CCTV Beijing, November 11 (Voice of China reporter Tan Yao, Che Li, Yang Hailing, Jia Liliang) According to the China Central Radio and Television Voice of China's "News Vertical", more than 25 million people opened accounts and launched 4000 products, including 745 deposit products, 465 funds, 162 insurance products, and 99 wealth management products... This is the report card handed over on the first anniversary of the personal pension pilot. As an important institutional design of the "third pillar" of the pension insurance system, the personal pension system was officially implemented on November 19, 2022.
Over the past year, individual pension products have continued to be enriched, with obvious differences in risk characteristics, to meet the differentiated pension investment needs of participants. Judging from the situation of 36 pilot cities (regions), the overall personal pension system has a strong start and an orderly start. Are personal pensions attractive enough? What are the remaining problems in the pilot phase of the system?
At the beginning of the implementation of the personal pension, Mr. Li and his wife in Shijiazhuang opened a personal pension account in the mobile banking, and after carefully calculating the rate of return, they each purchased a personal pension account commercial pension insurance and other products according to the upper limit of 12000,<> yuan.
Mr. Li said: "I am 30 years old this year, retired at the age of 60, and have paid for 30 consecutive years, with a total principal of 36,3 yuan. According to the current investment in personal pension account exclusive insurance and other products, the expected rate of return can reach about 52%, according to this calculation, after retirement, my personal pension account will be about 16,460 yuan, <>,<> yuan more than the principal paid, equivalent to <> yuan more per month. ”
In the 36 pilot cities (regions), there are many young people like Mr. Li who plan their pensions in advance, and the personal pension system not only pays flexibly, but also enjoys tax incentives, and saves a pension money through advance planning to ensure better pension security and quality of life after retirement.
Data from a number of banks show that people in the age group of 30 to 50 are more enthusiastic about participating in the personal pension business.
Chen Meng, General Manager of the Personal Finance Department of the Agricultural Bank of China Tianjin Branch, said: "Nearly 20,<> people have chosen the Agricultural Bank of China as the personal pension account management bank, and the actual contribution rate has increased steadily. The long-term performance of the market of personal pension investment products is promising. ”
Liu Dong, deputy general manager of the personal digital finance department of the Hebei branch of the Bank of China, said that the enthusiasm of citizens to open accounts is high. "Citizens are increasingly feeling the superiority of this system, and more and more people are coming to consult on policies and handle business."
According to data from the Ministry of Human Resources and Social Security, as of the end of June this year, the number of people opening personal pension accounts in 6 pilot cities (regions) across the country reached 36.4030 million, doubling compared with 2022.1954 million at the end of <>. Zhang Shouhai, director of the pension insurance department of the Qingdao Municipal Human Resources and Social Security Bureau, said that the number of individual pension accounts is considerable.
Zhang Shouhai said: "As of the end of September this year, the number of people participating in the opening of personal pension accounts in Qingdao has reached 9.133 million, and the people's attention to the personal pension system is relatively high. After the end of the pilot period after the first anniversary, if it can be promoted throughout the country, everyone will be able to establish a personal pension, and the opening of personal pensions should have a greater increase. ”
According to the regulations, the funds in the personal pension fund account can independently choose to purchase personal pension products such as financial products, savings deposits, commercial pension insurance and public funds in accordance with the regulations. Up to now, financial institutions have launched a total of 745 products, including 465 deposit products, 162 funds, 99 insurance products and 19 wealth management products.
Lv Aiguo, deputy general manager of the pension business department of the Industrial and Commercial Bank of China, introduced: "The Industrial and Commercial Bank of China has launched specific pension savings products and pension wealth management products in the industry, and launched a variety of pension target funds and pension insurance. After the implementation of the personal pension system, it closely linked the product management institutions inside and outside the group, strictly controlled the product access threshold, and launched the first batch of personal pension products including savings, wealth management, funds, insurance, etc., to meet the personalized and diversified pension investment needs of customers. ”
Although the market is huge and the attention is quite high, the reporter learned in the pilot cities that the personal pension currently has the phenomenon of "hot account opening and cold investment" and "low willingness to deposit".
Mr. Shen, a citizen of Hangzhou, has opened a personal pension account for more than half a year, but he has not deposited money in the capital account. He has some concerns about the fact that funds in personal pension accounts usually need to wait until retirement to withdraw.
Mr. Shen said: "I feel that if I put money in the account, the liquidity of this money will be relatively poor, and the income from buying wealth management is average, because I am also relatively young, considering inflation, future returns from investment, and the flexibility of funds, etc., so I have not saved yet." ”
In addition, yields and tax incentives are also important factors affecting people's contributions. Zhang Guohua, deputy director of the Social Insurance Center of Dongying City, Shandong Province, said that personal pensions belong to the new system and new policies, and in the process of pilot promotion, there are still some units and the masses in a wait-and-see state.
Zhang Guohua said: "Judging from the existing participation situation, affected by the preferential tax policy, the middle class with stable income has become the backbone of personal pension insurance, and the proportion and amount of personal tax deferred reduction and exemption are small, covering fewer people, which is not conducive to the promotion of personal pensions." At the same time, some high-income participants reported that the upper limit of personal pension contributions was not high and the contributions were restricted. Personal pension insurance payment by the individual independent choice to purchase savings deposits, wealth management products, commercial pension insurance, public funds and other financial products, the current financial institutions on the line of related products, the rate of return is relatively low, affecting the enthusiasm of insurance payment. ”
Ren Lingjie, Deputy General Manager of the Personal Finance Business Department of Industrial and Commercial Bank of China Xiaoshan Branch, said: "Many customers are not clear about their personal pension retirement planning, and it is difficult to choose a plan in terms of reserve investment. Next, our bank will increase the publicity and promotion of the working people aged 30+ and with middle and high incomes. ”
The Central Financial Work Conference has clearly included "pension finance" in the "five articles", therefore, how to improve the enthusiasm of personal pension participation in the follow-up, especially how to promote the opening of the population to further pay and purchase pension financial products, has become an urgent problem to be solved.
Huang Tao, general manager of the National Pension Insurance Co., Ltd., believes that personal pension is a new thing, and there is indeed some room for improvement in related products. It is necessary to carefully polish the product, promote the reduction of transaction costs, and improve the expected rate of return of the product.
Huang Tao said: "As a practitioner, the first thing is to improve services, polish and upgrade products, and win the trust of the people for pension investment; The second is to reduce costs, so that the benefits of investment can be truly felt and enjoyed by the people, and I think some improvements can be made in the design of some processes and even some regulatory rules. ”
Dong Ximiao, chief researcher of Zhaolian Financial, said that in terms of preferential tax policies, it is also necessary to increase preferential measures to enhance the attractiveness and incentive role of the system.
Dong Ximiao said: "The next step should be to further optimize and adjust the personal pension system. The financial and taxation departments and financial management departments should adopt more supportive policies in terms of tax incentives and product access, for example, after the implementation of the tax deferral policy for personal pension products, the overall tax rate can be further reduced. ”
Zhang Guohua said that it is necessary to vigorously carry out the promotion of personal pension policies and actively cultivate the people's awareness of pension planning and pension savings. "Enhance the people's awareness and participation in personal pensions and commercial pension insurance, and help the people gradually establish the correct concept of 'long-term investment, long-term returns, value investment to create value, and prudent investment and reasonable returns'."