个人养老金基金“三年答卷”阅评：98%产品获正收益 公募担当居民“主动享老”重要支柱

Core Insights - The personal pension fund market in China has matured significantly since the implementation of the "Personal Pension Implementation Measures" nearly three years ago, showcasing improved performance and a diverse range of products [2][3]. Market Performance - As of September 28, 2023, there are 302 personal pension funds in the market, with 296 achieving positive returns, resulting in a positive return rate of 98.01%. The median return since inception for these funds is 14.05%, with 69.21% of products seeing net value increases exceeding 10% [3][4]. - The total scale of personal pension funds reached over 12 billion yuan by the end of Q2 2023, with a growth of over 3 billion yuan since the end of 2024. Approximately 97.73% of these funds have seen growth in scale, with 84.47% exceeding a 10% increase [4]. Professional Management - Public funds have managed over 6 trillion yuan in pension assets, establishing themselves as the largest asset management segment for public pensions in China. This scale reflects market recognition of their professional capabilities [5]. - Public funds have consistently delivered positive returns across various pension types, with the basic pension insurance fund achieving an average annual return of 5.15% since its investment operations began in 2016 [5]. Aging Population and Pension System - By the end of 2024, the population aged 60 and above in China is projected to reach 310 million, accounting for 22% of the total population. The current pension system heavily relies on the first pillar, with an average replacement rate of only 41%, significantly below the internationally recognized comfort line of 70% [7]. - The personal pension system, as the third pillar, is crucial for addressing pension shortfalls and promoting proactive retirement planning through individual contributions and market-driven operations [7]. Investment Strategy - Investors are encouraged to focus on long-term and stable value when participating in personal pension investments, emphasizing the importance of a "psychological account" dedicated to retirement funds [8].