Since the pilot of pension financing was expanded from "four places and four institutions" to "ten places and ten institutions" in February this year, pension financing products have entered the normal issuance stage. Recently, the second batch of pension financial products of pilot institutions were launched in batches. According to the data of China wealth management network, as of August 4, the six major bank wealth management subsidiaries of China Merchants Bank, CCB wealth management, ICBC wealth management, Everbright wealth management, BlackRock CCB wealth management and China Post wealth management have issued 33 pension wealth management products, of which 24 are fixed income products and 9 are mixed products. The overall performance of the 33 products is more stable than that of ordinary financial products. At present, the net value of all issued products remains above 1. Since the beginning of this year, the landmark events of establishing the third pillar of the national endowment insurance system have occurred frequently, and how the financial living water can meet the needs of the elderly is being concerned by all parties. The pension financial products of the second batch of pilot institutions with an average subscription of 259700 yuan per household still mainly feature long-term (starting from five years), stable (mostly R2), low rate (0 subscription fee, 0-0.01% sales service fee, and management fee as low as 0.1% / year), multiple risk protection mechanisms (including the introduction of smoothing funds, risk reserves, impairment reserves, etc.), and support for early redemption mechanisms (generally for suffering from major diseases and housing demand). On August 4, the first product issued by the second batch of shortlisted pension financing pilot institutions - "China Post Financial and postal bank wealth Tianyi Hongjin closed series (phase 1, 2022)" announced that the accumulated subscription amount was 3 billion yuan, and the raising was completed in advance less than two days after the launch. At present, China Post Financial Management is preparing for the second phase of products. This "good start" performance also verified the accurate positioning of postal savings bank on the target customer group of pension financing, and the channel advantages should not be underestimated. After that, BOCOM financial announced that it would sell its first pension financial product - "bocom financial stable enjoy Tianfu 5-year closed No. 1 pension financial product" through bocom mobile banking and pilot regional outlets on August 8. What is special is that the product information recorded on China wealth management website shows that the risk level of this product is R3, which is higher than that of most pension wealth management products at present; The performance comparison benchmark is 5% - 7%, which is not in a high range compared with the products of the same industry. In fact, as early as the beginning of the pilot expansion, the newly selected bocom wealth management disclosed the new product design scheme, stating that it would provide differentiated products according to the characteristics of the "old" and "not old" customer groups, while taking into account the long-term, robustness, and inclusiveness. According to the reporter of the securities times, the pension financing products of Bank of China will also be issued in the near future. Liang Tao, vice chairman of China Banking and Insurance Regulatory Commission, revealed at the "2022 Qingdao · China wealth forum" held a few days ago that as of the end of July, 231000 investors had subscribed for pension financial products totaling more than 60 billion yuan. "The overall start is good and the progress is smooth. The next step will be to further expand the scope of pilot projects in due time on the basis of full summary." Liang Tao said. 231000 investors subscribed for more than 60 billion yuan of old-age financial products, which means that the average subscription amount of the issued old-age financial products reached 259700 yuan. This shows the market's support for pension financial products