On the afternoon of January 26^th_, commissioned by Shell China Co., Ltd, Zeng Xiangquan, Director of China Institute for Employment Research of Renmin University of China and Professor of School of Labor and Human Resources, held successfully the achievement report on the topic of “Enterprise Development and Endowment Insurance System Reform: Change of Endowment Insurance System and Its Effect on Multinational Corporations” in the second floor of Yifu Hall in Renmin University of China. More than 50 persons presented the meeting, such as Wang Jing, Vice President of Human Resources Department in Shell China Co., Ltd; Wang Zeying, Vice Director of Institute for Social Security Research of National Human Resources and Social Security Department; Lu Wanchun, General Manager of China Life Pension Co., Ltd in Beijing; Wu Jingmin, Subeditor of Journal of Renmin University of China; Professor Pan Jintang, Professor Han Keqing, Professor Zhou Wenxia, Associate Professor Su Zhongxing, Lecturer Guo Yu, Lecture Yu Kun, School of Labor and Human Resources, and staffs of Human Resources Department in Shell China Co., Ltd.

Professor Zeng Xiangquan had a brief introduction about the background, research objective, research methods and achievements of this task. Understanding thoroughly the change of endowment insurance system, seizing well the endowment insurance system in china, especially studying the further reform objective and direction of enterprise pension system are very important for multinational companies to promote and implement the talent strategy, to absorb and maintain the excellent talents, and to strengthen and improve stimulation mechanism for enterprise staffs. Endowment insurance is the important content of social governance and the important basic condition of social stability and economic development, it will impact the multinational companies’ survival and development environment. The payable social insurance premiums, especially the tax policy of endowment insurance, has a great influence on the enterprise labor costs, will further affect the operations of multinational companies, and the layout adjustment of  global human resources. This study uses the qualitative analysis and quantitative research methods. The research group conducts in-depth interview among 41 staffs from government departments, foreign companies, agencies, as well as Shell in China Co., Ltd. It has quantitative analysis on the factors about affecting the enterprise annuity staff to participate and the influence of enterprise annuity on the search and term of employee job by taking advantage of "Chinese enterprises matching employer - employee data" (CMEELS). This study has made series of important achievements, part of the results published in the Journal of Renmin University of China in January of 2016.

Professor Han Keqing introduced the situation of China's enterprise annuity development. Since has reformed the market, China has established the basic old-age insurance system mode of combination of social pooling and individual account. The enterprise annuity also has a great development as an important supplement to the basic pension insurance. Combining with the qualitative interviews data, he made an in-depth analysis of the main problems existing in the current enterprise annuity: First, the big difference between state-owned enterprises, foreign invested enterprises, and private enterprises; Second, the limited function of talent incentive; Third, the preferential tax policy is still not in place; Forth, the investment and operation environment is not healthy; Fifth, the main operation and process is complicated. In view of the above question, he believed that the China enterprise annuity future development need to  address well the relationship between the basic old-age insurance and the occupational pension, and put forward the policy proposal, such as to manage the personal accounts of basic pension insurance, to simplify the operation subject and process of enterprise annuity, to reduce the access threshold of enterprise annuity, to strengthen the academic research of enterprise annuity.

Lecturer Guo Yu introduced research results on the influence factors of participation in the enterprise pension. By analyzing the data of “employers and employees in Chinese enterprises”, investigate the influencing factors of the willingness and behavior of enterprise employees to the supplementary pension insurance. The research results show that the factors that affect the actual participation of enterprise annuity in China are related to the nature of the enterprise and the characteristics of the industry, and the design concept and the value orientation of enterprises paying remuneration to employees. And the willingness to participate reflects more the function of the personal situation and the role of individual subjective initiative, among personal characteristics, especially the educational level has a significant impact. Accordingly, she provided the corresponding policy recommendations.

Professor Pan Jintang made a comment on the reports of Han Keqing and Guo Yu. He believes, the initial establishment of the enterprise annuity is to supply for  the short part of the lower rate of pension replacement after reforming endowment insurance. And the enterprise annuity develops so far, but still with low coverage  concentrating in the state-owned enterprises. The development direction of enterprise annuity in our country should be to allow private enterprises to establish the enterprise annuity, according to the development prospect, with the development of the gem and the new board, the vigorous development of small and medium-sized private enterprises will be the hope of the development and success of China enterprise annuity in the future.

Associate Professor Su Zhongxing introduced the research results on "basic old age insurance rates" . Through the international comparison and the analysis of real plight and reform direction, he believes that China basic old-age insurance rates reform is facing a dilemma. On the one hand, the international comparison shows that China basic old-age insurance rates is too high and in the reality enterprises generally reflect the insurance payment burden is overweight. On the other hand, the problems are the decline on the pension replacement rate and the payment gap of the future pension due to the aging of the population and impractical payment base. Through analyzing the international comparison of basic endowment insurance rate, the realistic predicament of primary endowment insurance in our country and  the possible impacts caused by reducing the rate, he further put forward the reform direction of China basic old-age insurance rate and the policy recommendations in dilemma.

Xu Changjie, Assistant Researcher in the China Institute for Employment Research, described the research results on the "impact caused by the enterprise annuity to the job search and tenure of employees" which he and Professor Zeng Xiangquan undertook together. Based on the data of China employers and employees matching in 2013, explored the effects of the occupational pension on job search and tenure. The empirical results show that the occupational pension as dichotomous variable has a significant negative effect on the job search behavior of women over 30-year-old, while the impact on male job search behavior is not significant. In addition, the enterprise annuity has a significant effect on employee tenure, and it is more significant in larger companies. Therefore, it can be determined that the implementation of enterprise annuity has a related economic effect on the micro labor market in our country.

Wang Zeying, Deputy Director of Institute for Social Security Research of National Human Resources and Social Security Research Department made a brief comment on the reports of Su Zhongxing and Xu Changjie. He believes that China  enterprise pension insurance rates can be further studied from two aspects: one is the burden of enterprises, the other is the payment of treatment. The reasons of the deficient development of China enterprise annuity, from the view of government, the complement insurance nature deciding the harsh conditions of participating; from the view of enterprises, also need to have an in-depth microscopic mechanism analysis about the actual function of the enterprise annuity in attracting, retaining and screening the talents; from the view of employees, whether the basic insurance or the supplementary insurance, eventually from the view of the long-term results of the payment burden, will transfer to their employees, but endowment insurance of employees do some preventions of the old-age risk in the future, and it is in favor of the society stability, and the production and development of enterprises. To this issue, need to further strengthen understanding.

During the theme report, Professor Zeng Xiangquan, Professor Pan Jintang, Vice-President Wang Jing, General Manager Lu Wanchun with the present audience also took an in-depth interactive about the objective of setting up enterprise annuity, enterprises how attract individuals to participate in the enterprise annuity, tax policy of supplementary pension, the pension plan of employees in Shell in China Co, Ltd, and the rate of social actuarial mathematics in our country.

Wang Jing, Vice-President of Human Resources Department of Shell in China Co., Ltd. made a summary statement. He sincerely thanked for more than one year of hard work of the team . She believed that, in cooperation with the teachers from School of Labor and Human Resources, deeply felt the height of research and understanding of every professor in the field of labor science in China. She believed that such cooperation can help enterprises to broaden their horizons, for the enterprise to bring some theoretical guidance, but also help the scholars in the China science field to promote the experience of China economic boom in the international range by showing their thinking wisdom and research results.