Core Viewpoint - The forum highlighted the importance of commercial annuities as a crucial pillar in building an asset-based pension system in China, as emphasized by Zhu Junsheng, a professor from Tsinghua University [3][8]. Group 1: Commercial Annuities - Commercial annuities are positioned as an essential component of the national pension financial system, with specific focus on product structure, core functions, and product forms [3][8]. - The development of commercial annuities was initiated by the National Financial Regulatory Administration in October last year, in the context of personal pension development [3][8]. Group 2: Strategies for Pension System Improvement - The first strategy is to promote life annuitization to manage longevity risk, which is a certainty for society but uncertain for individuals. This requires enhancing infrastructure and accumulating high-quality longevity risk data [4][9]. - The second strategy involves expanding commercial pension pilot programs into regular practices to stimulate market vitality [5][10]. - The third strategy focuses on diversifying product offerings, addressing issues such as product structure uniformity and insufficient unique protections by developing competitive products like floating yield, cross-border investment, and health management integrated products [5][10]. - The fourth strategy aims to increase the yield of long-term pension funds to secure future pension goals, suggesting the relaxation of investment tools for domestic and foreign assets [5][10]. - The fifth strategy emphasizes the need to cultivate professional pension financial planning talent and enhance service capabilities, addressing the challenge of human nature's short-term focus in long-term pension planning [5][10].