The meaning of pension financial products: 1. Pension financial products refer to financial products suitable for the elderly. For bank financial products, the starting point of these products is at least 50,000, and then they can only be investors over 50 years old.

Only those who can purchase it, the return rate of pension-type financial products is relatively stable; 2. In addition, the pension-type financial products on Alipay include pension investment-type financial products and pension security-type financial products.

As the name suggests, investment-type pension products focus more on income; while protection-type financial products focus on personal protection.

The main contents recorded in the personal pension account: 1. The salary base for personal contributions; 2. All basic pension insurance premiums paid by the individual; 3. The portion of the pension insurance premiums paid by the employer that is credited in a certain proportion; 4. Personal account

Interest on the deposited amount; 5. The deemed payment period recognized according to policy regulations, that is, continuous service length.

The circumstances in which personal account funds are paid to the individual or his heirs: 1. When the individual reaches the legal retirement age and handles retirement, and the cumulative payment years (including the deemed payment years) are less than 15 years, the accumulated savings in his personal account will be paid to the individual in one lump sum

, and terminate the basic pension insurance relationship at the same time; 2. If an individual dies before retirement, the principal and interest of the personal contribution in the accumulated savings in his personal account will be paid to his legal heirs in one lump sum; 3. The individual does not meet the legal retirement conditions to go abroad or to Hong Kong,

For those who have settled in Macao and Taiwan, the principal and interest of the personal payment in the accumulated savings in their personal accounts will be paid to the individual in one go, and the basic pension insurance relationship will be terminated at the same time; 4. If a retiree dies, the remaining balance in the personal account savings that has not yet been collected will be paid to the individual in one go.

The balance of the payment part shall be paid to his legal heirs in one lump sum.

To sum up, China Merchants Bank’s “Zhaocaibao” personal pension product has a yield of around 4.5%, which is one of the products with the highest yield on the market.

Legal basis: Article 11 of the "Social Insurance Law of the People's Republic of China" stipulates that basic pension insurance shall be combined with social pooling and personal accounts.

The basic pension insurance fund is composed of employer and individual contributions as well as government subsidies.

Article 12 The employer shall pay basic pension insurance premiums in proportion to the total wages of its employees stipulated by the state and record them into the basic pension insurance overall fund.

Employees should pay basic pension insurance premiums in accordance with the proportion of their wages stipulated by the state and record them into their personal accounts.

Individual industrial and commercial households without employees, part-time employees who have not participated in basic pension insurance in the employer, and other flexible employment personnel who participate in basic pension insurance shall pay basic pension insurance premiums in accordance with national regulations and record them separately in the basic pension insurance pooling fund

and personal accounts.