Guangzhou and other places will carry out pilots of specific pension savings

According to Xinhua News Agency's "China Securities Journal" on the 30th, the article "The Four Characters will Carry out a Pilot of Specific Pension Savings". According to the article, the website of the Banking Insurance Regulatory Commission reported on July 29. The CBRC and the People's Bank of China jointly issued the "Notice on Carrying out the Pilot Work of Specific Pension Savings" to launch a pilot pilot of specific pension. From November 20th, four large banks of Gong, Nong, China, and Jianjian have launched a pilot pilot of specific pension savings in five cities in Hefei, Guangzhou, Chengdu, Xi'an, and Qingdao.

Experts believe that groups of pension savings products are suitable for low risk preferences, low liquidity requirements, and pursuit of fixed income, which is more in line with residents' long -term pension needs. The development of pilot savings pilots helps further enrich the supply of pension financial products.

From November 20th, pilots are piloted in the five places

The "Notice" proposes that starting from November 20, 2022, ICBC, Agricultural Bank, Bank of China, and Construction Bank have launched a pilot pilot of specific pension savings in Hefei, Guangzhou, Chengdu, Xi'an, Xi'an, and Qingdao. The pilot period is tentatively set for one year. During the pilot stage, the total scale of the special pension savings business of the single pilot bank is limited to less than 10 billion yuan.

People in the industry believe that there are many outlets of four large commercial banks, rich online and offline service channels, and huge existing customer groups. In the four major banks, the pilot savings pilots are the first to help better meet the demand for pension savings of residents.

Dong Ximiao, chief researcher at Zhailian Financial, said that pilot savings pilots will help further enrich the supply of pension financial products, and supplement it with pension wealth management products, pension insurance products and pension fund products. This pilot city covers East China, South China, North China and Southwest. On the basis of the pilot, the pilot experience should be summarized as soon as possible, the scale of the pilot product should be increased in a timely manner, and the pilot should be extended to other large banks and small and medium banks to better meet the public's demand for pension savings.

The product is divided into three types

The "Notice" clearly states that specific pension savings products include three types: rectification, zero deposit, and zero deposit. The product period is divided into 5 years, 10 years, 15 years, and 20 years. The listing interest rate of regular deposits in a five -year deposit in large banks. The principal of the deposit of a special pilot savings product in a single pilot bank is 500,000 yuan.

In terms of listing interest rates, taking Industrial and Commercial Bank of China as an example, the current 5 -year -old deposit and overall listing interest rate of the bank is 2.75 %.

In terms of product design, how to pricing for pension savings products has attracted much attention. Wang Yifeng, chief analyst of Everbright Securities Financial Industry, said that long -term pension savings have reduced the mismatch of the deposit and loan period, but because it is difficult to provide corresponding high -yield assets, it is expected that long -term pension savings interest rates are difficult to significantly improve.

"From the perspective of the product itself, the specific pension savings products launched this time have a long period of time and a moderate interest rate. They are suitable for groups with low risk preferences, low liquidity requirements, and pursuing fixed income, which is compatible with the long -term pension needs of residents." Dong Ximiao believes that the next step should be further enriched to pension savings products and optimize the structure of the deadline.

Effective prevention and control risk

In terms of pilot requirements, the "Notice" proposes that pilot banks should strictly follow the principles of "voluntary deposits, free withdrawal, deposit and interest, and keeping in confidentiality for households." Implement the requirements of savings business and personal account management, and handle specific pension savings business in accordance with laws and regulations.

Pilot banks should do a good job of management risk management of specific pension savings, fully evaluate risks and formulate risk disposal plans to effectively prevent and control risks. Do a good job of product propaganda and consumer education, improve the consumer complaint processing mechanism with territorial management and hierarchical responsibility, continuously improve the level of service, and safeguard the legitimate rights and interests of consumers.

In terms of supervision and management, the "Notice" pointed out that the pilot bank should formulate a pilot plan for specific pension savings, and it can be implemented after recognizing it with the approval of the Banking Regulatory Commission and the People's Bank of China. The pilot bank branch shall report to the pilot regional Banking Insurance Supervision Bureau and the People's Bank of China branches before applying for a specific pension savings business for the first time.

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