According to the occupational annuity regulations, any party related to the operation of occupational annuity shall report property fund management information to both, client and regulatory authorities, responsible for assuring authenticity, accuracy and integrity of the content reported.
The principle of information disclosure is to assure information symmetry between trustee, principal and beneficiary and to prevent moral risks. The trustee shall follow the principle of adequacy, effectiveness, timeliness and openness, pursue information disclosure towards principal, beneficiaries and regulatory authorities and fulfill the duties of accepting enquiries, delivering regular as well as timely reports if major events occur.
Taiping Pension has already built a very efficient information disclosure system to ensure that the principal and the participants get instant information on the operations of their occupational annuity program.
Reports provided to the principal include:
|
The Recipient |
Type of Reports |
Efficiency of Reporting |
The Submitter |
Time of Submission |
|
The Principal |
Trustee Management Report |
Yealy & Quarterly |
The Trustee |
Within 15 days after quarterly closing
Within 45 days after the year-end |
|
Report if major events occur |
Real-time |
Within 5 working days after the event occured |
|
Corporate Account Information Enquiry |
Real-time |
The Account Manager |
Real-time |
|
The Beneficiary |
Plan Members¡¯ Equity Reports |
As provided |
The Account Manager |
Once a year |
|
Individual Account Information Enquiry |
Real-time |
Real-time |
|
