Specific pension savings are piloted in five cities, analysts: symbolic significance is greater than actual effects

The pilot work of specific pension savings is about to start.

On July 29, 2022, the news released by the official website of the China Banking Regulatory Commission showed that recently, the China Banking Regulatory Commission and the People's Bank of China jointly issued the "Notice on Carrying out the Pilot Work of Specific Pension Savings" (hereinafter referred to as the "Notice").

The above -mentioned "Notice" clearly states that since November 20, 2022, four banks of ICBC, Agricultural Bank, Bank of China, and Construction Bank have launched a pilot work of specific pension savings in five cities in Hefei, Guangzhou, Chengdu, Xi'an, and Qingdao. The scale of the pilot of a single bank does not exceed 10 billion yuan, and the pilot period is tentative for 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.

Dong Ximiao, chief researcher at Zhailian Financial and part -time researcher at the Financial Research Institute of Fudan University, told the reporter of "Finance" that pilot savings pilot is based on Chinese public savings preference for innovative products and services, which helps to further enrich the supply of pension financial products, with pension wealth management products, pension -career, and pension -career. Insurance products and pension fund products are supplemented.

"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. It is suitable for those with low risk preferences, low liquidity requirements, and pursuing fixed income. Combining. "Dong Ximiao pointed out that next, we should further enrich the pension savings products and optimize the period structure. You can also take some temporary liquidity support measures. If you encounter the illness of the storage households, you can provide some services such as advanceding and deposit pledge to the storage households to better meet the diversified needs of the majority of users.

In fact, the China Banking Regulatory Commission has frequently made previews on pilot work of pension savings.

On March 2nd, Guo Shuqing, chairman of the China Banking Regulatory Commission, revealed at the press conference of the National New Office that the pilot work pilot work is about to start, and the commercial pension business facing low -income people is also being prepared. On March 4, the CBRC and the central bank issued the "Notice on Strengthening the Financial Services of New Citizens", which also mentioned that it supports commercial banks to study pension savings products and explore the pilot piloting of pension savings.

In recent years, as the aging process has accelerated, the regulatory authorities attach great importance to the supply of third -pillar pension financial products, and have enriched diverse pension financial services and products.

In June 2021, six large insurance companies officially carried out exclusive commercial pension insurance pilot work in Zhejiang and Chongqing. From March 1 this year, the pilot area of ​​exclusive commercial pension insurance expanded to the country.

According to data from the CBRC, as of the end of April this year, the total insurance insurance insurance policy for exclusive commercial pension insurance was 120,000, with a cumulative premium of nearly 900 million yuan. Among them, new industries and new industries such as courier and online car drivers have insured more than 15,000 people.

In September 2021, the pilot pilot of the elderly in the "four places and four institutions" (ICBC Financial Management in Wuhan and Chengdu, CCB Financial and China Merchants Financial Management in Shenzhen, Everbright Finance in Qingdao), and expanded the pilot scope in February this year To the "ten places and ten institutions" (pilot areas have expanded to ten places such as Beijing, Shenyang, and Changchun; pilot agencies have expanded to ten wealth management companies such as ICBC Financial Management, CCB Finance, and Xinyin Financial Management).

On April 15, 2022, the chief inspector of the Banking Insurance Regulatory Commission, director of the office, and the spokesman Dai Zhao revealed at the National New Office conference held on the same day that as of now, 16 pension wealth management products have been released smoothly, 165,000 Investors have subscribed for a total of about 42 billion yuan.

Compared with the above products, the pension savings as a special variety deposit, adding a principal and interest investment option to the low -risk preference customer base, but Wang Yifeng, chief analyst of the Everbright Securities Financial Industry Sexual meaning is greater than the actual effect, and the growth space of the product may not be large.

Wang Yifeng further pointed out that it is mainly because the banking system funds themselves have the characteristics of "borrowing short loans". The long -term pension savings reduce the mismatch of the deposit and loan period. The yield is also difficult to increase significantly; at the same time, compared with other pension products, pension financial management, pension target funds, and endowment insurance can have a more flexible allocation range to increase the income, especially the ratio of equity assets. Large.

"Combining with maturity experience, domestic market demand and development status, my country should give full play to the different market advantages of the banking system, insurance industry, and capital markets, strengthen industry collaboration and resource integration, explore new pension products and emerging pension models, create a cycle, and create a cycle, a cycle, and a cycle. Long -term and diversified asset allocation models and investment products. "Dong Ximiao said.

According to information on the official website of the Banking Insurance Regulatory Commission, in view of the time, the pilot banking system transformation takes a certain period of time, the start time of this specific pension savings pilot is around November 2022. At the same time, 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.

According to the CBRC and the central bank, the next step will be closely tracking the pilot pilot of specific pension savings, strengthening supervision and management, ensuring the safe and stable development of the pilot work, and effectively safeguarding the legitimate rights and interests of consumers.At the same time, summarize the evaluation pilot situation in a timely manner, study and promote the pilot experience in a timely manner, and promote the construction of commercial banks to better serve multi -level and multi -pillar pension insurance system construction.("Finance" magazine) Editor: Zheng Chuqiao

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