The pension market implements a "blacklist" system, and these actions will be prohibited.jpg

The “Administrative Measures on the List of Joint Disciplinary Targets for Dishonest Pension Service Market” formulated by the Ministry of Civil Affairs will be implemented from June 1, 2020. This method is also known as the “blacklist” system for the elderly industry.

For pension service agencies and employees who have been listed as serious violations of the law and credit, measures such as credit constraints and joint disciplinary measures will be implemented.

The "Measures" stipulate that pension service agencies and employees who have one of the following circumstances will be included in the list of joint punishment targets while being punished by the relevant departments according to law and regulations:

✔ Conducting activities beyond the purpose and business scope specified in the articles of association;

✔ Violating the legal rights and interests of the elderly due to the behavior of elderly care

✔ Defrauding the property of the elderly by means of illegal fund-raising or selling “health care” products by deception;

✔ There are major fire hazards, unreasonable delays, and no change overdue;

✔ Those who have primary or direct responsibility for the safety accidents that occur;

✔ There are illegal acts involving fiscal funds, such as fraudulently obtaining government subsidy funds through fraudulent reports;

✔ Refusing to accept or failing to accept supervision and inspection in accordance with regulations, or concealing the real situation or falsifying when accepting supervision and inspection;

✔ Failure to submit annual work reports and fulfill information disclosure obligations in accordance with regulations;

✔ Other serious violations of the law and trustworthiness in violation of the relevant provisions of the old-age service management;

The pension service institutions and practitioners included in the list of joint disciplinary objects will be restricted in enjoying preferential policies or obtaining honors, holding important positions, industry access, etc., and increasing the supervision of the joint disciplinary objects to improve their The cost of breaking the law.