On the afternoon of March 2, the Information Office of the State Council held a press conference on “promoting a virtuous cycle of economy and finance and high-quality development”. Guo Shuqing, chairman of China Banking and Insurance Regulatory Commission, pointed out at the meeting that we will continue to standardize the development of the third pillar endowment insurance and steadily promote the development of multi-level and multi pillar endowment insurance system As a representative of the insurance industry, Bai Tao, Secretary of the Party committee of China Life Insurance Company Limited(601628) group, introduced the important role of insurance in the national economy and people’s livelihood such as the social security system at the press conference.
Social security involves thousands of families, is related to the well-being of people’s livelihood, and is also related to the long-term stability of the country. In December 2021, the State Council officially issued the national planning system for the development of aging undertakings and elderly care services during the 14th Five Year Plan period, making specific arrangements and arrangements for promoting the coordinated development of aging undertakings and industries. Bai Tao said that for a long time, China Life Insurance Company Limited(601628) thoroughly implemented the decision-making and deployment of the CPC Central Committee, adhered to the return to social security in accordance with the work requirements of the CBRC, and participated in the construction of the social security system at all levels.
At present, China is accelerating the construction of the “three pillars” system of old-age security, which fully covers the first pillar of basic old-age insurance, the second pillar of enterprise annuity and occupational annuity, and the third pillar of all kinds of old-age financial products voluntarily purchased by individuals.
According to Bai Tao, China Life Insurance Company Limited(601628) give full play to its comprehensive financial advantages and actively participate in the construction of the “three pillars” old-age security system. In terms of the first pillar, China Life Insurance Company Limited(601628) endowment insurance company has specialized in operation for more than 15 years, accumulated rich professional management experience, and managed nearly 30 billion yuan of social security fund. In the second pillar, China Life Insurance Company Limited(601628) pension insurance company provides the whole process of enterprise annuity and occupational annuity management services to maintain and increase the value of customers’ pension funds. At present, the pension scale of enterprises and institutions is about 1.2 trillion yuan, provides occupational annuity management services for 32 overall planning areas, and serves nearly 30000 enterprise annuity customers. In the third pillar, China Life Insurance Company Limited(601628) life insurance company actively carried out long-term care insurance to protect more than 23 million people; It has underwritten more than 52 million insurance businesses with pension attributes, and the accumulated reserve is about 1.7 trillion yuan, providing financial reserves for the pension of our customers.
In addition, China Life Insurance Company Limited(601628) life insurance companies are the first batch of institutions to participate in the pilot of exclusive commercial endowment insurance and tax deferred endowment insurance of the CBRC. In Chongqing, the pilot city, about 70% of the company’s exclusive commercial endowment insurance insured customers of “Guoshou xinxiangbao” are new business personnel such as couriers and online car Hailing drivers, which has accumulated experience to meet the financial needs of a wider population for the elderly. At the same time, pension insurance companies have actively participated in the construction of individual commercial pension of CBRC and individual tax deferred pension account system of the Ministry of human resources and social security.
Bai Tao mentioned that China Life Insurance Company Limited(601628) around the demand of Lbx Pharmacy Chain Joint Stock Company(603883) pension, set up a 20 billion yuan pension fund, invested in commercial pension projects in South China, East China, North China, southwest and other places, and provided multi-level pension services such as institutional pension, community pension and home-based pension. At the same time, China Life Insurance Company Limited(601628) also set up a 50 billion yuan health fund focusing on the needs of health management. At present, 40 medical and health enterprises have been invested to integrate health management, medical and pharmaceutical hospitals and other service resources to better meet the needs of people’s health management.
