基金行业话养老 | 养老不能只靠退休金，你的“第三支柱”搭好了吗？

Core Insights - The personal pension system in China, recognized as the "third pillar" of retirement planning, is gaining significant attention as it approaches its third anniversary, with over 70 million investors participating [1][3][4] Group 1: Importance of the Third Pillar - The basic pension system only provides a minimal safety net, necessitating a stronger third pillar for maintaining living standards in retirement [3][20] - The personal pension system was officially launched in November 2022 across 36 pilot cities, marking a significant step in enhancing individual retirement planning [3][18] Group 2: Structure of the Pension System - China's pension system consists of three pillars: 1. Basic pension insurance, which covers essential living needs but has a replacement rate of about 45% for urban employees, insufficient for quality living [20] 2. Enterprise annuities, which are under 20% coverage and not universally accessible [20] 3. Personal pensions, which allow individuals to voluntarily save for retirement beyond basic guarantees [20] Group 3: Growth and Market Potential - As of November 25, 2025, there are 1,245 personal pension products available, with over 72.79 million accounts opened and total contributions reaching several hundred billion yuan [21][22] - The U.S. Individual Retirement Account (IRA) serves as a model, with a total asset size of $13.9 trillion by the end of 2021, highlighting the potential for growth in China's personal pension market [22] Group 4: Unique Value Proposition - The personal pension system offers three unique benefits: 1. Tax incentives, allowing up to 12,000 yuan in contributions to be deducted from taxable income, potentially saving taxpayers up to 5,400 yuan annually [24] 2. Long-term investment benefits through compounding, as funds are generally not accessible before retirement [24] 3. Professional management of funds, with investments in regulated financial products, enhancing the efficiency of wealth accumulation [24][25] Group 5: Practical Steps for Investors - Investors can initiate their personal pension journey in three steps: 1. Open a personal pension account through a bank's mobile app or physical branch [26] 2. Contribute up to 12,000 yuan annually, either as a lump sum or through regular investments [27] 3. Choose suitable financial products based on individual risk tolerance and investment knowledge [28]