Zhongxin Finance, May 10. According to the official website of the China Banking and Insurance Regulatory Commission, the China Banking and Insurance Regulatory Commission recently issued a notice on regulating and promoting the development of commercial pension finance business.
Among them, it is proposed that commercial pension wealth management products shall not publicize the expected rate of return, encourage lifelong pension receiving services, and enrich the forms of pension receiving.
The China Banking and Insurance Regulatory Commission pointed out that the commercial pension financial business of banking and insurance institutions should reflect the pension attributes, the product period should meet the long-term pension needs of customers and the characteristics of the life cycle, and set corresponding binding requirements for the collection of funds.
Bancassurance institutions shall make clear agreements with customers on liquidity arrangements under special circumstances in product contracts, but shall not shorten the duration of business in a disguised form by means of time-structured design or other means.
The China Banking and Insurance Regulatory Commission has made it clear that banking and insurance institutions operating commercial pension finance business shall disclose information and risk warnings in accordance with regulatory provisions, and disclose key information such as deadlines, expenses, risks, and rights and interests in a timely, accurate and comprehensive manner.
Commercial pension financial product publicity materials and sales documents shall be concise and easy to understand, and shall not contain publicity that is inconsistent with facts or misleading.
Commercial pension wealth management products shall not advertise expected rate of return.
The China Banking and Insurance Regulatory Commission stated that it supports and encourages banking and insurance institutions to provide long-term to life-long pension collection services to customers, explore the connection of commercial pension financial products with pension, health, long-term care and other services, and enrich pension collection forms.
At the same time, support and encourage business cooperation between banking and insurance institutions.
In principle, the level of cooperation fees for commercial pension finance business shall not be higher than that of other businesses of the same type of the institution.
According to the content of the "Notice", financial products that meet the preferences of different investors and that meet the requirements of the CBIRC, such as bank wealth management, savings deposits, and commercial pension insurance, are safe in operation, mature and stable, with standardized targets, and focus on long-term value preservation can be included in the scope of personal pension investment. Enjoy the preferential tax policies stipulated by the state.
In addition, for commercial pension financial products that comply with the provisions of this Notice, banking and insurance institutions may use the word "pension" in product names and marketing promotions.
Other financial products may not use "pension" or other potentially confusing words in their names and marketing.
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