put into action.

As of January 10, 2023, according to relevant information, it will be implemented in personal pension pioneer cities from January 1, 2022.

The implementation cities include: Nanjing, Beijing, Guangzhou, Changsha, Nanning, Guiyang, Hefei, Shanghai and other regions.

Personal pension refers to a system supported by government policies, voluntary participation by individuals, market-oriented operation, and realizing the supplementary function of pension insurance.

Personal pensions implement a personal account system, and the payment is entirely borne by the participants. They can independently choose to purchase financial products such as savings deposits, financial products, commercial pension insurance, and public funds that meet the regulations, implement full accumulation, and enjoy preferential tax policies in accordance with relevant national regulations.

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