China Banking and Insurance Regulatory Commission: The pilot of exclusive commercial pension insurance will be expanded to the whole country
China News Service, Beijing, February 21 (Reporter Wang Enbo) The "Notice of the General Office of the China Banking and Insurance Regulatory Commission on Expanding the Pilot Scope of Exclusive Commercial Endowment Insurance" was released on the 21st.
The notice stated that from March 1, 2022, the pilot area of exclusive commercial pension insurance will be expanded to the whole country of China.
On the basis of the original 6 pilot companies, endowment insurance companies are allowed to participate in the pilot program of exclusive commercial endowment insurance.
Exclusive commercial endowment insurance refers to individual endowment annuity insurance products for individuals aged 60 and above for the purpose of endowment security.
Product design is divided into two stages: accumulation period and receiving period, and the receiving period shall not be shorter than 10 years.
The product adopts account-based management, and the calculation of account value and fee collection are open and transparent.
From June 1, 2021, the government will launch a pilot program of exclusive commercial endowment insurance in Zhejiang Province (including Ningbo City) and Chongqing City.
Insurance companies previously participating in the pilot include: People's Life Insurance Company of China, China Life Insurance Company Limited, Taiping Life Insurance Company Limited, China Pacific Life Insurance Company Limited, Taikang Life Insurance Company Limited, and New China Life Insurance Company Limited .
Exclusive commercial endowment insurance is an integral part of the third pillar endowment insurance. Its pension accumulation and receiving services are more flexible, and it is considered to be helpful for solving new industries such as car-hailing drivers, takeaways and other new industries, new business types and flexible employment. pension issues for people.
The above notice pointed out that since the launch of the pilot program of exclusive commercial pension insurance, the overall operation has been stable and the business scale has grown steadily. The pilot companies have actively innovated products and services to provide consumers with more safe and stable long-term pension insurance options.
In order to further explore the development experience of commercial endowment insurance and better meet the multi-level endowment security needs of the public, with the approval of the China Banking and Insurance Regulatory Commission, it has been decided to expand the scope of the pilot program of exclusive commercial endowment insurance.
The China Banking and Insurance Regulatory Commission emphasized that each pilot company should adhere to the long-term business philosophy, formulate business development plans reasonably, and advance various tasks in an orderly manner.
On the premise of resolutely holding the bottom line of risk, we will continue to innovate products and enhance the function of old-age security.
It is necessary to serve the overall situation of people's livelihood, and actively explore to meet the diversified needs of employees in new industries, new formats and flexible employment.
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