An enterprise annuity is a form of supplemental retirement savings program that is voluntary. China introduced enterprise annuities in 2004. Chinese companies can set up retirement benefit plans for individuals. While the design of each program is flexible, there are some restrictions such as maximums on employer and employee contributions. Enterprise annuity payouts can be structured as a lump-sum or a as series of payments like an annuity. The adoption of enterprise annuities in China has been affected by a lack of tax breaks, a low level of awareness and high qualification hurdles for employers or plan sponsors.