Ministry of Labour and Social Security, Circular on Issues Relevant to Record Filing for Enterprise Pension Plans and Fund Management Contracts

Issued: December 19 2005
Effective: as of date of issue
Applicability: In the event of a conflict between other provisions and this Circular, this Circular shall prevail (Section Four).

Main contents: Enterprises shall submit their enterprise pension plans for the record to the labour and social security administrative department of the local people's government at or above the county level of the social insurance organization region where they are located. Enterprises may, in accordance with the enterprise pension plan, represent both parties of group negotiation as the entrusting party, or have the enterprise and its staff and workers as the entrusting party, to conclude the contract for entrusted management with the entrusted legal person institution or the enterprise pension council. After conclusion of the contract for entrusted management, the entrusted party shall submit the contract for entrusted management, and the contracts for entrusting management signed with the account manager, custodian and investment manager, to the labour and social security administrative department for the record (Section One). Enterprises that have established supplementary old-age pension insurance shall, in accordance with state provisions, amend and retroactively file for the record the original plan and fund management contract (Section Four).
Related legislation: Trial Measures for Enterprise Pensions, Jan 6 2004, CLP 2004 No.6 p.5 and Trial Measures for the Administration of Enterprise Pension Funds, Feb 23 2004, CLP 2004 No.5 p.7