个人养老金理财再扩容 中低风险产品成主流

Core Insights - The expansion of personal pension financial products is crucial for enhancing the attractiveness of personal pension accounts, with the total number of such products increasing to 37 as of August 2025 [1][2][3] Group 1: Product Expansion and Market Dynamics - The number of personal pension financial products has grown from 30 to 37, with a total scale exceeding 90 billion yuan by the end of 2024 [2] - The nationwide promotion of the personal pension system is expected to increase the potential target population from over 200 million to over 1 billion [2] - The current product offering is limited compared to other categories, with personal pension financial products being the least represented among savings, funds, insurance, and financial products [2][4] Group 2: Product Structure and Performance - The newly added personal pension financial products have a minimum holding period of 18 months and 2 years, with a risk level classified as medium-low [3] - Fixed-income products dominate the personal pension financial product landscape, accounting for the majority of offerings, with 22 out of 26 products being fixed-income by the end of 2024 [4] - The quarterly weighted return of personal pension financial products improved to 0.89% in Q2 2025, up from 0.29% in Q1 2025, indicating a recovery in performance [5] Group 3: Challenges and Future Outlook - Despite the performance improvement, there are challenges due to the rebound in the stock market, which may make fund products more attractive, necessitating a higher allocation to equity assets in financial products [5] - The overall scale of personal pension products remains small, with a significant reliance on savings and pension funds, indicating a need for structural optimization in product offerings [6][7] - The industry anticipates a new development phase for personal pensions, with calls for regulatory support to enhance product supply and flexibility in withdrawals for specific scenarios [7][8]