Insurance Company Endowment Insurance Management

Original Language Title: 保险公司养老保险业务管理办法

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(On November 2, 2007 China insurance supervision Management Committee makes announced since on January 1, 2008 up purposes) first chapter General first article to specification insurance company pension insurance business, protection pension insurance business activities party of lawful rights and interests of, promote insurance health development, promoted social more level pension guarantees system of perfect, according to People's Republic of China insurance (following referred to insurance), legal, and administrative regulations and national about provides, developed this approach.
    Second, China insurance regulatory Commission (hereinafter "CIRC") encourage insurance companies to develop their expertise through personal old-age pension insurance are the old-age pension, group insurance business, corporate pension management business such as old-age insurance for individuals, families, and other enterprises to provide pension services.
    Circ article in accordance with the pension insurance business supervision and management of insurance companies.
    Fourth insurance companies mentioned in these measures refers to approved by the insurance supervision and Administration Department established and legally registered life insurance companies, the pension insurance company.
    Article fifth old-age insurance in these measures, including personal old-age pension insurance old-age pension, group insurance and pension management business.
    Individual annuity insurance and group annuity insurance business referred to as old-age pension insurance.
    Sixth article this approach by said personal pension annuity insurance, is refers to while meet following conditions of life insurance products: (a) to provides pension guarantees for purpose; (ii) by personal to insurance company pay premium; (three) insurance contract agreed was insurer survival to specific age Shi, can select by insurance company staging payment survival insurance; (four) staging payment survival insurance of, adjacent two times payment of time across for a years or not over a years.
    Individual annuity insurance product range of specific prescribed separately by the China insurance regulatory Commission.
    Seventh article this approach by said groups pension annuity insurance, is refers to while meet following conditions of life insurance products: (a) to provides pension guarantees for purpose, and by insurance company to a copies insurance contract bearing insurance; (ii) by not to purchase insurance for purpose organization up of groups insured, and to insured groups 5 people above of specific members for was insurer; (three) insurance contract agreed was insurer survival to national provides of retired age Shi, can select by insurance company staging payment survival insurance;
    (D) phased payment of life insurance, the interval between two for one year or less than one year.
    Eighth section pension management business in these measures refers to insurance companies according to the relevant regulations of the State of the enterprise annuity fund management, account management, investment management and other related business.
    Nineth insurers carrying on insurance business, these measures shall apply.
    Chapter II business entities article tenth life insurance company, the insurance company approved by the China insurance regulatory Commission, you can carry on insurance business.
    Enterprise annuity management businesses legally authorized by the Manager qualification, shall be subject to the appropriate qualification.
    11th endowment insurance companies operating pension management business, exhibition industry in the country.
    12th the pension insurance company shall have a sound corporate governance structure and internal control systems, establish an effective risk management system.
    13th pension the requirement of independent directors of the company shall, according to the China insurance regulatory Commission, the pension company business for independent and objective oversight activities.
    14th insurance company management, this approach does not require the applicable relevant regulations of the China insurance regulatory Commission on the management of insurance companies.
    Chapter III administration of old-age pension insurance are the first products 15th insurance companies should actively carry out pension insurance product innovation, according to the market development of old-age insurance products for the needs of different groups and individuals.
    Encourages insurance companies to develop lifetime annuity payment individual annuity insurance products.
    16th developing old-age pension insurance clauses and insurance rates of insurance companies, shall, in accordance with the relevant provisions of the China insurance regulatory Commission submitted for approval or for the record.
    17th article in addition to investment-linked, universal old-age pension insurance products, individual annuity insurance product should provide a cash value table in the insurance contract.
    18th group pension insurance of the insured share payment, insurance should be made clear in the contract policyholders and insured the vesting of their contributions, contributions of the insured's interests should be fully vested in himself.
    The 19th group pension insurance contracts shall provide to the insured at the time of separation, right by policyholders in insurance companies sought to extract the insured in whole or in part of the vested interests.
    The 20th set of public accounts of group pension insurance contracts, contributions of the insured's interests shall not be included in the public accounts.
    Insurers could not use public accounts for illicit gain.
    Section II management article 21st senior gold insurance product specifications, proposals and promotional information disclosure should be consistent with the related content in an insurance contract, shall not exaggerate or exaggerated in a disguised form of insurance contract, promises higher than the guaranteed interest rate insurance clauses to mislead policyholders.
    22nd an insurance company selling the insured annuity insurance product with investment options, should the applicant before choosing investments, clearly prompted the investment risk to the applicant in writing, and signed by the applicant confirm.
    Article 23rd insured annuity insurance product with investment options, at the beginning of the insurance contract within the first 5 years of pensionable age, shall not recommend to policyholders of insurance companies high risk portfolio.
    Individual annuity insurance policyholders choose higher-risk portfolios, insurance companies should be made independent of the risky portfolio tips book, clearly prompted the investment risk; policyholders stick should be in the book of high risk portfolio tips sign.
    24th to insure large personal old-age pension insurance of the insured, an insurance company shall on its financial status, such as the ability to pay the necessary financial underwriting.
    25th an insurance company selling individual annuity insurance product should be contained in its various annuity payment, amount insured persons receiving the sample.
    26th article of the same insured groups in different provinces, autonomous regions and municipalities directly under the member insurers can unify the underwriting group pension insurance.
    The applicant is a legal entity, the legal domicile of the insurance company issuing the policy; the applicant is not a legal entity, by the insurance company issuing the policy, where the majority of insured.
    27th an insurance company annuity insurance product sales groups, group annuity insurance, surrender should be carefully reviewed.
    28th an insurance company annuity insurance product sales groups, shall request the applicant to provide the following materials: (a) all list and copy of ID card of the insured, (ii) prove that the insured has agreed to insure groups of old-age pension insurance-related paperwork.
    29th insurance sales group pension insurance contracts shall be issued to each insured insurance certificates.
    Certificate of insurance shall record group pension insurance contracts of insurance and the insured enjoy contract rights.
    Article 30th group annuity insurance policyholders surrender, insurance companies should be required to provide valid proof for purposes of surrender has notified the insured and returned by bank transfer account premiums returned to policyholders. 31st insurance company management group pension insurance, shall expire when payment of the contract, request the applicant to provide valid proof of the insured reaches retirement age stipulated by the State.
    Because of the special early retirement, retirement formalities can recalculate after receiving payment.
    32nd insurance company sales dividends, universal type, investment-linked annuity insurance products should be in accordance with the requirements of the China insurance regulatory Commission to the insured, the insured or the beneficiary to send policy status reports, performance reports and other relevant materials.
    33rd insurance company shall strengthen the endowment insurance sales and management training and management, improve their professional ethics and professional qualities, not instigate, misleading sales of breach of fiduciary duty and management activities.
    Article 34th insurance company annuity insurance business shall comply with the relevant regulations of the China insurance regulatory Commission on the utilization of insurance funds.
    35th insurers carrying on insurance business in accordance with the Central and local government policies to enjoy tax breaks.
    Fourth chapter corporate pension management business the 36th served as trustee of the pension fund insurance company, should be entrusted with the management of the enterprise annuity Fund signed with the trustee a written contract, and shall, in accordance with the written contract, carefully selected according to law the account managers, custodians and investment managers.
    As a corporate account manager, the investment manager of the pension fund insurance company shall be signed with the trustee of the pension fund entrusted with the management of the enterprise annuity Fund account or entrusted with the written agreement of the enterprise annuity investment management fund.
    Client mentioned in this article, refers to the establishment of enterprise annuity of enterprises and their employees.
    37th article insurance company delegate insurance agent institutions agent about Enterprise annuity management business of, should comply with national about provides, and while meet following requirements: (a) and insurance agent institutions signed written of delegate agent agreement; (ii) since above delegate agent agreement signed of day up 5th within, to China Circ of local sent institutions submitted delegate agent agreement copies, and delegate agent service feasibility analysis report and delegate agent service management approach;
    (C) other requirements stipulated by the Circ.
    Article 38th of enterprise annuity investment management of the Fund shall follow the prudent investment principles, and shall not be in violation of State regulations on pension fund investment management of enterprises.
    39th beneficiaries are investment options, the insurance company shall, before investments of their choice, in writing to the investment risks in its clear hints.
    40th beneficiaries are investment options, within the 5 years before reaching the retirement age prescribed by the State, insurers could not recommend high risk to their portfolios.
    Beneficiary choice portfolio of high risk, the insurance company shall make a separate book of the risky portfolio tips, clearly prompted the investment risk; the beneficiaries stick should be in the book of high risk portfolio tips sign.
    41st insurance companies operating pension management business shall, in accordance with relevant regulations of the State, regularly submitted information on pension fund management reports, corporate pension fund investment management account management reports, reports.
    42nd the provisions of an insurance company shall, according to the China insurance regulatory Commission, management of the enterprise annuity fund reporting to the Circ.
    Article 43rd statistical and financial accounting of enterprise annuity management activities shall conform to the national statistical and financial accounting management of laws, administrative regulations and other related regulations.
    44th fifth chapter legal liability insurance company violates these measures require nutrition old insurance business, by the China insurance regulatory Commission and its agencies shall be legally punished.
    45th insurance companies operating pension management business, is not in accordance with the regulations to the CIRC or local agencies reported about events, or local agency ordered corrective action by the CIRC, it fails and give a warning in serious cases, fined 30,000 yuan fine.
    Article 46th insurance company annuity insurance business, is not in accordance with this regulation to the applicant, the insured or the beneficiary to send policy status reports, performance reports and other relevant materials, by China insurance regulatory committee or the local agency ordered corrective action and warning are serious, punishable by penalty of 20,000 yuan.
    47th article violates these measures directly responsible business of pension insurance company directors, senior managers, the China insurance regulatory Commission or local agencies can talk to supervision as the case.
    48th on the violation of the provisions of the Insurance Act of nutrition in elderly Golden insurance business, insurance companies directly responsible does not constitute a criminal act directors, senior managers and other persons, by the local Office of the China insurance regulatory Commission or the local different circumstances in a warning shall be ordered to be removed, a fine of 20,000 yuan and 100,000 yuan fine.
    The sixth chapter supplementary articles the 49th article of the approach by the China insurance regulatory Commission is responsible for the interpretation.
    50th an insurance company carrying on with the function of social security individual lifelifeinsurance business, these measures shall apply to relevant provisions in the individual annuity insurance business.
    Individual lifelifeinsurance products referred to in the preceding paragraph the scope prescribed separately by the China insurance regulatory Commission.
                                                                                                            51st these measures come into force on January 1, 2008.

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