Core Viewpoint - The article emphasizes the urgent need to address the challenges posed by the aging population in China, highlighting the importance of developing a robust pension finance system to support individual and family financial resilience [1][2]. Summary by Sections Section on Pension Finance Policy Optimization - The development of China's pension system has primarily focused on the first and second pillars, with recent efforts to establish a third pillar through personal pensions to supplement retirement security [3]. - Current challenges include limited tax incentives and insufficient attractiveness of personal pension schemes, which are in the process of gradual improvement [3]. Section on Addressing Urban-Rural Disparities - Recommendations include reforming the household registration and land systems to reduce urban-rural disparities and enhance the pension levels for farmers [4]. - Emphasis on rural urbanization, professionalization of farmers, and agricultural industrialization to improve the basic pension security system [4]. Section on Meeting Public Demand for Pension Products - Financial institutions are encouraged to innovate pension products that genuinely meet public needs, ensuring stability and risk management [4][5]. - The design of pension products should prioritize simplicity, safety, and long-term viability, with a focus on user needs rather than solely institutional perspectives [6][8]. Section on Enhancing Public Awareness - There is a need to improve public awareness regarding pension planning, as many still rely on traditional family support systems [5]. - Regulatory bodies and industry associations should enhance pension education to increase acceptance of market-based pension solutions [5]. Section on Capital Market Development - A healthy capital market is essential for balancing the safety and returns of pension funds, with a focus on long-term investment strategies [10][11]. - The article suggests that increasing equity investments and alternative assets can enhance the value of pension funds, drawing on international experiences [11]. Section on Challenges in Pension Services - The current pension service system faces challenges in matching supply with the actual needs of the elderly, leading to dissatisfaction and high turnover in care facilities [12]. - Future reforms should focus on personalized service models and understanding the evolving demands of different generational cohorts [12][14]. Section on International Comparisons - Japan's long-term care insurance system serves as a model for sustainable pension service funding, highlighting the importance of shared financial responsibility [15]. - The article advocates for systemic innovations in payment systems and service delivery to create a multi-tiered pension service framework that meets diverse needs [15].