On December 23, with the theme of “exploring the road of high-quality development of the third pillar individual pension system”, the forum of China’s health and pension industry in 2021 was held at the China Financial Information Center in Shanghai Lujiazui Finance & Trade Zone Development Co.Ltd(600663) Shanghai.
Professor Zhong Renyao, director of the public policy research center of East China Normal University, said that individual pension is an important part of the whole pension system. Although China has attached great importance to the development of individual pension system, it has been practiced for a short time and still faces many difficulties.
How should China develop the individual pension system in the future? Zhong Renyao believes that first, in terms of institutional positioning and objectives, we should highly understand that individual pensions only play a supplementary and auxiliary role in the multi pillar pension system. Expanding and strengthening individual pensions requires the linkage and mutual cooperation of the government, individuals and insurance companies; Second, we should raise the level of middle and low income, which is not only the objective condition for the development of individual pension, but also the core issue of the development of individual pension; Third, we should enhance individual willingness to participate in insurance and make consumers aware of the importance of the third pillar pension to themselves by increasing publicity and education for young people; Fourth, we should create a good market operation environment.
Yu Wei, global partner of Mercer and general manager of Mercer Daxin employee welfare China, said that in order to develop the third pillar personal pension system, from the policy level, we should increase tax incentives, expand the coverage of cities and increase policy flexibility; From the market level, we should grasp the three key points of product design, investment and publicity.
According to Professor Feng Jin, director of the Department of public economics of the school of economics of Fudan University, voluntariness, tax preference and multi-party cooperation are the policy points of the third pillar of national construction. Insurance companies, investment companies and commercial banks should jointly provide products aimed at providing for the aged.
(Shanghai Securities News · China Securities Network)
