Heavy!Personal pension is good

The "third pillar" personal pension is getting close.

In April of this year, the General Office of the State Council issued the "Opinions on Promoting the Development of Personal Pension", which means that the top -level design of the "third pillar" of my country's pension finally landed.

On June 24th, the CSRC publicly solicited opinions on the "Interim Provisions on the Management of the Business Management of Public Pension Investment Public Fund Fund Business Management (Draft for Opinions)" to further refine the relevant institutional arrangements of the personal pension investment fund, personal pension and public offerings The docking work of the fund has entered the countdown stage.

According to reporters from the China Fund Daily, recently, many banks and fund companies are preparing for the "fast horse and whip" to prepare for pensions. Many banks may have completed the three -party testers that have completed the relevant system. At present participate. The fund industry is preparing for the implementation of personal pension business in various aspects such as products, systems, and vitality.

Industry insiders said that the large business space for personal pensions is also conducive to helping the people to improve the level of living after retirement. More importantly, it is expected that the scale of personal pensions in my country in 2035 may reach 12 trillion, and it will give the capital market at that time Bring a huge amount of long -term and stable allocation funds will improve A shares stability, helping the rights market and pensions to form a healthy interaction and achieve mutual achievements.

Many banks and funds participate in the test of personal pension systems

Personal pension policies have been accelerated this year, and the "third pillar" of the pension is ready to start, including banks and fund companies to participate in the preparation of various participants in the country, and do a systematic docking work for personal pensions to invest in public fundraising funds.

According to the Cathay Fund, according to the requirements of the "Interim Provisions on the Management of the Business Management of Public Pension Investment Public Investment Fund Business Management (Draft for Opinions)", China's settlement has established a new system for personal pension business -the fund industry platform, and the system will be the system. Commercial banks, agency and fund managers are connected.

According to the above -mentioned people, if individual participants want to purchase funds with personal pensions, they need to submit an account application to the platform through the sales agency or commercial banks. The fund manager needs to complete the relevant operations through the platform. The platform will record personal pension. The record of purchasing public funds in gold, and at the same time, personal pension accounts, personal pension funds accounts, and platform accounts are connected to interact in the system. Pay management, information query and other services.

At present, many commercial banks, bank wealth management, agency sales institutions, public funding funds and other institutions have begun to participate in the docking testing of personal pension information management service platform systems. Construction and other tasks are fully prepared for the business of personal pensions.

As an important party for Sifang joint testing, a number of fund companies are also carrying out system docking and testing. In the future, it will provide investors with information inquiry, fund redeemed, and online account opening of pension funds accounts for personal pension funds.

Hua'an Fund said that at the beginning of July this year, Huaan Fund completed the test of the personal pension interface specification of version 2.0. In early August, Zhongdeng Company released a new "3.0 Personal Pension Business Interface Specification". Hua'an Fund conducted the corresponding system modification. At present, the latest specifications have been supported. In the rosty test.

"As early as 2019, China Merchants Fund participated in the early plan construction and system docking test of Zhongdeng's personal pension industry. Since the beginning of this year, the industry docking platform has been upgraded, China Merchants Fund has completed the construction of pension business in the direct sales platform, and cooperated with multiple cooperation channels for personal pension business system testing.

The relevant person in charge of Guangfa Fund's pension financial business also said that the current Guangfa Fund is currently conducting corresponding system docking and testing. In his opinion, the personal pension investment fund has high business complexity and many participants. Therefore, the participating agencies are required to advance and cooperate closely in the system docking and joint testing links to jointly invest in personal pension funds.

However, some fund companies also revealed that the company also discussed systematic testing matters with system developers, and at the same time did preliminary training, but has not yet entered the test stage.

According to the Cathay Fund, in the current testing, we need to pay attention to the standardization, informatization, and professionalization of the system platform to meet the requirements of safety and stability. Convenient and fast service.

Actively promote the layout and investment and research of pension products

For a long time, the public fund industry has played the role of the main force in serving the marketization and professional investment operation of various types of pensions.

At present, the total scale of basic pensions, social security funds, corporate annuity, and occupational annuity that public fund management companies have been entrusted by management companies have made excellent contributions to pensions and appreciation. In recent years, the fund industry has also issued a number of pension target funds. It provides differentiated pension products in different life cycles and investors with different risk income preferences. Product investment management capabilities and compliance wind control levels. In the future, in terms of serving the third pillar of personal pensions, the public fund industry is also promising. According to the above -mentioned relevant person in charge of the GF Fund's pension financial business, in order to help personal pension business, Guangfa Fund continued to cultivate in many aspects of product layout, camp promotion, and investment in the pension target fund. "In terms of products, it has continued to improve the pension FOF product line. At present, 7 pension FOF products have been established, and more products are undergoing layout. Maintain close communication; finally, highly attach great importance to investor education. Since 2022, the "I and I pension" series of investment activities have been carried out around the theme of pension. Strengthen investors' understanding of such product risk characteristics and help investors choose the appropriate pension plan according to their own needs. "

Lu Jingzhang, director of the Investment Department of Hua'an Fund Group, told reporters that at present, Hua'an Fund has established many pension target funds products including Hua'an Pension target date 2030 and Hua'an Pension target date 2040.

In terms of investment and research, Hua'an Fund has actively created a systematic FOF investment management system. On the one hand, in -depth research on allocation strategies and fund selection, respectively. The risk -level pension target fund provides continuous and effective tactical tracking and variety renewal; on the other hand, the strategic allocation plan for multi -assets is optimized from the perspective of strategic allocation, improving the management requirements of risk control of the pension target funds, and a combination of income and net worth for combination and net worth The fluctuations have been further optimized to make the net worth of the product more stable, so that it can better enhance the customer experience, and it is easier to achieve long -term investment pensions.

In terms of products, China Merchants Fund has now deployed three public -funded pension FOF products. In terms of investment and research, it mainly focuses on the following three aspects: First, team construction, asset allocation and FOF Investment Department currently have initially established an investment and research team with perfect division of labor and rich experience in business; the second is the working model. Management model, fund managers and researchers participate in departmental asset allocation and fund research work together; third, improve the construction of institutional mechanisms, further clarify department and personnel responsibilities, further sort out and optimize the existing fund pool research evaluation rules and entry processes, broaden the fund to broaden the fund Variety of varieties and fund basic pools.

Cathay Fund said that Cathay Fund has issued a number of products such as Cathay Pacific Pension 2040 and Cathay Minze Balanced Pension Target for three years. In the future, the product layout will be accelerated. Especially in the two areas of target risk and target date layout. In addition, Cathay Fund's Fund Investment Consulting has also launched a portfolio of investment in different investment needs and risk preferences on multiple platforms. The Cathay FOF team attaches great importance to the importance of research, and has formed an investment -research framework and system combining macro, medium views, and micro -micro -compatibility in the department. The specific coverage areas include global assets, domestic macro and interest rates, A -share industry comparison, financial engineering research and development Research with fund.

According to the FOF Investment Department of Caitong Asset Management, Caitong Asset Management is vigorously deploying the pension investment sector, and plans to launch a series of pension target FOF funds, including target risk -type pension FOF for different risk preferences, investment at different retirement age stages The target date -type pension FOF designed by the person. At the same time, in terms of the construction of the investment and research team, Caitong Assets Management has focused on creating a professional investment team of investment and research integration. At present, there are more than 10 overall members of the team, and they will further expand in the future. The comprehensive period of core personnel exceeds 10 years.

It is reported that Chuangjinhexin Fund is currently steadily promoting personal pension business, including investment and research team reserves and asset screening system construction; in terms of products, actively deploy and develop target pension products.

Bank APPs have opened a personal pension page in the future. The future cooperation space is huge

At present, China Merchants Bank, CITIC Bank and many other banks have opened a special personal pension page on the APP, which has attracted market attention.

According to a reporter from the China Fund News, there are special columns of "First Pillar-Electronic Social Security Card", "Second Pillar-Enterprise annuity", and "third pillar-personal pension" on the CITIC Bank APP webpage. Later, some personal pensions introduced in description, including what is the details of personal pensions, participation conditions, participation methods, and investment scope, and finally appeared "to be launched, so stay tuned."

And China Merchants Bank also has a separate page of "read a article to understand personal pension". Among them, introducing personal pension accounts as policy support, which is used to accumulate personal pensions for a long time. Pensions in the account can enjoy tax benefits. The form of participation, the amount of payment, the scope of investment, and the method of receiving, and finally showed that "the personal application has not been opened for the time being, and the notice will be notified as soon as possible after opening." The Construction Bank also launched the interaction of "the big PK, can you realize the freedom of pension?" Click to enter the exclusive community of CCB's "Anxin You", and there are related calculations on the pension planning on the page.

Not only that, there are similar pages such as Industrial Bank and other banks, and some banks have set up "pension zones" in the APP.

In this regard, relevant persons of FOF Investment Department of Caitong Asset Management said that the account opening agencies of personal pension investment accounts in the future are mainly banks, and banks directly linked their personal salary income. The formula completes a series of personal pension investment plans such as account opening, investment, account management, and risk calculation through bank channels. In the future, in terms of personal pension investment cooperation with banks, fund companies must provide rich and professional pension public fund products, but also in terms of investment and teaching. Professional knowledge such as investor types is continuously exported to the public to enhance the people's awareness of pension.

The above -mentioned relevant persons of Chuangjin Hexin Fund also said that many banks have opened a special personal pension business area in the APP, which can provide one -stop personal pension accounts and fund account management for ordinary people. Investors who have educated in the elderly knowledge and answer the questions of ordinary people's people It has a positive role in other aspects. At the same time, the bank can better and conveniently meet the diversified pension needs of the people based on its own service and products. Significance.

"In the future, public fund companies will form a certain complementary advantage based on their own advantages and banks in the supply and investment management of pension products: banks have a wide range of customer base foundations and professional service teams, fund companies can output excellent investment management capabilities With product quality control services, the effective combination of the two can better help the people manage personal pension investment assets. " Cooperation in orientation.

Personal pension business space is huge

At present, the third pillar of personal pension business includes a variety of investment -based financial products, such as bank wealth management, pension insurance, public -funded pension FOF Fund, etc., banks, insurance, and public fund companies play an important role in product services and management. This business space is huge.

Relevant sources of Chuangjin Hexin Fund said that the official implementation of the personal pension system will alleviate the pressure of my country's social security and help the people to improve the living standards after retirement. At the same time, personal pension accounts can enjoy preferential tax policies. Personal pension accounts are in individuals in individuals There are multiple conveniences in equity, account management, and inquiry transactions.

The above -mentioned persons said that personal pensions refer to the policy of "personal tax deferred pension insurance" policy implementation tax incentives. If according to the current regulations, individuals can pay or invest 12,000 yuan each year. According to calculations, the tax exemption corresponding to the deduction amount of 12,000 yuan is probably about the tax exemption amount. Between 360 yuan and 5400 yuan.

More importantly, the above person believes that this business space is huge. First, according to estimates, the scale of personal pensions in my country in 2035 may reach 1.2 trillion, and it will bring a huge amount of long -term stable allocation funds to the capital market. Second, with reference to foreign countries, if my country's personal pension continues to enter the market, it will bring nearly 10 trillion yuan in incremental funds to my country's capital market. Third, in the long run, the proportion of equity asset allocation may increase to 40%. At present, my country's pension's allocation of equity assets is about 20%. With the entry of personal pensions, my country's target date of fund equity asset allocation will increase significantly. After the long -term entry into the market, personal pensions will improve A shares stability, helping the equity market and pension for the formation of benign interaction and mutual achievements.

Speaking of development space, FOF Investment Department of Caitong Asset Management also said that as of the end of 2021, the total scale of three households in China was 1.3.26 trillion, accounting for 11.63%of my country's GDP that year; compared with developed countries, the United States was taken as an example. At the end of 2021, the scale of three pillars in the United States was US $ 39.4 trillion, accounting for 171.33%of the GDP. The third pillar personal pension investment accounted for more than 35%of the pension system. The space is huge.

"In the early stage, due to the influence of institutional promotion, pilot cities restrictions, and personal participation in the upper limit, we believe that the number of individual elderly participants may be limited, but the subsequent scale is expected to gradually rise. Based on certain assumptions, roughly estimate the development of 5-10 years. Individual individuals The cumulative amount of pensions may reach a level of more than trillion yuan, and it has gradually become an important part of the Chinese pension system. "Lu Jingzhang, director of the Investment Department of Hua'an Fund Group, also said.

Cathay Fund also stated that "personal pension" is starting to start. As a public offering product at the beginning, the pension target fund can be expanded in market space, which can meet the pension investment needs of individual investors. The problem of "pension difficulties" brings solutions. As an important force in the domestic capital market, public funds should actively participate in the construction of pension systems to help realize the long -term steady value -added of pension assets. Multiple measures to promote the development of personal pension business

In order to better promote personal pension business, many people in the industry have made suggestions in multi -dimensional suggestions such as systems and vitality.

Relevant sources of Cathay Fund said that the first of which is the concept of pension investment in the public, and increasing the enthusiasm of individuals to participate in pension investment. Secondly, personal pension investment mainly attracts individual participants through tax discounts, but the tax bases in my country are not wide enough. How to further increase the coverage of personal pensions in the future is also a problem worth exploring.

"Third, the development of the second pillar of my country's pension is hindered, the transfer of corporate annuity accounts is difficult, and the flexible conversion between funds account is also a problem to be solved. The conversion problem allows the funds of the second pillar to be transferred to a personal account. The third pillar becomes an important way to exit for annuity, which will also help the development of pension finance. " Specific policies still need to be introduced. In terms of industry policy facilities and support, investor education in pension finance still needs to increase the education of different categories of accounts, and to refine the adaptive management rules for investors.

Lu Jingzhang, director of the Investment Department of Hua'an Fund Group, also designed for the system. It is recommended that moderately relaxing the size of the product and the requirements of the scale of personal pensions, so that more products can enter the white list of pension products as soon as possible to provide more suitable products Essence At the same time, further improve the performance comparison of the Pension Fund and the risk income forecast mechanism to help investors reasonably estimate the income range. It is recommended to learn from the absolute income as the benchmark for the performance of the elderly, to provide investors with the expectations of intuitive and reasonable investment income; at the same time, further extend the concept of income calculation of pension wealth management products, draw on the relevant logic of investment consulting on risk income predictions, and be investors for investors Carry out income calculations in different market environments, and further guide investors to establish reasonable product income expectations.

He also suggested that the investment consulting portfolio can join the pension target fund. At present, the investment advisor can only build a product portfolio that does not contain FOF, and it is impossible to recommend pension target funds to customers. In the personal pension account, the current public -funded products are only pension target funds. Adding pension target funds to the investment consulting service portfolio can further improve the popularity of individuals' investment in pension FOF, allow more people Investment.

The relevant persons of Chuanghexin Fund believe that the development of personal pension business is based on the framework of personal pension policy, and we look forward to more detailed rules. Second, various exhibition institutions can give play to their respective advantages, do a good job of functional positioning, complement their advantages, and jointly promote the healthy development of personal pension business. Third, various channels are based on customer base preferences and their respective advantages, and can match the target groups of various channels.

In addition, relevant persons from FOF Investment Department of Caitong Asset Management suggested that with the continuous development of personal pension business in the future, the coverage will become wider and wider. , High -quality professional pension investment varieties, such as the current and high -risk levels of public -funded pension FOF, the balance of high -risk levels, positive pension FOFs, target date pension FOF and other products give more policy benefits.

Source: China Fund News

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