Source: Taiwan Straits Network
According to the Xiamen Evening News, the Xiamen Civil Affairs Bureau, the Xiamen Municipal Local Financial Supervision and Administration Bureau, and the Xiamen Supervision Bureau of the China Banking and Insurance Regulatory Commission recently jointly issued the "Interim Measures for the Management of Funds Received in Advance by Xiamen Elderly Care Service Institutions" (hereinafter referred to as the "Interim Measures"), which makes corresponding provisions on the whereabouts and uses of funds collected by Xiamen City Elderly Care Service Institutions such as prepayment, pledge, and pre-charge, as well as the management of depository accounts and regulatory measures.
The reporter learned that the introduction of the "Interim Measures" fills the policy gap in the supervision of pre-received funds of old-age service institutions in our city, and is the first special policy document on the management of pre-collected funds of old-age service institutions issued by cities across the country, involving the supervision of 43 old-age institutions and more than 30 home-based community old-age service institutions in the city.
The "Interim Measures" clearly stipulates that old-age service institutions shall not induce the elderly and their families to pay funds in advance in the form of promising to repay principal and interest or give other investment returns, promising to stay significantly below the market price or discounting rebates; old-age service institutions and their staff shall not sell illegal financial products to service recipients, shall not sell any kind of "health care" products and services, nor shall they provide assistance and support for other business entities or individuals to promote illegal financial products and "health care" product activities. Illegal fund-raising from service recipients is strictly prohibited. At the same time, old-age service institutions should also establish and improve the user information management system.
The Interim Measures also clearly stipulate the whereabouts and uses of funds collected by pension service institutions such as prepayment, pledge and pre-charge. Among them, for the "pre-deposit" that may cause the risk of "broken chain" of institutional funds and lead to serious consequences, and the "pledge fund" of more than 10,000 yuan, it is clear that management should be strengthened through the third-party depository of commercial banks to ensure the safety of funds. (Text/Reporter Zhang Shi Photo/Liu Donghua)