquidation of the enterprise annuity fund liquidation of assets outside its property. Article enterprise annuity fund property claims, not with the trustor, trustee, account manager, custodian , investment management and other enterprise annuity fund management services to natural persons, legal persons or other organizations inherent property of the debt offset each other. different enterprises of the enterprise annuity fund, pension plan credit and debt, not offset each other. Article XI not because Enterprise annuity fund property assumed debt, the property shall not be enforceable against the Fund. XII The trustee, account manager, custodian, investment management and other enterprise annuity fund management services, legal entities or other organizations must fulfill their duties perform honest, trustworthy and cautious, and diligence. Article XIII of Human Resources and Social Security is responsible for corporate pension fund management policy. human resources and social security administrative departments supervise the enterprise annuity fund management. The second section of Chapter Trustee fourteen The term trustee is entrusted with the management of enterprise annuity fund that conforms to the corporate trustee pension management companies (hereinafter referred to as the corporate trustee) or annuity Council. XV enterprise annuity plan shall be established enterprises, should be through the employee or employee representative assembly to discuss the General Assembly to determine and select corporate trustee as trustee, or the establishment of enterprise annuities Council as the trustee. XVI The enterprise annuity Council is composed of business representatives and representatives of staff and workers, can also professionals employed outside the enterprise to participate, of which not less than one third of the staff representatives. The Council shall be equipped with a certain number of full-time staff. Article XVII of the employee annuity on behalf of the Council and outside the enterprise professionals from the TUC , employee representatives or other forms of democratic elections. business representatives appointed by the enterprise side. members for a term annuity Council by the Articles of Association, each term shall not exceed three years. the governing term, reelection. XVIII The enterprise Annuity Board of Governors shall meet the following conditions: (a) have full civil capacity; (b) honest and trustworthy, no criminal record; (c) has engaged in legal, financial, accounting, social security or other member of the Council to perform duties of annuity the necessary expertise; (d) a decision-making capacity; (e) No persons who have a large amount of debt due and outstanding cases. XIX independently according to an enterprise annuity management of the Council's corporate annuity fund services business, not intervention by the business side, shall not engage in any form of commercial activity, not from the extraction of enterprise annuity fund property management fees. annuity enterprise shall be meetings of the Council shall be attended by the director himself; members unable to attend, may in writing delegate Other members took the present, power of attorney shall specify the scope of authorization. Council passed a resolution to be adopted by more than two thirds of all members. The Council shall decide on matters discussed at the meeting the formation meeting, the directors should attend the meeting signed minutes of the meeting. Article shall be a member of the enterprise annuity Council resolutions responsibility. Council resolutions against the law, administrative regulations, these Regulations or Statutes of the Council, resulting in property losses of enterprise annuity fund, the director shall liable for compensation. But after the vote had proved that objection and recorded in the minutes of the meeting, the Council members may be exempted from liability. annuity contract outside the Council, shall be signed by all members. twenty-two corporate trustee shall have the following conditions: (a) the approval by the national financial regulators, in an independent legal entity registered in China; (b) the registered capital of not less than 5 million yuan, and at all times maintain not less than 5 billion yuan in net assets; (c) has a sound corporate governance structure; (d) the qualifications to obtain the enterprise annuity fund to reach the required number of full-time staff; (e) has to meet the requirements of the business premises, security facilities, and entrusted with the management of enterprise annuity fund other relevant business facilities; (f) with sound internal auditing and monitoring system and risk control system; (vii) in the last 3 years, no major law violations; (h) other conditions stipulated by the State. twenty-three trustees shall perform the following duties: ( a) the selection, supervision, replacement account manager, custodian, investment manager; (b) the development of enterprise annuity fund strategic asset allocation strategy; (c) According to the contract management of the enterprise annuity fund supervision; (d) companies under contract to receive and employee contributions, annuity benefits paid to the beneficiary, and the performance of the contract the specific way; (e) to accept client queries submitted regularly to the principal corporate pension fund management and financial accounting reports. a major event, timely report of the principal and the relevant regulatory authorities; regularly submitted to the relevant regulatory authorities entrusted to carry out corporate pension fund management business report; (vi) save in accordance with state regulations concerning the management of enterprise annuity fund records from the date of termination at least 15 years; (vii) contract the state and other duties. twenty-four The term beneficiary is entitled to participate in corporate pension plans and beneficiary of the enterprise employees. Twenty-five of the following circumstances, corporate trustee duties shall be terminated: (a) breach of contract with the client; (b) the use of the property for its corporate annuity fund to benefit, or seek improper benefits for others; (c) dissolved, is revoked, be declared bankrupt or been taken over by law; (d) The Trustee shall cancel the corporate pension fund management business qualifications; (e) there is evidence that the replacement of the principal interests of the beneficiary comply with the trustee; (f) the relevant regulatory authorities have sufficient reason to and evidence that the replacement of trustees meet the interests of the beneficiary; (vii) contract the state and other circumstances. Enterprise Annuity Board of the preceding paragraph (b) provides the circumstances, the enterprise annuity council duties terminated by the client Select corporate trustee as trustee. annuity Council has (a), (c) to (vii) the circumstances specified, it shall be reconstituted in accordance with state regulations, or corporate trustee selected by the principal act as trustee . twenty-six trustees termination of the duties, the principal shall appoint a new trustee within 45 days. fiduciary duties are terminated, shall keep the information entrusted to manage corporate annuity fund, within 45 days for completion of the transfer of fiduciary management business procedures New trustees should receive and exercise the corresponding responsibilities. twenty-seventh chapter account manager account manager referred to in these Measures refers to the commission to accept the trustee enterprise annuity fund account management professional organization. The second eighteen account managers should meet the following conditions: (a) the approval by the State authorities, in an independent legal entity registered in China; (b) the registered capital of not less than 5 million yuan, and at all times maintain not less than 5 billion yuan in net assets ; (c) has a sound corporate governance structure; (d) the qualifications to obtain the enterprise annuity fund to reach the required number of full-time staff; (e) with the corresponding enterprise annuity fund account information management system; (f) has to meet the requirements of the business premises , security facilities and account management and corporate pension funds and other business-related facilities; (g) with sound internal auditing and monitoring system and risk control system; (h) in the last 3 years, no major law violations; (i) national regulations other conditions. The second nineteen account manager shall perform the following duties: (a) the establishment of enterprise annuity fund business accounts and personal accounts; (b) the record companies, employees and corporate pension fund payments investment income; (c) on a regular basis and managed one checks the payment data and enterprise annuity fund account property changes and promptly submit the results to check the trustee; (d) calculating annuity benefits; (e) provide to the enterprise and the beneficiary enterprise annuity fund business account and personal account information inquiry service ; annual equity report to the beneficiaries; (f) submit regularly to the trustee account management data, information, and corporate pension fund account management reports; regularly submitted to the relevant regulatory authorities to carry out enterprise annuity fund account management business report; (g) save in accordance with state regulations of enterprise annuity fund account management file from the date of termination at least 15 years; (h) national regulations and other duties as stipulated in the contract. The third ten, one of the following circumstances, account manager duties shall be terminated: (a ) breach of contract with the trustee; (b) the use of the property for its corporate annuity fund to benefit, or seek improper benefits for others; (c) dissolved, is revoked, is declared bankrupt or is taken over according to law ; (d) The enterprise annuity fund shall cancel the qualification of account management services; (e) there is evidence that the replacement of the trustee account manager meet the interests of the beneficiary; (f) the relevant regulatory authorities have sufficient reason and evidence that the replacement account manager meet the interests of the beneficiary; (vii) contract the state and other circumstances. 第三十一条 account manager termination of the duties, the trustee shall determine within 45 days of new account manager. Account Manager termination of the duties, should be safekeeping of enterprise annuity fund account management information, within 45 days for completion of the transfer of account management business procedures, new account manager shall receive and exercise the corresponding responsibilities. Chapter thirty-custodian trustee referred to in these Measures refers to the accepted custody of enterprise annuity fund trustees of property entrusted to the commercial banks. thirty-third custodian should meet the following conditions: (a) the approval by the national financial regulators, in an independent legal entity registered in China; (b) the registered capital of not less than 50 billion yuan, and at all times maintain not less than 50 billion yuan in net assets; (c) has a sound corporate governance structure; (d) a specialized asset custody department; (v) to obtain the enterprise annuity fund practitioners qualified to achieve the required number of full-time staff; (f) has custody of the conditions of enterprise annuity fund property; (vii) a safe and efficient clearing and settlement system; (h) has to meet the requirements of the business premises, security facilities, and with the enterprise annuity fund trust business to other facilities; (IX) with sound internal auditing and monitoring system and risk control system; (x) in the last 3 years, no major law violations; (xi) other conditions stipulated by the State. Thirty-fourth custodian shall perform the following duties: (a) the safe custody of the corporate pension fund assets; (b) under the name of the enterprise annuity fund of property fund of funds accounts and securities accounts, etc.; (c) of the pension funds managed assets of different enterprises were set up accounts to ensure the integrity and independence of fund assets; (d) order the trustee to allocate the enterprise annuity fund investment managers in the property; (e) in time for the clearing and settlement; (f) is responsible for corporate pension fund accounting and valuation, review , calculation of investment managers to review and confirm the value of fund assets; (g) order the trustee to the beneficiaries of the treatment enterprise annuity payment; (h) on a regular basis and account manager, investment managers may wish to check the data; (i) in accordance with the provisions of supervision of investment managers in the investment operations and regularly reports to the trustee investment oversight; (j) submit regularly to the trustees managed the enterprise annuity fund and financial accounting reports; regularly submitted to the relevant regulatory authorities to carry out corporate pension fund custody business reports ; (xi) save in accordance with the state enterprise annuity fund trust business records, account books, statements and other relevant information from the date of termination at least 15 years; (xii) the state and other duties as stipulated in the contract. thirtieth Five trustee investment manager based on transactions that have not yet set up an investment program instruction violates laws, administrative regulations, or other relevant provisions of the contract, shall refuse to execute, immediately notify the investment manager, and in a timely manner to the Trustee and the relevant regulatory department. trustee investment manager that has been established according to the transaction an investment program instruction violates laws, administrative regulations and other relevant provisions or the contract, it shall immediately notify the investment manager, and timely report of the trustees and the relevant regulatory authorities. The third sixteen one of the following circumstances, the custodian duties shall be terminated: (a) breach of contract with the trustee; (b) the use of the property for its corporate annuity fund to benefit, or seek improper benefits for others; (c) shall be dissolved , is revoked, is declared bankrupt or been taken over by law; (d) The enterprise annuity fund shall cancel the qualification of custody business; (e) there is evidence that the replacement of the trustee trustees meet the interests of the beneficiaries; (f) the regulatory authorities have sufficient grounds and evidence that the replacement of trustees meet the interests of the beneficiary; (vii) contract the state and other circumstances. thirty-seventh custodian termination of the duties, the trustee shall determine within 45 days of new trustee . custodian termination of the duties, shall keep the information on corporate pension fund trustees, within 45 business days for completion of the transfer of custody procedures, the new trustee shall receive and exercise the corresponding responsibilities. thirty-eighth prohibits the custodian of the following acts: (a) The enterprise annuity funds managed their own property Mixed property management; (b) the custodian of the enterprise annuity fund property and other property managed mixed management; (c) the different occupational pension scheme managed, different annuity investment portfolio mix of enterprise annuity fund property management; (d) to embezzle or divert the enterprise annuity fund assets managed; (v) national regulations and other acts prohibited by the contract. Chapter thirty-ninth investment manager investment manager referred to in these Measures refers to the trustee to accept who commissioned the property of the enterprise annuity fund investment management professional organization. The fourth ten investment managers shall meet the following conditions: (a) the approval by the national financial regulatory authorities, registered in China, has entrusted investment management, fund management or asset management qualifications independent legal person; (b) securities asset management business with a registered capital of not less than 10 securities billion yuan, and at all times maintain not less than 10 billion yuan in net assets; pension management company with registered capital of not less than 500 million yuan, and at all times maintain not less than 5 billion yuan in net assets; trust registered capital of not less than 3 billion yuan, and at all times maintain not less than 3 billion yuan in net assets ; fund management companies, insurance asset management companies, securities asset management companies or other institutional investors with registered capital of not less than 100 million yuan, and at all times maintain not less than 1 billion yuan in net assets; (c) has sound corporate governance structure; (d) the qualifications to obtain the enterprise annuity fund to reach the required number of full-time staff; (e) has to meet the requirements of the business premises, security facilities, and investment management and corporate pension funds and other business-related facilities; (f ) with sound internal auditing and monitoring system and risk control system; (vii) in the last 3 years, no major law violations; (h) other conditions stipulated by the State. 第四十一条 investment manager shall perform the following duties: (i) Enterprise annuity fund to invest in property; (b) timely reconciliation with the custodian of enterprise annuity fund accounting and valuation results; (c) the establishment of enterprise annuity fund investment management risk reserve; (d) submit regularly to the corporate pension fund trustee investment management reports; regularly submitted to the relevant regulatory authorities to carry out corporate pension fund investment management business report; (e) According to the state pension fund property preservation business accounting vouchers, accounting books, annual financial statements and investment records since the date of termination of the contract at least 15 years; (vi) state regulations and other duties as stipulated in the contract. forty-one of the following circumstances, the investment manager shall report to the trustee: (a) the enterprise annuity fund NAV wide fluctuations; (b) of the enterprise annuity fund assets may be materially affected by the relevant matters; (c) National regulations and contract the other cases. forty-one of the following circumstances, the investment manager duties shall be terminated: (a) violation trustee of the contract; (b) the use of the property for its corporate annuity fund to benefit, or seek improper benefits for others; (c) dissolved, is revoked, is declared bankrupt or been taken over by law; (d ) be canceled according to the law of enterprise annuity fund investment management business qualifications; (e) there is evidence that the replacement of the trustee investment managers meet the interests of the beneficiary; (f) the relevant regulatory authorities have sufficient reason and evidence that the replacement of investment managers meet the beneficiaries interest; (vii) contract the state and other circumstances. The fourth fourteen investment manager termination of the duties, the trustee shall within 45 days to identify new investment manager. investment manager termination of the duties, shall keep the Company Pension fund investment management information, within 45 days for completion of the transfer of the investment management business procedures, new investment manager shall receive and exercise the corresponding responsibilities. forty-fifth investment manager of the following prohibited acts: (a) to own property or property of others confused with the enterprise annuity fund property; (b) unfair treatment of enterprise annuity fund and its management of property and other property; (c) unfair treatment of their pension funds managed assets of different enterprises; (d) to embezzle or divert the enterprise annuity fund property; ( e) commitment, commitment to capital preservation in disguise or guaranteed return; (f) the use of other assets under management for the enterprise annuity plan client, beneficiary or the relevant administrator to seek illegitimate interests; (vii) national regulations and other acts prohibited by the contract Chapter VI. forty-sixth investment fund annuity fund an enterprise should follow prudent investment management, risk diversification principle, give full consideration to the security of enterprise annuity fund assets, profitability and liquidity, the implementation of professional management. The fourth seventeen companies Pension fund property limited to domestic investment, the investment includes bank deposits, treasury bonds, central bank bills, bonds repurchase, universal insurance products, investment-linked insurance products, securities investment funds, stocks, and investment grade credit rating in more than financial bonds, corporate (company) debt, convertible bonds (including convertible bonds separate transactions), short-term financing bonds and medium-term notes and other financial products. Fourth eighteen each portfolio's enterprise annuity fund shall be an investment manager of property management and corporate pension funds property to the portfolio at fair value as the unit shall meet the following requirements: (a) investment bank demand deposits, central bank bills, bonds, and repurchase and other mobility products the proportion of money market funds shall not be less than the pension fund property portfolio companies 5% of the net; clearing excess reserves, securities settlement accounts and a purchase money market securities as liquid assets; investment bonds are repurchased shall not exceed the proportion of pension fund portfolio companies 40% of net assets. (b) investment bank deposits, negotiated deposits, treasury bonds, financial bonds, corporate (company) debt, short-term financing bonds, medium term notes, universal insurance products and fixed income products such as convertible bonds (including convertible bonds separate transactions), bond funds, investment-linked insurance products (the proportion of stock investment is not higher than 30%), the ratio shall not be higher than the pension fund portfolio companies 95% of net assets. (c) investing in stocks and other equity products and equity funds, hybrid funds, investment-linked insurance products (equity investment is higher than or equal to 30%), the ratio shall not be higher than the pension fund portfolio companies 30% of net assets. which, the enterprise annuity fund may not directly invest in warrants, but investing in stocks, convertible bonds separate transactions and other investment products and derivatives to obtain the warrants, the warrants shall be listed and traded within 10 days from the date of sale. The fourth nineteen changes in the financial markets and investment under the operation of the Department of Human Resources and Social Security, together with China Banking Regulatory Commission, China Securities Regulatory Commission and China Insurance Regulatory Commission, the scope and scale of investment in due course be adjusted. fifth ten individual enterprise annuity fund portfolio assets invested in shares issued by a company, a single issue of the same variety of short-term financing bonds, medium-term notes, financial bonds enterprise (company) debt, convertible bonds (including convertible bonds separate transactions), individual securities investment funds, individual universal life insurance products or investment-linked insurance products, respectively, the enterprise shall not exceed the amount of the issuance of securities, the fund shares or the insurance products to 5% of assets under management; in accordance with the fair value, shall not exceed the investment portfolio of enterprise annuity fund 10% of net assets. a single portfolio of enterprise annuity fund assets invested in by the record in line with the provisions of the forty-eighth An investment ratio The single pension products, shall not exceed the investment portfolio of enterprise annuity fund 30% of net assets not subject to the limits above 10%. 第五十一条 investment manager of the corporate pension fund assets invested in their management of financial products subject to consent of the Trustee. Fifth twelve due to stock market volatility, mergers of listed companies, fund managers and other investment-scale changes caused by factors outside the enterprise annuity fund investment is not conform to the forty-eighth Article, or the proportion set out in Article V proportion of the investment contract, the investment manager shall be listed and traded within 10 days from the date of adjustment is completed. The first fifty-three enterprise annuity fund to cash and securities transactions under the State Council, other means may be used for loans to others and to provide security. Investment Manager shall not engage in the enterprise annuity fund property investment with unlimited liability. Chapter VII income distribution and Costs for fifty-four account manager should be measured by way of share account management, according to the enterprise annuity fund NAV, weekly or daily enterprise annuity funds in full and credited to corporate accounts and individual accounts. The trustee fifth annual management fee of no more than extracted entrusted with the management of enterprise annuity fund 0.2% of net assets. Fifth sixteen Account Manager The management fee does not exceed 5 per household per month in accordance with the RMB limit, by the establishment of the enterprise annuity plan be paid. keep accounts and account management accounts for retirees can be specified in the contract fee borne by the beneficiary from the beneficiary individuals Account. Fifty-seventh custodian annual management fee of no more than extraction of enterprise annuity fund managed 0.2% of net assets. Fifth annual extraction of eighteen investment manager a management fee no higher than the investment management of enterprise annuity fund net worth 1.2%. Fifth nineteen under the management of enterprise annuity fund, the Department of Human Resources and Social Security, together with China Banking Regulatory Commission, China Securities Regulatory Commission and China Insurance Regulatory Commission, timely adjustment of the management fee. VI ten investment managers charge from the current management fees, the extraction of 20% as a corporate pension fund investment management risk reserve to cover special time of termination of the management of the enterprise annuity fund portfolio investment assets entrusted to the current period's investment losses. 第六十一条 When the contract is terminated, portfolio management as the enterprise annuity fund net worth less than the current authorization of an investment asset, investment manager risk reserve should be used to cover the point of the current loss of trust investment assets until the investment portfolio risk reserve to make up complete; such as the management of the enterprise annuity fund portfolio investment assets entrusted to the current period does not occur or the risk of investment loss reserve to make up for the remaining after risk provisions classified all investment managers. sixty investment management an enterprise annuity fund shall be deposited in the risk reserve Investment Manager at the opening of the custodian of the special deposit account balance reaches the portfolio management investment managers 10% of net fund assets can no longer be extracted. the trustee may not risk reserve account investment management fees. VI thirteen risk reserve managed by the investment manager may invest in bank deposits, bonds high liquidity, low-risk financial products. risks arising from investment income reserve, the reserve should be incorporated into risk management. Chapter VIII of the program management and disclosure of information one sixty-fourth an enterprise annuity plan by the trustee to deliver a single client's enterprise annuity fund alone entrusted with the management of enterprise annuity program. corporate pension plans refer to the same set of multiple principal trustee of the enterprise annuity fund delivered which will focus entrusted with the management of the enterprise annuity program. sixty-fifth of legal persons set up a collection scheme trustees should be entrusted with the management contract to develop a collection plan for each set of plans to determine account manager, custodian of the one, the investment manager at least three name; and management contracts were signed with. collection scheme trustees to develop a collection plan should be entrusted with the management contracts, management contracts signed and the project portfolio of the manual collection of reports filed with the Ministry of Human Resources and Social Security.   a sixteen enterprise annuity plan to build a client can only be a single enterprise annuity plan or participate in a ...