The implementation of the personal pension system has been accelerated, and the pension financial business has developed rapidly——
Take good care of your retirement money bag
Our reporter Guo Ziyuan
A few days ago, the "third pillar" of my country's old-age insurance system ushered in an institutional arrangement - the personal pension system.
According to the "Opinions on Promoting the Development of Individual Pensions" issued by the General Office of the State Council, it is necessary to promote the development of individual pensions suitable for China's national conditions, government policy support, individual voluntary participation, and market-oriented operation, as well as basic endowment insurance and enterprise (occupational) annuities. connected.
The reporter recently learned that the relevant supporting systems for the personal pension system are being formulated in full swing.
In addition to personal pensions, another important part of the "third pillar", "other personal commercial pension finance business", has also achieved rapid development in recent years, with increasingly diverse product categories.
Under the increasingly severe situation of my country's population aging, it has become a consensus to improve self-protection awareness, plan for old age life early, and reasonably reserve pension funds.
Many industry insiders suggested that three pillars should be planned according to personal financial situation, namely basic pension insurance, enterprise (occupational) annuity, and commercial pension finance; for the latter, savings, wealth management products and insurance should be allocated reasonably according to personal risk preferences. products to effectively diversify risks.
Volunteering for a personal pension
For many young people who are accustomed to overdraft consumption, the key to saving pension funds is to secure the export of funds, avoid "moonlight" or even eat food, so that the funds can steadily accumulate and increase in value.
The individual pension system being piloted in my country can effectively avoid the problem of early withdrawal.
A few days ago, the General Office of the State Council issued the "Opinions on Promoting the Development of Individual Pensions", and the individual pension system was officially introduced, which is of great significance to the construction of a multi-level and multi-pillar pension insurance system in my country.
As we all know, my country's old-age insurance system consists of "three pillars".
The first pillar is the basic old-age insurance, which is relatively well-developed and its coverage continues to expand; the second pillar is the enterprise annuity and occupational annuity, which mainly play a supplementary role and are established by the employer and its employees, and have a good foundation for development; The three pillars are slightly "inadequate". Previously, there was a lack of corresponding institutional arrangements, mainly including personal savings endowment insurance and commercial endowment insurance.
"Personal pension is the institutional arrangement of the state on the third pillar, which is conducive to adding another accumulation on the basis of basic pension insurance, enterprise annuity, and occupational annuity." Li Zhong, deputy minister of the Ministry of Human Resources and Social Security, said that after retirement With one more income, the standard of living after retirement can be further improved, and the life of the elderly can be more secure and of higher quality.
How to participate?
If you have already participated in the basic pension insurance, you can choose to participate in the personal pension. This system adheres to the voluntary principle and is not compulsory.
After that, individuals need to open two accounts: a personal pension account and a personal pension fund account. The former is used for information recording, inquiry and services, and the latter is used for payment, product purchase, and income collection.
"These two accounts are uniquely corresponding to each other, and participants can open them on the national social insurance public service platform, the national social security government service platform, electronic social security card, commercial banks and other channels." Department of Pension Insurance, Ministry of Human Resources and Social Security Chang Nie Mingjun introduced that the above two accounts can be opened at one time through commercial bank channels.
How to invest?
Individual pensions are paid by individuals, and participants can decide to participate in the whole or part of the year at their own discretion.
The annual payment ceiling for the initial stage is 12,000 yuan, and participants can decide how much to pay.
"Next, as the disposable income of urban and rural residents increases, the payment ceiling will be gradually increased in due course." Nie Mingjun said.
After payment, individual pensions are operated in a market-oriented manner. Participants can independently purchase bank wealth management, savings deposits, commercial pension insurance, public funds, etc., and can also carry out long, medium and short-term combinations. All the above operations are completed in the capital account, and there is no need to run multiple financial institutions.
"From overseas mature experience, participants can participate in the capital market through personal pensions and share the development dividends of the real economy." said Lin Xiaozheng, head of the Securities and Fund Institution Supervision Department of the China Securities Regulatory Commission.
How to get it?
Avoiding early withdrawal is a significant feature of personal pensions, which helps to rationally plan personal pension reserves and effectively supplement pensions.
Specifically, the funds in the account are closed and run, and only in and out during the payment stage. The payment and investment income are all rolled over in the account, and can only be received when the corresponding age conditions are reached.
Rational selection of pension funds
In addition to personal pensions, commercial pension finance represented by pension wealth management and exclusive commercial pension insurance is also an important part of the "third pillar", and has achieved rapid development in recent years.
Among them, pension wealth management has been actively subscribed by investors.
The reporter learned from the Banking Financial Management Registration and Custody Center that as of the end of the first quarter of 2022, 4 pilot institutions have released 16 pension wealth management products, and more than 165,000 investors have subscribed for about 42 billion yuan. Supply exceeds demand", many of the first batch of products have raised the planned fundraising scale for many times.
In addition, on June 20, two newly issued pension wealth management products officially ended their offering. As of now, the number of pension wealth management products has been expanded to 24.
There are not a few middle-aged people who favor pension financing.
According to the data of the Banking Industry Wealth Management Registration and Custody Center, investors aged 40 to 50 account for 27%, investors aged 30 to 40 account for nearly 20%, and the two together account for about 47%, accounting for nearly 30% of the total investors. Investors aged 50 to 60 accounted for the highest proportion at 28%.
"This reflects the breadth and urgency of investors' demand for pension wealth management, and also shows that the market space for pension wealth is broad," said Wang Hailu, chairman of ICBC Wealth Management.
It is worth noting that due to the generally long term of pension wealth management, investors need to rationally measure medium and long-term returns, and pension wealth management should not be used as a channel to "make quick money".
Judging from the pilot situation, the first batch of pension wealth management closed-end products has a term of 5 years, and some products have specially set dividend clauses to meet some of the liquidity needs of investors during the holding period.
"The purpose of pension financing is to guide investors to form a healthy and sustainable pension financing concept, make scientific and reasonable planning for pensions, and convert long-term funds into pension financial products according to their own actual conditions." said Dong Ximiao, chief researcher of China Merchants Union Finance.
To this end, investors should focus on three factors when purchasing pension wealth management.
First, consider your own pension needs and determine whether you need to make long-term pension investment; second, consider your own capital situation and choose an investment method that suits you; third, combine your own risk appetite and pay attention to the risk-return characteristics of pension wealth management products, and choose a risk situation that matches pension financial products.
Pension savings business will be launched
As the demand for pension reserves is diversified, correspondingly, the risk preferences covered by financial products should also be diversified, and not all of them are concentrated in medium and high risk preferences.
"my country is a big savings country with a relatively high savings rate. It should be in line with the public's saving habits, further enrich the supply of financial products for the elderly, and complement the financial products for the elderly," said Dong Ximiao.
The reporter visited a number of bank outlets in Beijing and found that investors still have high demand for deposits, a low-risk product.
Taking large-denomination certificates of deposit as an example, although its annual interest rate continues to decline, the one-year interest rate is only 2.1%, but it is not easy for investors to buy it successfully.
As of June 20, the Industrial and Commercial Bank of China showed that 3 of the 4 models of 3-year large-denomination certificates of deposit on sale had been sold out, and the remaining 1 model was only sold to new customers.
The launch of the "special pension savings business pilot" is precisely to meet the pension financial needs of people with low risk preferences.
"We are speeding up the research on the pilot project of specific pension savings business, and we are initially considering four large state-owned banks in industry, agriculture, China and Construction to carry out pilot projects in some cities." The person in charge of the large banking department of the China Banking and Insurance Regulatory Commission revealed at a press briefing held a few days ago, The business takes into account both inclusiveness and pension, the product has a relatively long term, stable income, and guaranteed principal and interest, which can meet the pension needs of residents with low risk preference.
Specifically, specific pension savings products include three types: lump-sum deposit and withdrawal, partial deposit and lump-sum withdrawal, and lump-sum deposit and zero-withdrawal. The product term is divided into four grades: 5 years, 10 years, 15 years and 20 years, and a single bank is initially considered. The scale of the pilot project is 10 billion yuan, and the pilot period is tentatively set for one year.
It can be expected that in the future, the pension finance business will gradually form a development pattern with the participation of multiple entities, the supply of multiple types of products, and the satisfaction of diverse needs.
The China Banking and Insurance Regulatory Commission also clearly stated in the "Notice on Regulating and Promoting the Development of Commercial Pension Finance Business" recently that it will support and encourage banking and insurance institutions to develop commercial pension savings, commercial pension wealth management, commercial pension insurance, commercial Pension and other pension financial services.
"But there is a bottom line. Commercial pension finance business must reflect the attributes of pensions, and the product period should meet the long-term pension needs and life cycle characteristics of investors. At the same time, corresponding binding requirements should be set on the collection of funds to avoid short-term 'quick-in and quick-out' '." The above-mentioned person in charge of the China Banking and Insurance Regulatory Commission said at the same time.