最高超4%、部分产品收益回升，专属商业养老保险成绩单出炉

Core Insights - The exclusive commercial pension insurance has shown competitive settlement interest rates for 2025, ranging from 0.75% to 4.02%, with most products exceeding 3% [1][3] - This insurance product is a crucial part of China's multi-tiered pension system, providing a significant supplement to residents' long-term retirement savings [1][8] - The demand for exclusive commercial pension insurance is increasing, particularly due to the aging population trend, indicating strong growth potential for this sector [1][8] Product Performance - A total of 37 exclusive commercial pension insurance products have disclosed their 2025 settlement interest rates, with the average rate for stable accounts at 3.2% and for aggressive accounts at 3.12% [3][6] - Most products have settlement interest rates above 3%, with 30 stable accounts and 34 aggressive accounts exceeding this threshold [3][6] - Some products, such as those from Guomin Pension and Xinhua Pension, have rates exceeding 4% [4][5] Investment Strategy - The steady returns of exclusive commercial pension insurance are attributed to rigorous investment strategies and unique policy positioning, utilizing a "fixed income base, equity enhancement" asset allocation model [5][7] - Insurance companies are focusing on long-term government bonds and high-grade credit bonds to secure stable returns, while also investing in high-dividend, low-volatility blue-chip stocks [5][7] - Active management capabilities of insurance companies have improved, allowing for dynamic adjustments in investment portfolios to capitalize on market opportunities [7][9] Market Trends - The exclusive commercial pension insurance has transitioned from a pilot program to a normalized business model, expanding its reach across the country [8] - Recent policies have favored the development of third-pillar pension insurance, encouraging the creation of products that align with personal pension systems [8][9] - To enhance market competitiveness, insurance companies are advised to improve investment management and service quality, innovate product designs, and expand sales channels [9][10]