Original Title: Fierce Battle for Personal Pension Account Marketing
Securities Times reporter Liu Xiaoyou Trainee reporter Zhang Yanfen
After the “fancy storage” has gradually faded out of the market in the past two years, it has been a long time since I saw the scene of banks all vying for a certain asset.
Recently, the personal pension system, which has been brewing for a long time, has officially landed in 36 leading cities or regions, and the first batch of 23 account banks started. The circle of friends is full of people from the bank’s personal finance department and customer managers of branches and branches, “opening an account to get cash red envelopes”, “opening an account to get benefits”, “opening an account to get points” and other marketing.
A reporter from the Securities Times opened a personal pension account and transferred funds. The entire account opening process was relatively smooth. At present, there are only Y shares of the pension target fund and pension insurance products.
It is worth noting that there are two major features in the process of opening a personal pension account: first, it supports other banks’ customers to open an account together. The intensity of the competition; the second is that some banks have realized that the change wealth management can be directly transferred to the personal pension account without redemption, which shows that the pension business of the relevant account bank is breaking the silo from the inside.
For commercial banks, competing for personal pension accounts is only the first step. The further step is to step on the historical dividend of the formal opening of pension finance and take over residents’ old-age accounts.
Long time no see grand marketing
In the past two years, with the reduction of deposit interest rates and the recovery of residents’ willingness to save, the momentum of “fancy savings” that banks were keen on has weakened a lot. In the past two days, the employees of the bank’s personal finance department and the account managers of the branches have been trying their best to sell personal pension accounts, which is more vigorous than the previous “fancy savings”.
There is one personal pension account per person, and occupying it is equivalent to occupying the commanding heights of long-term funds.
“Recently, there are quite a lot of account openings, because the process is relatively simple, and there is no need to deposit money into it now, and then deposit it later when it is needed.” A financial manager of a joint-stock bank said.
In terms of front-end services, all online channels and service outlets of commercial banks, such as WeChat public accounts, small programs, and mobile APPs, are promoting personal pension finance, including knowledge popularization of personal pensions, account opening, payment and deposit, and many other services .
Various banks have launched various marketing activities one after another. Among them, the reward of opening a personal pension fund account and drawing red envelopes is the most attractive to customers.
E.g,Postal Savings BankThose who open a personal pension fund account for the first time can participate in the drawing of a 500 yuan red envelope, and have the opportunity to draw a mobile phone.China Merchants BankAccording to the statement, after opening a personal pension fund account, you can draw a red envelope of up to 288 yuan; after opening the account, you can get a red envelope of 10 yuan if you deposit 10 yuan; customers in non-pilot cities can also draw a lottery when they reserve a personal pension account, with a maximum of 66 yuan.In addition, inIndustrial BankOpening a personal pension fund account for the first time can randomly get a cash red envelope of 18.8 to 288 yuan.
Some banks have also introduced a number of rights and interests, such as extracting phone bills, WeChat instant gold reduction, and points. For example, China Guangfa Bank stated that if you open a personal pension fund account and deposit RMB 1,000 to RMB 12,000 during the event, you can receive a total of RMB 200 of Guangfa “Wonderful Club” member benefits. Customers can choose one of the four benefits of “WeChat Instant Cash Reduction”, “Life Welfare Voucher”, “Credit Card Repayment Voucher” and “Guangfa Mall Voucher”.Zheshang BankThe account opening “benefit” is that the first time you open a personal pension fund account, you can draw a minimum of 14,888 points and a maximum of 50,000 points. After opening an account, if the balance of the pension account reaches a certain standard, a maximum of 100,000 upgrade points can be obtained.
It is worth mentioning that the activities launched by many banks are not only aimed at customers in the bank, but also use the marketing method of “inviting friends and giving benefits” to attract customers through private domain fission. Taking Industrial Bank as an example, when most banks’ pension fund account appointment service is only for existing customers, Industrial Bank has also opened an appointment service in the WeChat applet to expand customers outside the bank. “You can log in without our bank card, and you can open an account by scanning it on WeChat.” An employee of Industrial Bank tweeted such a QR code picture in the circle of friends.
The practice of Industrial Bank is to successfully recommend 1 person, 6 people, 20 people, and 40 people, and the recommenders will have four levels of rewards: 20 yuan, 100 yuan, 300 yuan, and 800 yuan. After the referee completes the opening of the pension account, he can draw a call credit reward ranging from 20 yuan to 300 yuan. The referrer and the referee can be the same person, and the maximum reward is 1,100 yuan.
Bank of CommunicationsIt is said that if the number of friends who recommend the first opening of the Bank of Communications Pension Account reaches 1, 3, 5, 7, or 10, they will be rewarded with corresponding payment vouchers and coupons, and each recommender can receive a maximum of 280 yuan award. When the recommender opens a personal pension fund account for the first time, he can get a gift package of 58 yuan in payment subsidy coupons.
Highlight the internal strength of wealth management
The dispute over personal pension accounts of banks, the “benefits” and convenience of opening an account are just appearances, behind which are their technical capabilities and sales channel capabilities.
At present, residents’ awareness of pension security has been guided to an unprecedented height, the personal pension account system has been released, and supporting guidelines have been gradually implemented. Various asset management institutions are conducting beneficial explorations around long-term funds under the historic policy dividend. Which bank a customer chooses to open an account, transfer money, and invest in what product is behind the recognition of the bank’s comprehensive service capabilities.
Regardless of whether it is based on value investment or wealth management, pension finance means a huge increase to the market.
Taking personal pension accounts as an example, according to public data, as of the end of 2021, the number of employed people in my country is 746 million, of which 65 million people have reached the personal tax threshold (5,000 yuan). As long as 30% of these people participate in personal pension accounts (up to 12,000 yuan per household), then more than 230 billion yuan will be invested in tax-preferential pension products through personal pension accounts every year.
In the process of pension finance, banks play three roles—providers of pension savings deposit products, consignees of pension wealth management, commercial pension insurance and pension funds, and openers and managers of personal pension fund accounts. After opening an account, how investors choose products will test a bank’s internal strengths in wealth management, including user education and risk management.
Some time ago, the sharp drop in the bond market caused fluctuations in the net value of bank wealth management products, resulting in a large number of redemptions and other issues. Faced with a dazzling array of pension financial products, funds and insurance products, how to choose is a big topic.
The personal pension system is designed to help increase and maintain the value of personal assets, but under the premise of being responsible for its own profits and losses, what efforts should institutions and individuals make to choose products that suit them?
Lou Feipeng, a researcher at Postal Savings Bank of China, believes that current personal pension products include savings, wealth management, insurance, and fund products, and more products will be launched in the future, and different types of products have different characteristics. “For individual investors, they need to choose investment products according to their income level, expectations for old age and risk preference.”
Lou Feipeng believes that one should also consider one’s own age factor and adjust the investment structure. For example, you can allocate more equity products when you are young, and gradually increase the allocation of fixed-income products when you approach retirement age. Furthermore, personal pension products are relatively more stable, but they are not completely risk-free. We need to pay attention to product risks and personal risk preferences. The most important thing is that personal pension is a long-term investment, and investors must make long-term investments and pursue long-term returns.
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Responsible editor: Zhang Wen