IT ' S SMART

Pension insurance guidelines and voluntary retirement funds.

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The National Insurance Business Base. 24 /2000/QH10 December 9, 2000;

The amended Law Base, which adds some of the provisions of the Digital Insurance Business Law 61 /2010/QH12 November 24, 2010;

Base of Protocol 45 /2007/NĐ-CP March 27, 2007 of the Government Regulation details of certain provisions of the Insurance Business Law;

Base of Protocol 118 /2008/NĐ-CP November 27, 2008 of the Government Regulation, mandate, authority, and organizational structure of the Ministry of Finance;

On the recommendation of the Director of the Bureau of Management, monitoring of insurance;

Minister of Finance to enact pension insurance guidelines and voluntary pension funds, the report said.

Chapter I

GENERAL REGULATION

What? 1. The tuning range and subject apply

1. This information instructs the deployment of pension insurance and voluntary pension funds under the regulation at 1 Article 1 The amended Law, which adds some of the provisions of the Insurance Business Law of 2010.

2. This information applies to insurance businesses that deploy retirement insurance (later called insurance businesses) and organizations, individuals involved in the territory of the Socialist Republic of Vietnam.

What? 2. Penal Insurance

1. The retirement insurance is a life insurance product performed by the insurance business aimed at providing additional income to the insured at the end of the labor age.

2. Penal insurance includes retirement insurance for each individual and retirement insurance for the working group. The case of retirement insurance for the group of workers (later known as group retirement insurance), the insurance party is the employer employer, the worker will be given the full rights of the insurance contract after a certain deadline by agreement between the parties. And it ' s been recorded at the insurance contract.

3. On the basis of an insurance buyout basis, the insured is beginning to receive retirement benefits when reaching the age of agreement at the insurance contract, but not under 55 (fifty-five) age for women and 60 (sixty) years of age for men.

4. Basic insurance benefits include recurring retirement rights and risk insurance rights.

5. Each person is insured under a personal retirement insurance contract or a group retirement insurance contract that has a separate retirement insurance account in accordance with this Privacy.

What? 3. Your voluntary retirement fund

1. The voluntary retirement fund is formed from premiums and is a collection of insured insurance accounts of the insured.

2. When deploying retirement insurance, the insurance business must establish a voluntary retirement fund, track, separation and private accounting of revenues, costs, assets, and capital funds of the pension fund voluntarily with other co-equity funds and the equity fund.

What? 4. Conditions for the insurance business deployment of retirement insurance products

When deploying a retirement insurance product, the insurance business must meet the following conditions:

1. The equity equity is no less than 1,000 (a thousand) billion;

2. The margin of payment is higher than the minimum payment capacity of 300 (three hundred) billion;

3. Set up voluntary pension fund by regulation at Section 2 Chapter II This message;

4. System of information technology tracking and management of each transaction of the retirement insurance account;

5. Minimum of 05 (year) direct cadre management of voluntary pension fund that has at least 05 (year) years of pension fund management experience or a hedge fund equity fund;

6. The retirement insurance product dealer meets regulatory conditions at this Article 25;

7. The retirement insurance product is approved by the Ministry of Finance.

Chapter II

SPECIFIC REGULATION

Item 1

RETIREMENT INSURANCE PRODUCT REGULATION

What? 5. The basic insurance rights of the retirement insurance product.

1. The insurance business is actively designed to produce a retirement insurance product but must include recurring retirement rights and regulatory risk rights in paragraph 2 and paragraph 3 This.

2. For recurring pension rights, the insurance business must be reassuring:

a) The pension rights are paid periodically to when the insured is killed or a minimum of 15 (fifteen) years, depending on the agreement at the insurance contract;

b) The insurance business and the buyer insurance agreement on the level of pension rights per term, the number of pension benefits;

c) The cumulative interest from the pension rights section has not yet paid for the insurance buyer, but no less than the investment interest pledged to minimum the deal at the insurance contract.

3. For risk of risk insurance, the insurance business must provide in the term of premiums and may continue to provide this rights in the time of retirement benefits, depending on the agreement at the insurance contract. The risk of risk insurance covers the following minimum of rights:

a)

When receiving a request for payment of death insurance, regardless of the insurance coverage, the insurance business must pay the burial allowance for the beneficiary of the amount under the insurance contract.

b) The right to life insurance or full life disability:

-When people are insured for death or full-life disability within the insurance coverage and in the prescribed term, the insurance business pays for the beneficiary of the insurance amount according to the agreement at the insurance contract;

-The insurance party is selected for the amount of insurance when the contract is secured and is adjusted for the amount of insurance in the time the insurance contract is valid under the insurance contract.

What? 6. Additional insurance benefits

1. In addition to the basic insurance rights, depending on the agreement at the insurance contract, the insurance business may provide additional additional benefits of additional insurance:

a) the right to regulate the level of periodic pension rights;

b) unemployment insurance unemployment;

c) Health care rights;

d) in support of the house;

The power of insurance to the dependable;

e) Poor health insurance benefits;

g) Other additional benefits by agreement at the insurance contract.

2. The method of closing the premiums of the additional insurance benefits will be due to the parties agreement when the contract is covered by the insurance contract. The insurance business is not allowed to deduct the premiums of the additional insurance benefits from the retirement insurance account value.

What? 7. Insurance fee

1. The premium is a contribution to the periodic voluntary retirement fund or once per agreement at the retirement insurance contract.

2. The added premium is the portion of the contribution beyond the recurring insurance portion or once agreed upon in the insurance contract, to invest in the voluntary retirement fund.

What? 8. Charge

1. The insurance business is deducted from the following types of fees:

a) The deduction for the deduction from the premiums obtained, before the allocation into the retirement insurance account:

The original fee is a fee used to cover the cost of issuing insurance contracts, insurance appraisals, medical examination costs, and other cost-and-cost commissions.

b) The kind of deduction from the retirement insurance account:

-Risk premiums are a fee for the risk of risk insurance under a commitment to the insurance contract.

The insurance business is actively selecting the death rate tables and the overall disability rates tables for charging risk premiums. In any case, the death rate applied is not higher than the regulation at the CSO 1980 mortality rate and the permanent total disability rate no higher than 10% of the CSO 1980 mortality rate specified at Annex I issued with this Information;

-The insurance contract management fee is a fee to offset the costs associated with the maintenance of the insurance contract and provide information regarding the insurance contract for the insurance buyer;

-The fund management fee is used to pay for voluntary retirement fund management operations and maximize no more than 2% of the fund ' s investment property value in the year;

-A retirement insurance account transfer fee is a premium on the insurance business that must pay for the insurance business that is currently managing a retirement insurance account when carrying out a retirement insurance account transfer to the new insurance business.

The maximum retirement insurance account transfer fee is no more than 5% of the transfer account value to the first year insurance contract, 2nd year (two) no more than 4%, year 03 (three) no more than 3%, year 04 (private) no more than 2% and from Year 05 (year) onwards. One percent.

-Other charges (if any) must be approved by the Ministry of Finance.

2. The insurance business must calculate the correct, fair, and reasonable charge of the charges above, in accordance with the product that has been approved by the Ministry of Finance and informed by the insurance party when the exchange of retirement insurance contracts.

3. The retirement insurance contract must specify the maximum charges applicable to the insurance buyer. The insurance business must publicly be clear, full of fees, how to define and proportional the applicable fees to the insurance party in the document-presenting materials and sales illustrator documentation.

What? 9. Approve of the deployment of retirement insurance products

1. The insurance business must be approved by the Ministry of Finance prior to the deployment of retirement insurance products.

2. The filing permits the deployment of retirement insurance products including:

a) The text offer approval of the sample retirement insurance product according to the Appendix II issued by this message;

b) The plan and process of deploying a retirement insurance product, including the following:

-Summary of the main content of the retirement insurance product expected to deploy, including information on the target market of the product, the insurance rights expected to provide; and the project.

-The venue is expected to deploy the retirement insurance product;

-A secure technical facilities program for the deployment of retirement insurance products, including: information technology systems; accounting systems; selection processes, training, management of product distribution management; content and agent training programs. Retirement insurance; lists and records of retirement insurance agents in retirement insurance;

-The basis for the allocation of premiums;

-The insurance business of the insurance business for the voluntary pension fund in the cases: customers require an insurance payout when there is an insurance event; customers require a transfer of retirement insurance accounts; expunking insurance contracts and other financial services. the other case by regulation at the rule, clause;

c) Committed with text accompanying the detailed solution of the insurance business that meets the regulatory conditions at Article 4 of this and the degree proof of the degree, capacity, professional experience of voluntary pension fund managers;

d) Rules, terms and provision of retirement insurance products expected to deploy;

The technical base of the retirement insurance product is expected to deploy, which specifies the formula, method, engineering base process for charging fees, a career room;

e) A product introduction of the product, sales illustrator, insurance claim pattern, insurance certificate pattern, and other types of paperwork that the customer must prescribe and sign when purchasing insurance.

3. During the 30 (thirty) date of the date from the full date of receiving sufficient records at paragraph 2 Article, the Ministry of Finance has a written approval or refused approval. The case refused to accept, the Treasury Department explained the reason.

4. In case the insurance business that permits the deployment of new retirement insurance products outside of the retirement insurance product has been approved, the filing for the approval of the retirement insurance product does not include regulatory documents at point b and c 2 Articles 2. This, except for the case of these documents, has changed in comparison to the time that the retirement insurance product was approved by the Treasury.

Item 2

VOLUNTARY RETIREMENT FUND MANAGEMENT AND MANAGEMENT

What? 10. Set up and manage your voluntary retirement fund

1. When setting up a voluntary retirement fund, the insurance business must use the equity fund that contributes to the voluntary pension fund that is no less than 200 (two hundred) billion and must maintain a minimum of 200 (two hundred) of copper at this fund.

2. The voluntary pension fund is managed and used the appropriate investment in terms of the financial regime applicable to the life insurance business and regulations at this Smart.

3. The assets of the voluntary pension fund include assets formed from an insurance source, the contribution of the life insurance business specified at 1 Article and the assets formed from the investment returns of the above sources.

The insurance business is not used by the voluntary pension fund to pay the fines due to the violation of the law, debts, and transactions that are not related to the voluntary pension fund.

4. The entire property forms from the insurance source of the voluntary pension fund belonging to the insured.

5. The representative before the law, the accounting expert and chief accountant of the insurance business is responsible for the accuracy of the separation of the fund, which determines the principle of allocating the distribution deals on property, capital, revenue and related costs. Look at every fund.

What? 11. Regulation of the property investment of the voluntary pension fund

1. The investment of the assets of the voluntary pension fund must comply with the rule of law, self-responsibility for investment activity, guarantee of safety, efficiency, risk distribution, liquidity, value of investment assets that are equivalent to responsibility and risk of risk. of the retirement insurance product.

2. The assets of the voluntary pension fund are not directly invested in real estate, gold, silver, precious metals, precious stones; not invested in the stock of securities companies, financial firms, financial leasing companies.

3. Catalogue and limit the assets of the specific voluntary pension fund as follows:

a) To deposit money at non-restrictive credit organizations, but no more than 20% of the total investment property value of the pension fund voluntarily enters a credit organization;

b) Buy non-restrictive Government bonds, but no less than 40% of the total investment asset value of the voluntary pension fund;

c) The government bond has a Government guarantee, local government bonds do not exceed 25% of the total investment asset value of the voluntary pension fund;

d) Buy stocks, unsecured corporate bonds, which contribute to other businesses that maximize no more than 20% of the total investment asset value of the voluntary retirement fund.

Investing in a business ' s issued share of a business, corporate bonds are not exceeding 5% of the volume per release and are not exceeding 5% of the total investment asset value of the voluntary retirement fund.

4. Depending on the change in the financial market and the investment activity, the Ministry of Finance is able to regulate the portfolio and limit the investment of regulation at this.

What? 12. Fund Management Company

1. The insurance business implementing a pension insurance product is entitled to actively manage, invest the assets of the voluntary pension fund or trust the company that manages the fund investment fund of the voluntary pension fund or hire a portfolio management fund management company. the portfolio of voluntary pension fund assets in accordance with the extent, objectives, investment strategies of the voluntary pension fund and the regulation of the existing law.

2. When participating in the mandate or portfolio management of the assets of the voluntary pension fund, the fund management company must have a minimum of 3 (three) employees with a minimum of 3 (three) years of retirement fund management experience or a co-insurance or business equity fund. Investment portfolio management has a per-average investment term per 05 (year) years. These employees must be able to conduct a fund management practice issued by the State Securities Commission or a member of the Association of Financial Analysts (CFA) or graduate of the university, master's degree, Ph.D. in finance or investment.

3. The fund management company must open its own account to manage separate investment assets from the insurance business of the insurance business with other funds of the insurance business and of other customers. The fund management company does not use the assets of the voluntary pension fund to perform any transaction or purpose other than the specified content at the trust contract or the portfolio manager of the insurance business.

4. The fund management company must be responsible for any flaws or losses caused by the mandate or portfolio management of the assets of the voluntary pension fund.

Section III

RETIREMENT INSURANCE ACCOUNTS

What? 13. Penal Insurance Account

1. The retirement insurance account is a collection of closed premiums after minus the initial fee, which is open-insurance, monitored and managed separately for each of the insured.

2. The insurance business must commit the minimum investment interest rate of the retirement insurance account at the insurance contract. At the end of each fiscal year, the insurance business is responsible for the publication of the investment interest and the accumulated account value to that point. The insurance business is responsible for using the property of the owner fund to make up for each retirement insurance account the deficit compared to the already committed interest.

3. The insured is not withdrawn in advance of the retirement insurance account when it is not reached by the agreed age at the insurance contract, except for the specified case at Article 14.

What? 14. Withdraw the retirement insurance account

The insured is entitled to ask the insurance business for a partial or full retirement insurance account value in the following cases:

1. The insured is impaired by the ability to labor 61% or more according to the law of the current law;

2. The insured has a poor illness according to the rule of law.

What? 15. Transfer your retirement insurance account

1. When the insured is terminated the contract of labor or loss of employment and is no longer a member of the group pension insurance contract, the insured has the following right:

a) Transfer the retirement insurance account value from the group retirement insurance contract to the individual retirement insurance contract with the corresponding value at the same insurance business, or the insurance business.

b) Transfer its retirement insurance account to the retirement insurance contract of the new business. The new group retirement insurance contract may be at the same insurance business or other insurance business, depending on the new business.

2. For the case of transferring retirement insurance accounts in the same insurance business, the base in the text confirms the cost of the insurance buyer and the text offer to transfer the insured ' s account, the insurance business has a responsibility to move it. the account at the request of the insured. The insurance business is not allowed to collect retirement insurance accounts.

3. For the case of transferring to the group retirement insurance contract at the new insurance business, in the period 05 (year) day of work since the date of receiving a request to transfer the retirement insurance account, evidence of the insured is not continuing. join the group retirement insurance contract at the former business and as a member of the new group retirement insurance contract, the insurance business must transfer the entire value of retirement insurance accounts accumulated to the time of receiving a request to transfer the account. to the insurance business that receives transfers after subtracing the account transfer fee (if any).

4. The retirement insurance account value transferred will accumulate under the agreement at the new group retirement insurance contract.

5. The insurance business receives a transfer that is not allowed to charge initially for the value of the retirement insurance account transferred.

What? 16. Regulation of temporarily closing retirement insurance accounts

1. The insurance buyer and the insurance business may make a deal about temporarily closing the retirement insurance account in the absence of an insurance premiums.

2. During the interim period of closing the retirement insurance account, the insurance business is not allowed to charge any fees for the insurance buyer. Retirement insurance account value is accumulated in terms of investment rates announced by the insurance business annually under the insurance contract. The insurance business does not have an obligation to pay the insurance rights during this time, except for the case of paying the recurring retirement rights when the insured reaches a certain age or the full cost of the accumulated pension insurance account value. to the time of the insured death or disability of all eternity.

3. The insurance party may ask the insurance business to restore the retirement insurance account and continue to pay the premium.

Section IV

THE RESPONSIBILITY TO PUBLISH THE INFORMATION OF THE INSURANCE BUSINESS

What? 17. Information about retirement insurance

1. The insurance business is responsible for the correct, full and timely publication of the insurance buyer of information relating to the registered retirement insurance contract. The information provided to the insurance party must be consistent with the retirement insurance product approved by the Ministry of Finance.

2. The insurance business has to establish a customer care department, which specializes in answering, addressing questions related to the retirement insurance contract.

3. After being approved by the Ministry of Finance for retirement insurance products, the insurance business is responsible for building a website on pension insurance:

a) The guide to the insurance buyer self-establish his retirement plans;

b) The insurance buyer may self-examine the information of the pension insurance contract and the agent ' s advisory information;

c) The insured can examine the value of a personal retirement insurance account at each time of time;

d) The illustrator rights for pension insurance products must be clearly distinguished between the right of guarantees and the assumed rights;

Publicly and updated the entire rule, the provision has been approved by the Ministry of Finance, the product refereing document, the sales illustrator, the investment results of the voluntary retirement fund in 05 (the year) the year's most recent consecutive year.

4. The insurance buyer has the right to ask the insurance business to provide full information and explain the conditions, the insurance clause to be aware of the risks associated with the retirement of the retirement insurance contract.

5. Business Insurance reports the Ministry of Finance results of the annual Periodic Voluntary Retirement Fund in Annex III issued by this message.

What? 18. Penal Insurance Contract

The pension insurance contract must be consistent with the rule of law and there is full of information below:

1. The contribution coverage of the insurance party, the insured;

2. The deadline for the retirement insurance contract includes the closing deadline, the accumulation of insurance premiums and the time to receive basic insurance benefits;

3. The responsibility of the stakeholders involved in the case of group retirement insurance;

4. The choices and rights of the insured are in the case of the group retirement insurance contract;

5. Rate, specific amount, maximum level and how to calculate the amount of charges associated with the retirement insurance contract;

6. The rights and obligations of the parties under the rule of law;

7. Attend the retirement rights panel at the insurance contract;

8. Regulation of the right to transfer retirement insurance accounts by regulation at Article 15 of this Notice.

What? 19. Product Introduction Document

1. The document introduces the product that meets the rules of the law and must have a minimum of the following information:

a) Investment policies, goals and the assets investment structure of the voluntary pension fund;

b) The ratio and maximum level of the initial fee, risk premiums, contract management fees, voluntary retirement fund management fees, retirement savings account fees and other charges;

c) The minimum investment interest committed to the insurance buyer for the portion of premiums is allocated to the retirement insurance account;

d) The basis and periodic valuation of the retirement insurance account value;

) The clear information for the insurance party to know the retirement of retirement insurance contracts is a long-term commitment and not to be withdrawn in advance of the retirement insurance account except for the specified case at Article 14 of this.

2. The information in the document presenting the correct product, objective, full, honest and consistent with the retirement insurance product has been approved by the Ministry of Finance.

What? 20. Sales illustrator

The sales illustrator meets the provisions of the law and the following regulations:

1. The sales illustrator of the retirement insurance product must be provided to the insurance buyer before the contract of the insurance contract and has the minimum information under Annex IV issued by this message;

2. The clear theory for the purchasate of the rights insurance the client can be received when the transaction of the pension insurance contract, which includes risk insurance and recurring pension rights;

3. The charges and the maximum limit that the insurance buyer must pay is evident on the basis of separation between premiums for risk insurance rights and other charges;

4. In the case of a pension insurance contract with additional reinsurance benefits, the insurance business must be sure to be clear in the document illustrator sales of that grant rights and the impact on the insurance buyer and the insured;

5. Sales illustrators must be clearly presented, easily understood.

What? 21. Notice of Insurance Contracts

1. Notice of retirement insurance account:

In the course of 90 (ninety) of the day since the end of the fiscal year or year of contract, the insurance business is responsible for informed by text or email to the insured person on the status of the sample retirement insurance contract at the Annex. V issued this message.

2. Notice of the operational results of the voluntary retirement fund:

In the period of 90 (ninety) days from the end of the fiscal year, the insurance business must inform the buyer and the insured for the following content:

a) The summary information on the operational situation of the voluntary pension fund in accordance with the Appendix VI issued with this Information;

b) The operational situation of the voluntary pension fund in 05 (the year) the closest year or the actual existence of the fund if the operating time of the fund is not enough 05 (year) years;

d) Details of the investment rights that have split and are expected to allocate to the retirement insurance account in the year of reporting;

Confirmation of the independent audit firm of the above information.

What? 22. Language Using

The language used in the literature, information related to the retirement insurance product is Vietnamese. For product refereholders, the sales illustrator, the font used is the Time New Roman, the minimum size of 13 (thirteen) or other font with the equivalent size and must conform to the regulation at this message.

Section V

THE ABILITY TO PAY, THE BUSINESS ROOM.

What? 23. Payment capacity

1. Life insurance business must always maintain the ability to pay under the rule of law.

2. The minimum payment capacity of the insurance business by a total of 4% of the insurance business reserve and 0.3% of the premiums are at risk.

3. The payment margin of the insurance business must always be higher than the minimum payment capacity margin of 300 (three hundred) billion.

What? 24. Quote the backup

1. The insurance business must extract the business reserve as follows:

a) The insurance risk reserve: is the greater number between the unhedonable and expected-to-plan for a cash flow method in order to meet all future costs over the course of the contract;

b) The compensation reserve: quoted by a method of filing with a calculated extract on the basis of the amount of insurance that must pay for each case has required a claim for insurance business but by the end of the fiscal year it has not been resolved;

c) The business reserve for the retirement insurance account: is the total value of retirement insurance accounts at the time of the extraction;

d) The interest rate commits a minimum investment: This is used to ensure the business ' s minimum commitment interest rate to the customer under the agreement at the retirement insurance contract.

2. The insurance business of the insurance business has the responsibility to define the method, base, and task room metrics to always ensure the commitments to the insurance party in accordance with the principles and the calculation methodology widely acknowledged in accordance with the following: International law.

Section VI

THE INSURANCE AGENT, THE INSURANCE ROSE AND THE INSURANCE DISTRIBUTION

What? 25. Conditions for insurance agents

1. To deploy the retirement insurance product, the insurance business uses only the insurance agents that meet all the following conditions:

a) There is a certificate of insurance agent due to the training facility approved by the Ministry of Finance;

b) Do not violate the ethical profession of occupational ethics of the insurance business in the time of agent practice;

c) There are at least 06 (six) months of continuous life insurance agents or 06 (six) months of continuous employment in the financial sector, banking, insurance.

2. The insurance business has to be responsible for the damage or losses due to its dealership activity caused by the agreement at the insurance agent contract.

What? 26.

1. The Rose Insurance product for maximum retirement insurance products 3% of total insurance premiums.

2. The insurance business is not allowed to pay the insurance commission on the case of the insurance party ending the existing life insurance contract and join the new retirement insurance contract at the business.

3. The insurance business is not allowed to pay for the insurance agent any other than the insurance rose and the agent ' s management. The governing genus includes the original training and the examination of the agent's certificate, the training of the management of knowledge to the agent, the management of the agent, the prize money, and the management of the agent.

4. For recruitment insurance agents from other insurance businesses, the insurance business is only covered by the insurance commission and the management costs as for the current agents of the business. Other expenses (if any) must be taken from the tax returns of the equity fund.

What? 27. Career Guide

The insurance business that deploes retirement insurance products must enact a career guidance manual on retirement insurance products, tracking, managing the implementation of this manual, including or attached to the following documents:

1. Career ethics rules in the distribution of retirement insurance products;

2. Statistics the number and status of life insurance contracts that have been associated with the insurance buyer before the end of the retirement insurance contract;

3. The customer proves the customer has read, advised and understood the retirement insurance product;

4. Process and request cross-examination results of the insurance business ' s advisory on pension insurance contracts;

5. Career processes involved in the distribution of retirement insurance products, task assignments, accountability and coordination between departments, departments in the insurance business during the distribution of retirement insurance products;

6. Check out, internal control over the deployment of pension insurance products under the rule of law;

7. The responsibility for responsibility in raising awareness to customers on retirement insurance products ensures that the customer must be aware of the contribution, accumulation of retirement insurance accounts, terms, types of fees, conditions, terms of the contract, and employment. It's the insurance.

What? 28. Distribution of retirement insurance products

Organization, the individual who distributs a responsible retirement insurance product:

1. comply with the regulation of the law on insurance activities, contracting contracts with the insurance business and the occupational ethics rules issued by the insurance business;

2. Process counseling has been instructed and other processes issued by the insurance business;

3. Make sure that the text that proves the customer has been fully consulted, understood and explained in terms of the rights of the product, which is aware of the features of the selected product before signing the insurance claim record;

4. Business Reports Insurance results in a career manual. This report is part of the insurance request filing.

Chapter III

THE ORGANIZATION.

What? 29. Monitor and breach of violation

1. Corporate insurance, insurance, organization, and individuals are subject to the oversight of the Ministry of Finance during the deployment of pension insurance products under the rule of law.

2. The insurance business is not introduced, selling out life insurance products that are not part of the prescribed retirement insurance business at this Smart, with the commercial name being a pension insurance or other names that make misleading customers are the most important. This product provides additional income for the insured at the end of the labor age.

3. The insurance business, insurance agent, organization and individual relevant violations will be dealt with by the rule of law.

What? 30.

1. This message has been in effect since October 15, 2013.

2. In the course of execution, if there is difficulty, entanged, the offer reflects in time for the Ministry of Finance to review, resolve ./.