Recently, the State Administration of Financial Regulation issued a notice on promoting the development of exclusive commercial pension insurance, clarifying relevant business requirements and further expanding the scope of institutions operating exclusive commercial pension insurance business. Exclusive commercial pension insurance is an insurance product that has long-term locked in funds and is specifically used for personal pension security. It has the characteristics of simple insurance, flexible payment, and stable returns, providing new choices for the people to accumulate "pension money" in the long term. Since June 2021, the pilot scope of exclusive commercial pension insurance has gradually expanded from Zhejiang Province and Chongqing City to the whole country, and the participating insurance companies have also gradually expanded. According to data from the State Administration of Financial Supervision and Administration, as of the end of September this year, there were a total of 637000 exclusive commercial pension insurance underwriting policies, with a cumulative premium of 8.16 billion yuan; Among them, there are approximately 79000 insurance policies for employees in new industries, new formats, and flexible employment. The Notice sets high requirements for the operating conditions of insurance companies. Insurance companies operating exclusive commercial pension insurance business should have strong comprehensive strength and carry out long-term and stable management of pension funds and risks. Developing exclusive commercial pension insurance business is an important part of improving the multi-level and multi pillar pension insurance system. Chen Hui, Director of the China Actuarial Science and Technology Laboratory at Central University of Finance and Economics, introduced that the main participants in the third pillar of pension insurance include commercial banks, wealth management companies, insurance companies, and public funds, with participation forms mainly including personal pension products and other personal commercial pension financing services. In other personal commercial pension finance businesses, the main ones currently include exclusive commercial pension insurance and pension annuity insurance operated by insurance companies, as well as pension target funds operated by fund companies. After the establishment of the personal pension system, commercial pension financial products operated by commercial banks, wealth management companies, and public funds were included in the category of personal pension products, leaving huge market space for insurance companies, "Chen Hui said. In terms of sales channels, the "Notice" allows insurance companies to entrust large banks, joint-stock banks, and urban commercial banks that operate personal pension services outside of traditional channels to promote and sell exclusive commercial pension insurance within their operating areas; At the same time, commercial banks entrusted by insurance companies to promote and sell through official online platforms should fully and objectively record key links such as marketing promotion, key information prompts, and policyholder confirmation presented on the sales page, meeting the requirements for traceable management of internet insurance sales behavior. Utilizing commercial banks and online sales can help insurance companies expand their premium scale and facilitate consumer participation. The person in charge of national pension insurance introduced that the company has collaborated with Tencent Weibo and WeChat Pay to launch the "WeChat Pension Insurance" service, and has opened a "National Pension Exclusive Commercial Pension Insurance" direct operating mini program in "WeChat Wallet". Since its official launch and sales in September this year, the National Common Wealth Exclusive Commercial Pension Insurance has been popular and heavily insured by flexible employees due to its flexible payment methods and multi-level payment amounts that can be set according to customers' income levels. The exclusive commercial pension insurance has shifted from pilot to normalized business, which will
Edit：GuoGuo Responsible editor：FangZhiYou
Source：people.cn
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