Trust the new path of company pension financing. Abundant pension funds are an important guarantee for coping with aging.

At present, the elderly in Beijing still rely on social basic pensions as their main source of livelihood.

Although the state has increased the basic pension level of enterprise retirees for 10 consecutive years since 2000, its rate of increase has not kept up with the growth rate of the average salary of active employees.

The obvious result is that the average replacement rate of basic pensions has declined year by year, from 73.3% in 2001 to 48.3% in 2013 for 12 consecutive years. There is still a gap of at least 21.7% from the ideal replacement rate of 70%.

.

At the same time, the growth of enterprise annuities as the second pillar is slow, and the number of people it covers is still limited.

As of the first half of the year, nearly 75,000 companies have established enterprise annuities, with a cumulative fund scale of 671.4 billion yuan; the number of employees participating in enterprise annuities was 21.69 million, and the per capita savings were only 31,000 yuan.

In addition to the insurance industry, which has traditional advantages in pension insurance, many financial institutions such as funds and banks have also launched pension funds and pension financial management to target the "pension financial market."

However, more than 60% of global pension assets are independent trust assets.

As an important financial system and tool, trust should play an important role in the management of pension assets.

my country's trust industry needs to seize the opportunity, give full play to its own advantages, accelerate the development of the pension financial business, explore new profit growth points in the process of transformation and development, and lay the foundation for the future expansion of international social security funds and basic pension insurance fund investment businesses.

The trust company annuity business is in tatters. In recent years, with the innovative development of the trust business and limited by its own shortcomings, trust companies have gradually weakened the corporate annuity business, and some companies have even withdrawn from the annuity market.

When the first two batches of enterprise annuity fund management licenses were issued, many trust companies applied one after another and joined the fierce competition for licenses. In the end, four book trust companies, Huabao Trust, CITIC Trust, Zhongcheng Trust, and Shanghai International Trust, won 6

RBI qualifications.

Over the past few years, the corporate annuity market has continued to grow, but trust institutions involved in management have chosen to withdraw from the market.

Currently, only Huabao Trust is developing the enterprise annuity business with two qualifications: trustee and account manager. CITIC Trust has transferred its account manager qualifications to CITIC Bank and only retains its trustee qualifications. CITIC Trust will take over the trusteeship through equity participation

The trustee qualification was integrated into China Life Pension Company, and Shanghai International Trust took the initiative to no longer continue its trustee qualification.

This was accompanied by a further decline in the already low market share of trust companies.

Statistics from the regulatory department show that as of the end of June, Huabao Trust and CITIC Trust managed a total of 6.819 billion yuan, accounting for 1.7% of the legal person trust market share, while China Bao Trust accounted for 95.3%; Huabao Trust managed 193,000 personal accounts

, accounting for 0.9% of the total number of accounts managed.

In the same period last year, Hwabao Trust, CITIC Trust and Shanghai International Trust managed a total of 6.099 billion yuan, accounting for 1.9% of the legal person trust market share. Hwabao Trust and CITIC Trust managed a total of 263,000 personal accounts, accounting for 1.3% of the total number of accounts managed.

%.

Front-end centralized planning will be the main body of the incremental enterprise annuity market, and back-end pension products will help enterprise annuity investment enter a new era.

Insurance trustees and bank trustees have developed 37 collective plans, and 43 pension products are already in operation on the market.

Hwabao Trust and CITIC Trust have not developed enterprise annuity pool plans, and they do not have investment manager qualifications, so they are unable to develop pension products.

Trust Company’s pension finance is booming. While the corporate annuity business is being marginalized, Trust Company has expanded the scope of its pension products, developed pension and employee welfare management businesses, and launched quasi-annuity products. For example, Huabao Trust has launched “Free Life” and “Le Yi”.

"Life" and "Enjoy Life" salary and welfare trust business, Shanghai International Trust launched "Salary Power" employee benefits and incentive trust, providing enterprises and employees with pension plans, personal account management and information inquiry, asset preservation and appreciation, and client

Investment education and other services.

With the introduction of the new enterprise annuity investment policy, trust companies have entered the enterprise annuity investment market through pension products. For example, Changjiang Pension and Yingda Trust jointly launched the "Changjiang Pension Yingda Power Trust Pension Product", investing in Yingda Trust to promote enterprise annuity investment

A special trust plan established. This type of trust plan uses major power grid infrastructure construction projects as investment tools. HFT Fund and Kunlun Trust have jointly created the "Haifutong Kunlun Trust Pension Product", which mainly invests in the PetroChina pipeline issued by Kunlun Trust.

Project single trust.

In addition, China Railway Trust is exploring a new model of pension trust, which will change the original income-oriented trust product to a "cash income + pension service" model, which can enable high-end customers with pension needs to get generous returns.

At the same time, you can get more comfortable retirement living services.

Developing a new path for pension trusts At present, there are still very few companies involved in pension finance among the 68 trust companies in the world. As relevant policies become increasingly perfect and market demand continues to arise, more and more trust companies will participate in the pension finance business in the future.

The first is to develop personal pension trust products.