The China Banking Regulatory Commission and the People's Bank of China issued the "Notice on Carrying out the Pilot Work of Specific Pension Savings"

In order to implement the decision -making and deployment of the Party Central Committee and the State Council on regulating the development of the third pillar pension insurance, accelerate the development of commercial pension financial business, further enrich the supply of pension financial products, and meet the diverse pension needs of the people. Recently, the China Banking Regulatory Commission and the People's Bank of China jointly jointly jointly The "Notice on Carrying out the Pilot Work of Specific Pension Savings" (hereinafter referred to as the "Notice") was issued, and a pilot pilot pilot was launched.

The "Notice" states that the four large banks of Gong, Nong, China, and Jianjian will conduct a pilot of specific pension savings in five cities in Hefei, Guangzhou, Chengdu, Xi'an, and Qingdao. One year. Specific pension savings products include three types: rectification, zero deposit, and rectification. The product period is divided into 5 years, 10, 15 years, and 20 years. Time deposit interest rate. The principal of the deposit of a special pilot savings product in a single pilot bank is 500,000 yuan. Given that the renovation of the pilot banking system takes a certain time, the start time of the pilot is around November 2022. The "Notice" requires the pilot bank to do a good job in product design, internal control, risk management and consumer protection to ensure the steady operation of specific pension savings business.

In the next step, the China Banking Regulatory Commission and the People's Bank of China will closely track the pilot pilot of specific pension savings, strengthen supervision and management, ensure the safe and stable development of the pilot, and effectively safeguard the legitimate rights and interests of consumers. At the same time, summarize the evaluation pilot situation in a timely manner, study and promote pilot experience in a timely manner, and promote the construction of multi -level and multi -pillar pension insurance system for commercial banks.

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