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Core Viewpoint - The Financial Regulatory Bureau has issued a notice to promote the sustainable and healthy development of pension financial products, expanding the pilot program nationwide for three years, with increased trial limits and a focus on enhancing the connection with personal pension systems [1][2]. Group 1: Pilot Program Expansion - The pilot program for pension financial products will now cover the entire country, with a trial period of three years [1]. - The number of pilot institutions has been expanded to include wealth management companies that have been operating for over three years and meet prudent management criteria [1]. - The trial limit has been raised to five times the net capital of each pilot institution after deducting risk capital, with adjustments possible based on prudent regulatory principles [1]. Group 2: Integration with Personal Pension Systems - The pilot program will align with the implementation scope of the personal pension system, allowing wealth management companies to participate in both pension financial products and personal pension management [2]. - New pension financial products can automatically be included in the personal pension product list [2]. - The initial pilot program began in September 2021 with four regions and four institutions, expanding to ten regions and ten institutions by early 2022 [2]. Group 3: Product Development and Investor Support - Institutions are encouraged to design long-term pension financial products, specifically those with a duration of over ten years or a minimum holding period of five years [4]. - Wealth management companies are supported in creating pension accounts for investors to track their holdings and assist in retirement planning [4]. - Companies are encouraged to provide pension advisory services while ensuring investor suitability and managing conflicts of interest [4]. Group 4: Risk Management and Regulatory Compliance - The notice emphasizes the establishment of a long-term assessment mechanism for pension financial products, incorporating long-term investment returns into the evaluation of investment and sales personnel [5]. - Other financial products cannot use the term "pension" in their names or sales documents to avoid confusion, making "pension" exclusive to related financial products [5].