Expand coverage! Two departments issue documents to allow more employees to enjoy enterprise annuities.

On January 15, the Ministry of Human Resources and Social Security and the Ministry of Finance issued opinions on further improving the work of enterprise annuities, enhancing the inclusiveness, flexibility, and convenience of the enterprise annuity system, and continuously promoting the expansion of coverage to allow more employees to enjoy enterprise annuities. According to the opinions, various types of enterprises, social organizations, foundations, private non-enterprise units, and other qualifying employers and their employees can establish enterprise annuities as required. Regarding establishment procedures, if the employer has established a system of employee representative assemblies, the enterprise annuity plan should be submitted to the employee representative assembly for discussion and approval. If the system of employee representative assemblies has not been established, the enterprise annuity plan may be approved through other democratic procedures such as discussion and public disclosure among all employees. In terms of payment ratio, employers and their employees can flexibly choose the payment ratio or amount within the payment limit. If the financial burden is limited, they can start with a lower payment ratio or amount and gradually increase it. In terms of establishment methods, employers can establish a single enterprise annuity plan, or choose to participate in enterprise annuity collective plans initiated by legal trustees. Promote the exploration of using collective plans to implement simplified procedures, providing convenience for small and medium-sized enterprises to establish enterprise annuities. In addition, the opinions propose to select certain qualified parks as pilot areas to expand the coverage of enterprise annuities, accelerate the construction of a national enterprise annuity information platform and database, and take other measures.