保险行业研究：个人养老金迎全国推广，预计年缴存额有望超1500亿元

Investment Rating - The industry investment rating is maintained at "Overweight" [1] Core Insights - The implementation of the personal pension system is expanding from 36 cities to nationwide, effective December 15, 2024, allowing all workers participating in urban and rural basic pension insurance to join and enjoy tax benefits [1] - The variety of investment products is being optimized, with the inclusion of government bonds, specific pension savings, and index funds into the personal pension product range, which is expected to enhance the attractiveness of the personal pension system and increase participation willingness [1] - Management service levels are being improved, with simplified processes for purchasing commercial pension products through online accounts, likely leading to an increase in participation [1] - The conditions for accessing personal pensions have been expanded, allowing for earlier withdrawals under certain circumstances, which is anticipated to further encourage participation [1] - As of the end of 2023, the total amount deposited in personal pension accounts was approximately 28 billion yuan, with over 60 million accounts opened, although actual contribution rates and average savings remain low [1] - The expected annual contribution scale for personal pensions is projected to reach 156.3 billion yuan, based on the estimated participation of taxpayers with a higher tax rate [1]