On April 21, the opinions on promoting the development of individual pension (hereinafter referred to as the opinions) was issued, which put forward relevant opinions from the aspects of system mode, participation scope, payment level, tax policy and individual pension investment, and established the basic institutional framework of China's third pillar pension insurance.
On the same day, Yi Huiman, chairman of the CSRC, presided over a symposium for the main principals of the national social security fund and some large banking and insurance institutions. The meeting proposed that pension, banking and insurance institutions and various asset management institutions are the representatives of professional institutions among investors and the most important long-term capital sources in the capital market.
In recent years, under the background of the increasing pressure of China's aging population, there has been a constant call to launch the personal pension system as soon as possible. The implementation of relevant systems is at the right time. This is an important measure to promote the construction of China's multi-level and multi pillar old-age insurance system and promote the sustainable development of the old-age insurance system. On the one hand, it gives individuals more full right of independent choice; On the other hand, it can better meet the growing diversified old-age insurance needs of the people.
The individual pension system is called the "third pillar" of the endowment insurance system. How to maintain and increase the value of individual pension through investment, so as to provide good capital supplement for Chinese residents' pension? The opinions clearly states that the funds in the personal pension fund account are used to purchase financial products such as bank financial management, savings deposits, commercial endowment insurance, public funds and so on, which can be selected by the participants.
Thus, the capital market plays an important role. The "selection" of public funds is expected. As a professional institutional investor with mature capital market, public funds are commendable in terms of investment performance. According to the statistics released by the CSRC, the number of investors served by public funds has exceeded 540 million, and the entrusted management of various pension assets has exceeded 4 trillion yuan. It has created good long-term income and accumulated rich management experience.
From a deeper level, based on the natural requirements of wealth management, as the "third pillar", personal pension has the characteristics of relatively long investment period, high security and robustness. It can provide long-term and stable funds for the capital market and promote the stable development of the capital market.
Judging from the judgment of all parties, the upper limit of participants' annual payment of personal pension is 12000 yuan. However, based on the wide population base of China that can participate in the personal pension system, and the upper limit of payment will be adjusted according to various factors in the future, it can be predicted that the capital scale of personal pension account is expected to exceed trillion yuan.
Next, all parties will steadily and orderly promote the implementation of relevant work, and open a new chapter of capital market services for the elderly.
