The personal pension system has its own focus on the fancy layout of the financial institution for three months

The "Opinions of the General Office of the State Council on Promoting the Development of Personal Pensions" (hereinafter referred to as "Opinions") has been landing for three months, and financial institutions have been the Nugget Personal Pension Market.

According to the reporter's understanding, many commercial banks have initiated related tasks such as the construction of the personal pension account management system; insurance companies have maintained attention to the field of pension; fund companies actively improve their product lines and establish a long -term assessment mechanism for managers; Basic work of software and hardware needed.

Dong Dengxin, director of the Institute of Finance and Securities of Wuhan University of Science and Technology, told a reporter from the Securities Daily that because the personal pension account is a long -term accumulated closed account, from the perspective of long -term investment value, it can be collected into a huge "fund pool", Then directly or indirectly transform into the most important long -term funding source of the capital market.

In addition, in addition to actively participating in financial institutions, it also has more expectations for policies including increasing tax benefits and expanding pilot scope.

The implementation rules have not yet been introduced

Under the financial institution, "first chess"

The "Opinions" clearly states that personal pension funds account funds can be used to purchase financial products such as bank wealth management, savings deposits, commercial pension insurance, and public funds.

Dong Dengxin said that since the "Opinions" was released, although the personal pension regulations and the implementation rules have not yet been issued, the national unified personal pension account preparation work is still being promoted, but various financial institutions have already laid out the operation.

Among them, commercial banks have abundant channels, and individual customer service points are multi -faceted. They occupy certain advantages in the construction of personal pension systems, account opening and services.

CITIC Bank is creating a "six support" service system for "one account, a product, one account, a set of services, a team, and a report". At the same time, actively prepare for multi -channel, multifunctional, multi -ecological personal pension account account. In addition, it will also be combined with authoritative institutions to train the certified professional pension financial planner team to provide customers with review and long -term investment companionship. The reporter learned from CITIC Bank on July 20 that pension financial planners will officially start this weekend.

"Guangfa Bank is preparing for product, system development, investor education, etc." The relevant person in charge of Guangfa Bank said that the current pension target fund of market head fund companies has been introduced, and mainstream pension insurance products have been introduced. At the same time, the bank is also building a pension fund account system. In the future, it can support customers to open a personal pension fund account through mobile banking, counter and other channels.

In order to further meet the diversified configuration needs of customers, commercial banks and insurance companies also cooperate. It is reported that Guangfa Bank is studying and exploring the introduction and promotion of commercial pensions with the China Life Capital Insurance Company, and jointly released a series of publicity of the "Early Planning Plan" to popularize the concept of pension planning to investors.

The relevant person in charge of a listed insurance company told reporters, "The company has a layout of the upstream and downstream of the pension industry. In terms of personal pension -related business, the specific advantages of insurance companies are reflected in: pension products are mainly seeking long -term stability, and the company is in the company. Long -term configuration and risk management are rich in experience, which can give relevant businesses value and benefits. "

In addition to banking and insurance, public funds are also important forces in the field of capital markets and pensions. On June 24th, the CSRC shall publicly solicit opinions from the society for the "Interim Provisions on Business Management of Public Pension Investment Public Investment Fund for Business Management (hereinafter referred to as the" Interim Regulations ") to the society. The product standard requirements and the entry threshold of fund sales agencies are clear.

In order to ensure the steady start of personal pension investment, the "Interim Provisions" states that during the trial stage of the personal pension system, it is planned to include priority to the pension target funds with a scale of not less than 50 million yuan at the end of the last four quarters. After the reporter's connection product meets the current conditions, the relevant fund companies have learned that the business preparations of each company are relatively well -prepared and have established a long -term assessment mechanism for managers.

As the first batch of pension target fund managers, China -EU Fund has laid out three products. According to the China -Europe Fund, "the company has set up the pension business department to specialize in the person in charge of personal pension -related investment research.

"Since the launch of the personal pension system, Haifu Tong Fund has been actively prepared from many aspects." Haifutong Fund introduced to reporters, for example, the company has actively developed funds including pension target funds and suitable for the need for personal pension needs. Products, planned to further improve the company's product line on the basis of the existing three pension target funds. At the same time, personal pension accounts and personal pension products are still a new field. The company has released multiple teaching products to strive to do a good job of investing in teaching services.

CITIC Promotion Pension Target Date 2035 Three Years (FOF) Fund Manager Li Zhengzheng told reporters that "CITIC Prudential Fund has deployed two pension target funds, which have operated for more than one year. In order to achieve the goal of steady value -added, the company in the system in the system Construction and personnel equipment are all working hard. For example, wealth for the pension FOF management system, improve the decision -making process of pension FOF investment, and establish a long cycle assessment mechanism for relevant managers. "

In 2019, the FOF Fund's Agricultural Bank of China Huili Fund began to set up two pension target products. The Agricultural Bank of China Huili Fund stated that "the company will make up for the risk of pension target risk and target date product, and is currently promoting the work of target risk -type pension FOF funds." The chief analyst of non -silver finance of open source securities is superb expectation that the follow -up system is comprehensive After pushing, it will be included in funds with good long -term performance and long -term investment in personal pensions. The competitive advantage of head fund companies with outstanding long -term yields may be stronger.

In addition, in order to ensure the long -term continuity and security stability of the personal pension fund sales business, the "Interim Provisions" requires that the fund sales institutions need to meet the size of the stock funds and hybrid funds in the last 4 quarters of the last four quarters. The size of the stock funds and hybrid funds held by investors is not less than 5 billion yuan.

The reporter's connection institution temporarily meets the "shortlisted" requirements that the company will rely on sales relationships, provide product evaluation, customer needs portrayal, and solution configuration services.

China Galaxy Securities is currently deploying the basic work of software and hardware needed for personal pension business in accordance with relevant requirements. According to the relevant person in charge of China Galaxy Securities, "At present, according to the long -term, stability, and safety of the company's pension planning, the company has designed a multi -level level , Diversifying and personalized pension configuration plans, actively fulfill the social responsibility of pension guarantee, and strive to provide residents with asset allocation services that meet and meet the needs of different pension needs for residents. "

Senior estimates that personal pensions have a limited impact on the incremental scale of the initial period of the channel, but personal pensions are long -term investment products, and customer stickiness is stronger. mechanism.

The layout of the institution has its own focus

Improve product line, upgrade investment advisory services

"Once the personal pension is implemented, it will become an important asset of family financial management. At present, there are as many as 700 million people who have the qualifications of personal pension accounts in my country. It is believed that in the next, financial institutions will focus more on the research and development and innovation of equity wealth management products or asset management products, and pay more attention to professional talent reserves, investor education and investment consulting business.

In addition to the relevant reserve work in advance, relevant financial institutions also focus on the next work plan.

Jingshun Great Wall Fund has set up three target date funds and 1 stable target risk fund, and another balanced target risk fund is being issued. Chen Wenyu, deputy general manager of the company, told the "Securities Daily" reporter, "In the future, the company will also deploy different target dates and risk -level pension target funds, so that investors with different ages and risk preferences can find products that suits them. At present, All the company's pension target funds are initiated funds, and the company invests its own funds as the establishment of the initiative. "

It will also work in terms of product layout. According to the China -Canada Fund, the company will actively deploy FOF products for five years on the basis of the release of 2 pension FOF products in order to provide customers with different risk -income retirement products, and to conduct all target customers at different stages of life. cover.

The Shanghai Investment Morgan Fund will fully integrate the global perspective and local insights. In terms of product design, investment research, customer service, etc., the strategy of mature pension is the pension. Internationalized pension solution.

Chen Wenyu also believes that efficient and inclusive investment consulting services are critical to the development of pension investment. The company has been approved to carry out fund investment consulting business, and has launched investment consulting portfolio on multiple platforms. In the future, the company will carry out the layout of investment consulting in accordance with customer pension needs, and gradually improve and enrich the content and capabilities of investment consulting services to provide customers with pension investment tools and investment consulting services.

The China -EU Fund will also make more attempts in the third pillar construction in the future. Its subsidiary China European wealth will further upgrade intelligent investment advisory services to help investors independently combine pension investment programs.

The reporter learned in the interview that some institutions are currently preparing for the war and wait for the policy rules to land in order to quickly participate.

The person in charge of the aforementioned listed insurance company said that the construction of the personal pension system from policy release to final landing needs a period of time. We look forward to more specific related supporting rules. "We always pay attention to such information. When you go to specific projects, develop related products as soon as possible. "

When investors consult Nanjing Securities on the exchange interactive platform, "whether to participate in personal pension financial products", Nanjing Securities replied that "the company will follow the regulatory requirements and actively participate in related businesses under the premise of eligible conditions."

The industry expects policy to reserve innovative space

Further expand the scope of the pilot

"The development space of China's pension market is large, and the thinking and long -term cultivation of customers, market entities, and policy makers are required." The relevant person in charge of AIA said to reporters.

In order to deeply participate in personal pension business, some financial institutions look forward to further clarification of policy.

ICBC's financial management stated that in terms of policies and regulations, it is hoped that the regulatory supporting policies will reserve space for innovation for different types of asset management institutions. At the same time, in terms of industry standards, the construction of a unified and standardized system is strengthened, and the main responsibilities of various participating institutions are compressed. "It is expected to further expand the pilot scope of pension wealth management and pension savings products to benefit more regions. At the same time, considering the differences in income levels in various regions across the country, it is recommended to adjust the annual deposit limit of personal pension accounts according to the average salary of various regions or dynamically. The people achieve more pension reserves and increase tax incentives. "The relevant person in charge of Guangfa Bank said.

In terms of fund companies, Li Zhan is looking forward to determining pilot areas as soon as possible and launching preferential tax policies as soon as possible. At the same time, the policy can be appropriately relaxed to the scale requirements for pension target products for medium -length period (more than three years).

Qin Xuan, manager of Qianhai Open Source Fund FOF Fund and Qianhai Kangyi Balanced Pension Three -year Fund Manager, said that we look forward to the details of the relevant departments that can improve the personal pension investment rules, especially the detailed tax preferences or tax deferred. Personal investment provides perfect policy guarantees.

Wang Xiaohui, Manager of Xingye Fund Xingye Pension 2035 Fund Manager, said that in terms of policy support, the first is that the supporting rules such as tax discounts can be implemented as soon as possible to promote the rapid development of personal pension business. Because this is about capital liquidity and personal participation.

In terms of securities firms, the relevant person in charge of China Galaxy Securities believes that my country's personal pensions are different from the situation of developed countries. They can learn less mature experience, so it is necessary to have its own innovative system or policy. Under the conditions of securities investment income tax exemption, financial income tax exemption, personal deposit interest tax exemption, and taxpayers who account for only 1/10 of the first pillar workers, it is very difficult to attract investors to enter the market through tax discounts and tax deferred. It is difficult to achieve inclusive effect. Therefore, it is expected to create a favorable environment for the development of the third pillar in terms of policy support. In addition, I hope to support securities companies as professional investment consultants at the policy level to provide investors with four types of pension products purchase channels.

Our reporter Chang Xueyu Yang Jie

- END -