According to the official wechat of Xinhua pension insurance, on the afternoon of March 23, New China Life Insurance Company Ltd(601336) CEO and chairman of Xinhua pension insurance Li Quan said at the China UK pension conference that the development of China's third pillar is imminent and the market potential is huge. The deposits of Chinese residents have exceeded 90 trillion yuan, and the financial assets that can be converted into long-term pension funds are very considerable. The foundation and conditions for standardizing the development of the third pillar are relatively mature.
He believes that the payment of China's third pillar endowment insurance depends on individual voluntariness. In addition to the tax policy incentives provided by the government, increasing the attractiveness of the third pillar products is the key. The financial industry should establish a diversified supply pattern, provide different pension financial products on the basis of accurate segmentation of customer groups, and meet the differentiated needs of the third pillar products. "This means that our financial industry should also work hard to improve its pension management ability, enhance the attractiveness of products, and guide more and more people to carry out long-term Pension Reserves through the third pillar."
