Core Viewpoint - The intersection of the aging population and technological revolution is leading to a historic redefinition of the role of pensions, emphasizing the need for long-term investment strategies to support innovation and economic development [1][3]. Group 1: Aging Population and Pension Pressure - The proportion of the population aged 65 and above in China has reached 15.6% and is expected to rise to 26% by 2050, increasing the pressure on pensions to maintain value and growth [1]. - The acceleration of the aging process in China necessitates a focus on the preservation and appreciation of pension funds [3]. Group 2: Long-term Investment Opportunities - Pensions are designed for long-term stability and should not engage in short-term speculative investments; instead, they should act as long-term investors that support the real economy [3]. - The new technological revolution and industrial transformation present significant opportunities for pension funds to invest in strategic emerging industries such as artificial intelligence, new energy, and biomedicine [3][4]. Group 3: Financial Innovation and Technology - Rapid technological advancements are revitalizing capital markets and providing substantial returns for pension investments, necessitating the creation of suitable investment products for technology innovation [4]. - The historical relationship between technological revolutions and financial innovations suggests that pension funds can play a crucial role in supporting technological advancements [4]. Group 4: Long-term Assessment Mechanisms - There is a need for pension funds to establish long-term assessment mechanisms to align financial supply with technological demand, ensuring that they can act as capital engines for technological progress while also benefiting from excess returns [5][6]. - The transition from financial capital to strategic operational value is essential for pensions to effectively engage with intangible assets like data and algorithms [6]. Group 5: Market Ecosystem Support - The development of financial instruments that cater to long-term capital needs, such as long-term bonds and infrastructure REITs, is crucial for aligning with pension fund durations [7]. - Enhancing transparency and information disclosure standards for technology companies will improve market conditions for pension investments [7]. - Pension funds should be guided to invest in key areas such as technological innovation, advanced manufacturing, and green development to create a positive cycle of economic growth and pension value preservation [7].

长江养老表示，作为年金管理行业内对各管理机构进行评价考核最权威数据来源，《摘要》本次调整披 露口径，将引导各受托人、投管人乃至委托人改变以短期业绩为主的考核方式，逐步调整到更符合养老 金"长钱"特点的长周期考核，将为年金管理提供时间弹性，为跨周期资产配置提供较大空间，有效解决 年金长期资金属性和短期考核矛盾；有利于提高年金对市场波动的容忍度，引导加大对权益资产配置力 度，发挥年金对资本市场"压舱石"作用，让更多资金敢于进入股市，留在股市，服务资本市场，共同分 享经济发展带来的长期红利。(经济日报记者杨然) 近日，人社部公布的2025年一季度《全国企业年金基金业务数据摘要》显示，截止2025年一季度末，企 业年金基金积累达到3.73万亿元，近三年累计收益率为7.46%。长江养老保险股份有限公司表示，养老 金负债周期长、体量大、来源稳，要求长期稳健保值增值，具有长期投资的天然需求和与之适应的长周 期考核内在需要。本次《摘要》对收益率的披露首次采用了近三年累计收益率的口径，不再单独披露季 度收益率，有利于推动年金长周期考核。 本次公布的近三年(2022年4月1日—2025年3月31日)累计收益率为7.46%，年化平 ...