Although the risks of old-age wealth management products are generally lower than other wealth management products.

! But it still has the characteristics of financial management, and it does not break even.

! Investment still has certain risks.

. The first anniversary of the old-age financial management pilot has been completed. In September, 20021,China Banking Regulatory Commission issued the Notice on Piloting Pension Financial Products, and in February, 65438, ICBC Finance, CCB Finance, CMB Finance and China Everbright Finance released the first batch of four pension financial products. By February this year, the scope of the pilot was further expanded, and "four places and four institutes" were expanded to "ten places and ten institutes".

China has officially entered an aging society. According to the national census data in 2020, the population over 65 years old has accounted for 13.5%. Corresponding to the aging trend, the pressure of pension system and the demand for wealth management of residents have intensified. The third pillar position of individual-led pension has gradually become prominent, and the pilot project of pension financing came into being.

Since it was issued last year, the sales of the pilot pension products have performed well. According to the data of China Wealth Management Network, at present, 9 wealth management subsidiaries have issued 48 wealth management products for the aged, with a total fundraising scale of over 90 billion yuan, which has obvious characteristics of providing for the aged and benefiting the people in product design and charging. From the performance point of view, the pilot pension wealth management products are also relatively stable.

In just one year, the old-age financial management pilot has made progress from 0 to nearly 90 billion yuan, and the effect is far better than that of other old-age financial management products before. "The overall pilot of pension financing has started well and is progressing smoothly. On the basis of full summary, the next step will be to further expand the scope of the pilot in due course. " On July 30th, Liang Tao, vice chairman of China Banking Regulatory Commission, said.

Financial products for the aged can be regarded as an incision to observe the reform of the pension system and the ability of financial institutions. With the advent of an aging society, everyone is planning for providing for the aged. The development of commercial pension finance is not only a new business opportunity for banks and financial subsidiaries, but also involves the vital interests of thousands of pension investors in Qian Qian.

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Pension financing subscription fever

In September this year, after 80s, Xu Xin spent 200,000 yuan to buy a pilot pension wealth management product. She works in Beijing. At the end of last year, she paid attention to the issuance of the first batch of wealth management products for the elderly. Because Beijing was not a pilot city at that time, she could not buy it.

Since March this year, the pilot areas of pension financial products have been expanded to ten cities including Beijing, Shenyang, Changchun, Shanghai, Wuhan, Guangzhou, Chongqing, Chengdu, Qingdao and Shenzhen, and the number of pilot institutions has also increased to ten financial companies, namely ICBC, China Merchants Bank, China Everbright, China Construction Bank, Agricultural Bank of China, China Post, Bank of China, Bank of Communications, Xingyin and CITIC.

After many comparisons and consultation with the bank account manager, Xu Xin bought the pension financial products of a financial subsidiary of a joint-stock bank online. For Xu Xin, after the fluctuation of the capital market in the first half of the year, she paid more attention to the stability of wealth management products. She bought a closed-end net worth wealth management product with low risk level in R2, with a term of five years and a performance benchmark of 5.5% ~ 7.5%. "Compared with other wealth management products, the performance benchmark is higher and there are policy blessings, which are the main reasons for my choice."

With the support of policies and the positive attitude of banks and financial subsidiaries, the pilot project of endowment financial management has made rapid progress. According to the standard data of Puyi, as of June 9, 2022 10, 48 pension wealth management products have been successfully sold in the whole market, involving 9 wealth management companies (Yin Xin Wealth Management and Xingyin Wealth Management have not yet been issued), and the accumulated fundraising scale is about 95 billion yuan. In the third quarter of this year alone, 23 pension financial products were formally established, raising a total of more than 38 billion yuan.

Lin Qing, 43, began to make plans for the elderly last year. After buying two kinds of old-age insurance, she bought old-age financial management this year. She bought R2 products with a five-year closure period and a performance benchmark of 5.8% ~ 8%. Because the product can't be redeemed within five years under special circumstances, she adjusted the funds in her hand horizontally and took out a sum of money that would not be used in five years to buy pension financing.

"It was robbed when it was first released." Lin Qing said that she had lived in Shenzhen for a long time, and a long-time familiar account manager told her about the expansion of the pilot city, and then grabbed the first batch of local wealth management products. Due to the limited pilot quota, this product was raised before the release day 12, and the enthusiasm of investors around her made her once entangled in "whether to buy less".

An account manager of Chongqing Postal Savings Bank told China Newsweek that financial management for the elderly is "hot". After the pilot project in Chongqing, customers came to consult one after another, mostly over 50 years old, preferring long-term sound financial management. Compared with ordinary net worth wealth management, the trust in the pilot pension wealth management products is higher, and the funds that have not been used for a long time will be used to allocate pension wealth management.

From the perspective of buyers, the Banking Financial Registration and Custody Center disclosed that by the end of the first quarter of this year, investors aged 50 to 60 accounted for 28%, investors aged 40 to 50 accounted for 27%, and investors aged 30 to 40 accounted for nearly 20%, mostly middle-aged and elderly people.

China Post Wealth Management, a wealth management subsidiary of Postal Savings Bank, released its first wealth management product for the elderly in August this year, raising 3 billion yuan in 1 day. Since then, the second phase of 2 billion yuan pension financing has been completed ahead of schedule. The account manager mentioned above said that the date of the third issue has not been announced, but many customers already want to make an appointment.

The sales performance of pension financial products of financial subsidiaries is generally good. ICBC Financial Management is the first batch of pension financial management pilot institutions. In February of 2002 1 and1,ICBC Wealth Management officially released the "Xiang Antai" series of pension wealth management brands in Wuhan and Chengdu, with the initial fundraising scale exceeding 3 billion yuan. By mid-September, ICBC Wealth Management had issued 1 1 pension wealth management products to 10 pilot sites, which were subscribed by more than 80,000 customers, and the scale of fundraising exceeded13.5 billion yuan.

Everbright Financial Management is also the first pilot institution of pension financial products. The data shows that by the end of September, 2022, Everbright Financial has issued a series of products 10, raising over10 billion yuan and serving nearly 40,000 investors.

With the arrival of an aging society, everyone is planning for providing for the aged. The development of commercial pension finance is not only a new business incision for banks and financial subsidiaries, but also involves the vital interests of thousands of pension investors in Qian Qian. Vision china

Relatively stable, but not "guaranteed capital and interest"

Before the pilot pension financial products, there were already pension-themed financial products on the market. Yif Wang, chief analyst of the financial industry of Everbright Securities Research Institute, and others said in a recent study that there is no substantial difference between the previous pension theme financing and ordinary bank financing, except that the investment period has been lengthened, the product name has the word "pension", and the risk level is relatively low, which is still far from the long-term, inclusive and normative requirements needed to truly realize the pension function.

In contrast, the pilot pension financing has the characteristics of pension and inclusiveness in product design and management rate!