China Banking and Insurance News Report Highlights PICC Life’s “Personal Pension” Plan
In light of the rapidly aging population in China, “China Banking and Insurance News” recently published a special report on PICC Life’s “Personal Pension” plan, entitled “PICC Life, Facing the Long Years with You”. The report highlights PICC Life’s commitment to meeting the evolving needs of the public by optimizing pension services and offering a business model that combines insurance, pension health services, and technology.
The report underscores the urgent need for pension finance, in line with the focus of the Central Financial Work Conference, which identified pension finance as one of the five major areas to be addressed. The statistics from the “Statistical Bulletin on the Development of Civil Affairs in 2022” show the scale and rapid rate of aging in China, with the elderly population aged 60 and above reaching 280 million by the end of 2022, accounting for 19.8% of the total population.
The report also addresses the financial challenges faced by the elderly, including decreased income after retirement, increased medical expenses, and the scarcity of elderly care services. These challenges underscore the pressing need for comprehensive solutions to address issues related to retirement care.
To meet the demand for personal pensions, the government issued the “Opinions on Promoting the Development of Personal Pensions” in 2022, and the personal pension system was officially launched in 36 pioneer cities and regions. This launch has led to a flurry of activity among major banks, competing to offer personal pension accounts.
The report delves into the benefits of personal pensions, including tax incentives, long-term financial stability, and flexibility in account management. Furthermore, it provides an in-depth analysis of personal pension products by highlighting the advantages of PICC Life’s “Xinxiangjia Pension Insurance” and other offerings, all of which have been included in the national personal pension insurance product list.
In addition to personal pension products, the report emphasizes the importance of integrating health care services into retirement planning. PICC Life has developed a “heart-warming and happy” health and care brand that addresses the diverse needs of elderly care services, with a focus on both institutional and home-based care.
The report concludes by highlighting PICC Life’s commitment to building a senior care service ecosystem and protecting the quality of life of retirees through high-quality services. It also provides a warm reminder that the article is for promotional purposes only and encourages readers to refer to the product contract for complete terms and product protection interests.
This special report from “China Banking and Insurance News” sheds valuable light on the pressing need for comprehensive and integrated solutions to address the challenges of retirement care in China. PICC Life’s efforts to provide personalized and inclusive benefits through its “Personal Pension” plan and integrated health care services are a testament to the company’s commitment to meeting the long-term needs of the public.