Zhou Yanli, the former vice chairman of the China Insurance Regulatory Commission, said at the 2022 Tsinghua PBCSF Global Financial Forum on April 17 that my country’s financial regulatory authorities are studying the pilot program for retirement savings products and will steadily start the pilot work in due course.
He introduced that specific pension savings products can further enrich the supply of pension financial products and meet the diverse pension needs of the people. Specific pension savings products should be suitable for people with low risk preferences, fully reflect the attributes of pensions, with longer product terms, guaranteed principal and interest, and stable returns. Residents are encouraged to hold for a long time, and the deposit and withdrawal methods are flexible, which can meet the individualized and differentiated requirements of depositors. need.
He said,Insuranceindustry also has a footholdInsuranceProfessional advantages, actively implement the tasks of pension financial reform and development, focus on meeting the multi-level pension security needs of the people, deeply tap the market potential of the health care blue ocean, actively integrate into the health care industry, and give full play to theInsuranceFunction and role, build a health care ecological model with insurance as the core, and further play the role of commercial endowment insurance.
First, we must pay more attention to the role of the third pillar in promoting high-quality economic and social development. The development of the third pillar can enhance the sustainability and flexibility of the multi-level and multi-pillar old-age insurance system, effectively connect my country’s basic old-age insurance, and also help solve the old-age needs of small and medium-sized enterprises and flexible employees who are difficult to cover by the enterprise annuity system. question. In the top-level design, it is necessary to give full play to the function of commercial insurance.
The second is to clarify the development orientation of the third pillar. Based on the national conditions and focusing on the third pillar, it should develop in coordination with the first and second pillars, and it should be closely linked in terms of population coverage, preferential policies, fund management, fund collection, etc., and jointly establish an effective old-age insurance system with Chinese characteristics. Level and multi-pillar old-age security system level.
The third is to increase the support of fiscal and taxation policies. Considering that general financial products do not have risk protection and long-term receiving functions, special arrangements should be made for the tax deferral policy of commercial pension insurance. It is recommended to learn from the development experience of the third pillar in the United States to clarify that commercial pension insurance is a special pension with long-term security functions. For financial products, you can learn from the 401K model and list it as a separate category and give a higher tax deferred amount.
Fourth, deepen the structural reform of financial services for the elderly and promote the standardized development of the third pillar.This includes accelerating the study of unified financial service standards for the elderly, reflecting the characteristics of fund security, long-term investment, management effectiveness, and receiving constraints, accurately serving the needs of the elderly, and launching financial services.Insurance Products; Mobilize multi-subject capital to participate in pension financial services.
(Article source: ShanghaisecuritiesNewspaper Chinasecuritiesnetwork)