个人养老金，大消息！

Core Viewpoint - The recent policy from the China Securities Regulatory Commission (CSRC) allows target date funds that transition after maturity to remain in the personal pension product catalog, reflecting a commitment to the stability and continuity of personal pension services [2][4]. Group 1: Policy Announcement - The CSRC has clarified that target date funds included in the personal pension product catalog will retain their status even after transitioning to regular funds by the end of 2025 [4][5]. - As of now, 210 funds have been included in the personal pension product catalog, with 82 being target date funds [4]. Group 2: Rationale for the Decision - The decision is based on three main considerations: 1. The investment style and strategy of the transitioned funds remain stable and clear, aligning with the long-term investment goals of personal pensions [5]. 2. Retaining these funds in the catalog helps maintain business continuity and enhances the investment experience for pension investors [5]. 3. Target date funds are designed as lifecycle products, and their continued presence in the catalog aligns with their operational logic [5]. Group 3: Fund Transition Details - Four target date funds are set to transition by the end of 2025, with a combined scale of 344 million yuan and over 40,000 holders as of Q3 2025 [7]. - The transitioned funds will maintain a low-risk profile, consistent with their previous investment strategies, ensuring they meet the needs of retirees seeking asset preservation and stable cash flow [8][9]. Group 4: Impact on Investors - The policy enhances the predictability and stability of the personal pension system, encouraging long-term participation from investors and improving their overall experience [9]. - The regulatory framework aims to foster trust in the personal pension system, promoting its healthy and sustainable development [9].