在上海，离异独居、无儿无女、年近八旬的李女士将名下唯一住房"装"进了上海爱建信托有限责任公司 （以下简称"爱建信托"）设立的"心享"特殊需要服务信托，以租金补充养老金，百年之后房产将定向传 承给照料她的侄子。她的安心，缘于一项金融制度的破冰——不动产信托财产登记制度。这项制度的落 地为与李女士境况相似的人群提供了"以房养老"新路径。 当前，我国居民住房资产占家庭总资产比重过半，这本应是解决养老资金问题的重要资源。然而，反向 抵押贷款（倒按揭）等传统"以房养老"金融模式，因老年人担忧失去房产控制权、金融机构顾虑房价波 动风险，多年来推广效果不尽如人意。 如今，随着北京、上海、广州、厦门等地相继开展不动产信托财产登记试点，这一困局正在被打破。信 托公司作为专业管家，通过创新的不动产信托模式，正在将"沉睡的房产"转化为可持续的养老现金流， 这不仅成为金融业书写养老金融"大文章"的重要章节，更守护了"万家灯火"的养老期待。 制度破冰 以房养老破局 在人口老龄化加速背景下，老年人的养老需求日益迫切。手握房产类固定资产，但流动性资金却相对不 足是不少居民家庭面临的共同养老困境，如何盘活房产为养老资金"开源"成为亟待解决的 ...

Core Viewpoint - The pilot implementation of real estate trust registration in Shanghai marks an expansion of real estate trust applications into areas such as family wealth inheritance and special needs for the elderly, contributing to inclusive finance [1][3]. Group 1: Real Estate Trust Cases - Shanghai Trust's case focuses on urban middle-class families, addressing wealth inheritance and quality retirement needs by using a commercial property as trust assets, generating stable cash flow for the client's mother's pension, and ensuring property inheritance for the children [2]. - Aijian Trust's case serves the comprehensive needs of an elderly individual, where the client, a nearly 80-year-old divorced senior, entrusts their only home to a trust company, using rental income as retirement supplement while ensuring the property is inherited by their nephew [2]. Group 2: Trust Mechanism Advantages - Both clients recognize the unique advantages of the trust mechanism in addressing comprehensive family needs, particularly in asset isolation, wealth inheritance, retirement security, and child care compared to other financial tools [2][3]. Group 3: Government and Institutional Support - The simultaneous launch of the two real estate trust registration pilot cases reflects the close collaboration among government departments, regulatory agencies, and financial institutions to meet the actual needs of the public and promote high-quality transformation in the trust industry [3]. - Shanghai Trust has launched a series of innovative family service trusts, including the first real estate family service trust in the country, establishing a distinctive social service model in the fields of retirement and special needs trusts [3]. Group 4: Future Developments - Shanghai plans to continue deepening the real estate trust registration pilot work, enriching the application scenarios, and leveraging the advantages of the Pudong New Area to enhance the legal and regulatory framework, thereby promoting high-quality development in the trust industry [4].

Core Viewpoint - The "house for pension" insurance product by Xingfu Life serves as a bridge connecting housing and retirement, enhancing the quality of life and happiness for the elderly [1] Group 1: Business Overview - Xingfu Life has been operating the "house for pension" business for 10 years, providing a stable source of retirement income for elderly clients by utilizing their housing assets [1] - The innovative pension model revitalizes a niche market, offering new options for elderly individuals seeking a happy retirement [1] Group 2: Customer Testimonials - Wang Yan, an 80-year-old woman from Shanghai, began her "house for pension" journey in 2017, receiving over 8,000 yuan monthly, which alleviated her financial worries [2] - Zhang Xuemei, a 78-year-old living alone, signed her agreement in 2023, securing 7,000 yuan monthly in addition to her retirement pension, improving her quality of life and medical security [3] - Liu Peisheng, a 75-year-old man from Beijing, has been receiving 15,000 yuan monthly since December 2016, significantly enhancing his and his wife's living standards, allowing them to pursue hobbies and travel [4] Group 3: Product Development - Xingfu Life has launched the "house for pension 2.0" service, focusing on the core needs of the elderly, providing a threefold security system for home-based retirement and stable pension income [10] - The new model allows for customized pension planning and flexible options for pension disbursement, marking a significant upgrade in service experience [10]

Core Viewpoint - The article emphasizes the urgent need to address the challenges posed by an aging population, highlighting the importance of developing a robust pension finance system to support elderly care and financial security for future generations [1][2]. Group 1: Challenges Faced by the 70s and 80s Generations - The 70s and 80s generations are experiencing dual pressures from supporting their elderly parents while managing their own family financial burdens, often leading to increased economic and emotional stress [4]. - Many in this demographic face insufficient savings for retirement, with high housing costs consuming over 50% of their income, limiting their ability to save for elderly care [5]. - The reliance on children for support is diminishing due to the one-child policy and increasing economic pressures on the younger generation, exacerbating the long-term care risk for the elderly [5]. Group 2: Recommendations for Improving Pension Preparedness - There is a need to enhance personal savings awareness and action, particularly during the critical 40-50 age range, by participating in the "three pillars of pension" system [5]. - Families should optimize their financial structures to avoid excessive debt and incorporate retirement savings into their budgets [5]. - Health management should be prioritized to mitigate future medical expenses, emphasizing the importance of regular health check-ups and insurance [5]. Group 3: Enhancing Acceptance of Pension Financial Products - Strengthening policy guidance and incentive mechanisms is crucial for increasing participation in pension financial products, including tax benefits and subsidies for low-income groups [6]. - Financial institutions should tailor pension products to meet the specific needs of the 70s and 80s generations, offering diverse options that align with their financial situations and risk preferences [8]. Group 4: Demand and Misconceptions Regarding Pension Financial Products - Families primarily seek safety and stability in pension financial products, preferring low-risk options that ensure the security of their retirement funds [9]. - There are common misconceptions, such as neglecting personal needs and risk tolerance, leading to unsuitable product choices [10][11]. - A tendency to pursue high returns without understanding associated risks can result in poor investment decisions [12]. Group 5: Innovations in Pension Financial Products - The "reverse mortgage" model, allowing seniors to leverage their home equity for retirement income, is gaining traction but faces acceptance challenges due to traditional views on inheritance [18][20]. - The valuation of properties for reverse mortgages can be contentious, with both parties often at odds over property worth [21]. - Regulatory frameworks and public trust are essential for the successful implementation of reverse mortgage products, which currently face legal and operational hurdles in China [22][24]. Group 6: International Insights and Best Practices - Successful international models of reverse mortgages highlight the importance of government involvement and legal protections to foster market confidence [23]. - Public acceptance and understanding of reverse mortgage products are critical for their success, necessitating effective communication and education strategies [25]. - A mature industry ecosystem involving finance, real estate, and elder care services is vital for the sustainable development of reverse mortgage products [26].

以中央公积金为核心的三支柱体系。 新加坡的养老金体系采用"三支柱"模式，但三支柱规模分布极不平衡， 截至2024年3月，第一支柱占比超过九成，第二支柱占比不足1%，第三支柱占比8%。 1）第一支柱 以中央公 积金制度（CPF）为核心，是新加坡养老体系的主体，是一种完全积累型的强制性养老储蓄计划，企业和个人 共同缴费。公积金账户分为普通账户、特别账户、保健储蓄账户和退休账户等，涵盖养老、医疗、购房等多方 面保障。 2）第二支柱 包括两项特定职业的养老金，一是针对政府公务人员的民政事务-投资计划，二是针对 军人的雇员储蓄退休及保费基金。 3）第三支柱 为个人养老金计划，包括中央公积金投资计划（第一支柱中央 公积金的子计划）以及补充养老金计划。 新加坡养老金都投些什么？ 1）第一支柱 中央公积金资金基本都投资于新加坡政府为了保证中央公积金收 益特地发行和担保的非流动债券，投资于政府特别债券的中央公积金份额首先作为政府存款存入新加坡金 融管理局，然后定期转移到新加坡政府投资管理公司（GIC）进行长期投资管理。截至2024年3月末，GIC 将39%的资金投资于债券和现金，30%的资金配置股票，18%的资金配置于私募股权 ...