1. Occupational annuity is a general term for institutions and administrative units to provide supplementary endowment insurance for employees or public officials;
2. Occupational annuity is similar to the current enterprise annuity system in China, and the difference lies in the different nature of the unit and the employees. Occupational annuities are funded by units and individuals according to a certain proportion. Invest and operate according to regulations during employees' work. Employees can only get occupational annuity funds after retirement, which is characterized by deferred payment protected by law.
Can I get the occupational annuity in one lump sum?
Occupational annuity can be received in one lump sum, but it must meet one of the following conditions:
1, after retirement, buy commercial endowment insurance products at one time, and then receive monthly benefits according to the insurance agreement;
2. If you live abroad, you can pay me in one lump sum;
3. If he dies during his employment, the personal account balance of the occupational annuity can be inherited.
How to receive an occupational annuity
1, pay monthly. After the staff goes through the retirement formalities, I choose to receive the occupational annuity treatment on a monthly basis;
2. One-time payment. The funds in the personal account of the occupational annuity for people who have settled abroad can be paid to me in one lump sum.
3. Balanced inheritance. If a staff member dies while in office, the personal account balance of his occupational annuity can be inherited.
Legal basis: Article 2 of the Interim Measures for the Administration of Occupational Pension Funds.
The term "occupational annuity fund" as mentioned in these Measures refers to the supplementary endowment insurance fund of institutions and institutions formed by the funds raised by legally established occupational annuity plans and their investment and operation income. These Measures shall apply to the entrusted management, account management, entrusted management, custody, investment management and supervision and management of occupational annuity funds.