Advantages of Ping An’s Pension Administration

Advantages of Ping An’s Pension Administration

Ping An Annuity has become a leading professional pension administration institution in China, based on its years-long experience in pension asset management and account administration, management experience learning from Mandatory Provident Funds (MPF) in Hong Kong, its professional administration system, professional administration service teams, and professional administration services. Let us take a look at a success case of Ping An’s corporate pension administration.

  • A professional administration institution
    • 1) the first professional pension company in China

      Ping An Annuity Co., Ltd. was founded on Dec 13, 2004. It is the first professional pension company in China, and is one of the institutions in China obtaining three pension management qualifications from the Ministry of Labor and Social Security.

    • 2) Rich experience in pension administration

      During over ten years of management of corporate pension’s predecessor – supplementary pension insurance, Ping An have served more than 70,000 enterprises, managed over 4mn individual accounts, and accumulated rich experience in administration and services.

    • 3) The first annuity product based on completely cumulative personal accounts in Mainland China

      As early as in 2001, after studying the operation experience of 401K in the U.S., Ping An launched the first annuity product based on completely cumulative personal accounts in China, and became the first institution to have an annuity product based on completely cumulative personal accounts in Mainland China.

  • A professional administration system

    1) Autonomous research and development, with complete intellectual property rights. Based on more than 10 years of experience in supplementary pension insurance and strong IT strength, Ping An is one of a small number of administrators to employ an autonomous R&D mode in the industry. Ping An’s administration system has complete intellectual property rights, can respond to customers’ personalized demands quickly, and can provide customers with tailer-made services.

    2) Systematic seamless management through the process. Through the administration process, systematic seamless management is realized. A large number of new technologies are adopted: image & work flows, professional document inputting, etc. Via system management technologies, security and high efficiency of administration are realized.

    3) Efficient and rigorous customer record keeping and processing. All the customer records are included in the system management from the time of acceptance, for avoiding missing or damaging during the transfer process, and ensuring security and completeness to the largest extent.

    4) Flexible account structure. Ping An’s account structure can adapt to an enterprise’s organization structure very well. It can flexibly support the subordinates’ establishment, spliting, merging and restructuring, and the addition and alteration to management relations between upper-level & lower-level entities. It can completely adapt to pension management requirements of diffrerent enterprises (esp. large corporate groups.)

    5) Supporting various types of corporate pension schemes. Ping An’s administration system, via embedded advanced specified rule engine tools, supports open rule configuration. All kinds of complicated corporate pension schemes can be included in system management, technically allowing the provision of customized administration services for each enterprise.

    6) Supporting individual selection of investment portfolios. Ping An’s administration can offer multiple ways to select investment portfolios, providing customers with selection of & switching between investment portfolios down to each employee (they can select different portfolios, and decide different proportions.) So, different employees’ different preferences can be fully satisfied.

  • Professional administration teams

    1) Administration teams with refined job division, providing customers with the best services. Ping An’s administration teams include a professional operation team, an expert team, and a service team, employing a professional job-division mode. For each customer, Ping An has at least over 20 staff providing professional administration services. Each staff has enough professional capacity, and there’re enough manpower reserves for each position, ensuring long-term stable customer service levels.

    2) Full-time administration staff providing customers with standard and consistent services. Ping An’s administration staff are all full-time. And Ping An ensures the administration process’ accuracy and security via standardization approaches including professional training, standard operation manuals, system support, etc. for providing customers with standard and consistent administration services.

  • Professional administration services

    1) Highly transparent and real-time online services. Enterprises’ pension management departments and every employee can enjoy Ping An’s efficient, convenient, diversified and transparent administration services without leaving their houses. Ping An assists enterprises and their employees manage corporate pension accounts more effectively.

    2) One-stop employee benefit inquiry service. WWW.PINGAN.COM provides customers with one-stop inquiry service. A customer can use one account number to inquire about all the products he/she owns with Ping An - corporate annuity, group comprehensive benefit insurance plan, etc.

    3) Convenient pension hotline service. Ping An’s administration provides pension hotline (4008-1-95511) service. The separate pension hotline can effectively raise customers’ call-in rate and shorten their waiting time, avoiding the problem of pension customers competing against other.