【导读】国家金融监督管理总局办公厅发布关于促进养老理财业务持续健康发展的通知 中国基金报记者 张舟 事关 理财公司 服务养老产业发展重要文件来了！ 10月30日，国家金融监督管理总局办公厅 对外 发布关于促进养老理财业务持续健康发展的 通知。 该通知提出，支持理财公司在坚守职能定位、依法合规的前提下，以债券、股票、非标准化 债权类资产和衍生品等多种方式投资养老领域资产。养老理财产品试点地区扩大至全国，试 点期限三年。 对养老理财产品实施一定费率优 惠。鼓励试点理财公司发行10年期以上，或者 最短持有期5年以上等长期限养老理财产品。支持理财公司与信托公司、保险资产管理公司、 证券公司、公募基金等持牌资管机构在专户管理、运营托管、交易执行等方面依法开展合 作，实现优势互补，更好服务养老产业发展。 以下为重点内容： 1.养老理财产品试点地区扩大至全国，试点期限三年 稳步扩大养老理财产品试点，自本通知印发之日起，养老理财产品试点地区扩大至全国，试 点期限三年。 3. 对养老理财产品管理费、销售费和托管费等实施一定费率优惠 支持养老理财产品发行机构、销售机构和托管机构在商业可持续基础上，对养老理财产品管 理费、销售费和 ...

Core Viewpoint - The notice from the National Financial Supervision Administration aims to promote the sustainable and healthy development of pension financial products, expanding pilot areas nationwide and enhancing investment opportunities in the pension sector. Group 1: Expansion of Pilot Programs - The pilot areas for pension financial products will be expanded to the entire country, with a trial period of three years [4] - The total fundraising limit for a single financial company participating in the pilot will be increased to five times the net capital after deducting risk capital from the previous year's end balance [11] Group 2: Investment Strategies - Financial companies are supported to invest in pension-related assets through various means, including bonds, stocks, non-standardized debt assets, and derivatives, while adhering to compliance and functional positioning [5][9] - Encouragement for pilot financial companies to issue long-term pension financial products with a minimum holding period of five years or more, with additional regulatory benefits for those with a higher proportion of such products [6][12] Group 3: Fee Structure and Flexibility - Certain fee rate discounts will be implemented for management, sales, and custody fees of pension financial products, promoting commercial sustainability [6] - Pilot financial companies are encouraged to design flexible features for pension financial products, including aspects like purchase, redemption, and dividends, to better match individual investor needs [12] Group 4: Liquidity and Risk Management - Research will be conducted to establish mechanisms for the transfer and pledge of pension financial products to enhance liquidity for investors facing significant health issues [7] - A focus on strengthening risk management arrangements to protect investor rights and ensure smooth operation of transfer and pledge services [18] Group 5: Support for Specialized Departments - Financial companies that meet certain criteria are encouraged to explore the establishment of dedicated pension departments, enhancing investment management, risk control, and information systems [8][14] Group 6: Investment in Health and Elderly Industries - Increased funding support for investments in long-term quality assets that align with pension characteristics, including participation in major national projects [9][15] - Financial companies are encouraged to consider the risk-return characteristics of pension financial products in relation to investor risk preferences, aiming for a balance between economic and social benefits [15]

其中提出，多元化投资方式。支持理财公司在坚守职能定位、依法合规的前提下，以债券、股票、非标 准化债权类资产和衍生品等多种方式投资养老领域资产。 养老领域，大消息。 10月30日，国家金融监督管理总局办公厅印发关于促进养老理财业务持续健康发展的通知，其中提出， 稳步扩大养老理财产品试点，明确试点地区和期限。自本通知印发之日起，养老理财产品试点地区扩大 至全国，试点期限三年。 通知提出，丰富产品形态。鼓励试点理财公司发行10年期以上，或者最短持有期5年以上等长期限养老 理财产品。对10年期以上养老理财产品规模占比较高的试点理财公司，在监管评级中予以适当加分。支 持试点理财公司依法在养老理财产品购买、赎回、分红等方面进行灵活设计，更好匹配投资者个性化养 老需求。支持试点理财公司将养老理财产品收益领取与健康、养老照护等养老场景有机结合，为投资者 提供养老金融综合解决方案。支持试点理财公司研发符合个人养老金参加人的养老需求、具有长期限特 征且具有一定收益率的个人养老金理财产品。 其中提出，加大资金支持力度。支持理财公司投资与养老特征相匹配的长期优质资产，通过适当方式参 与投资国家重大工程和重大项目建设，加大对健康产业、 ...

新京报讯 10月30日，国家金融监督管理总局办公厅发布关于促进养老理财业务持续健康发展的通知， 全文如下： 各金融监管局，各理财公司及其控股股东，银行业理财登记托管中心： 为深入贯彻党的二十大和二十届历次全会精神、中央经济工作会议和中央金融工作会议决策部署，落实 《国务院办公厅关于发展银发经济增进老年人福祉的意见》（国办发〔2024〕1号）等要求，推动理财 公司扎实做好养老金融大文章，现就有关事项通知如下： 一、稳步扩大养老理财产品试点 （一）试点地区和期限。自本通知印发之日起，养老理财产品试点地区扩大至全国，试点期限三年。 （二）试点机构和额度。理财公司参与试点应当符合开业满三年、经营管理审慎、具备较强长期投资能 力和风险管理能力等审慎监管要求。单家理财公司养老理财产品募集资金总规模上限提高至该机构上年 末净资本扣除风险资本后余额的五倍，金融监管总局可以根据审慎监管原则进行调整。 （三）统筹养老理财产品试点和个人养老金理财业务。理财公司同时参与养老理财产品试点和个人养老 金理财业务的，该机构新发行的养老理财产品可以自动纳入个人养老金理财产品名单。 二、不断完善养老理财产品设计 （四）丰富产品形态。鼓励试点理 ...

Core Viewpoint - The National Financial Supervision Administration has issued a notice to promote the sustainable and healthy development of pension financial management, emphasizing diversified investment methods in the pension sector [1] Group 1 - The notice supports financial management companies to invest in pension-related assets through various means, including bonds, stocks, non-standardized debt assets, and derivatives [1]

Core Viewpoint - The National Financial Supervision Administration has issued a notice to promote the sustainable and healthy development of pension financial products, emphasizing increased funding support for long-term quality assets that match pension characteristics [1] Group 1: Funding Support - The notice calls for enhanced funding support for financial companies to invest in long-term quality assets that align with pension characteristics [1] - Financial companies are encouraged to participate in the investment of major national projects and infrastructure [1] Group 2: Industry Focus - There is a specific emphasis on increasing support for the health industry, pension industry, and silver economy [1] - Financial companies should consider the risk-return characteristics of the assets in pension financial products while aligning with investors' risk preferences [1] Group 3: Economic and Social Benefits - The goal is to achieve a balance between economic benefits and social benefits in the management of pension financial products [1]

以债券、股票、非标准化债权类资产和衍生品等多种方式投资养老领域资产。 国家金融监督管理总局办公厅发布关于促进养老理财业务持续健康发展的通知。其中提出，稳步扩大养 老理财产品试点。自本通知印发之日起，养老理财产品试点地区扩大至全国，试点期限三年。理财公司 参与试点应当符合开业满三年、经营管理审慎、具备较强长期投资能力和风险管理能力等审慎监管要 求。单家理财公司养老理财产品募集资金总规模上限提高至该机构上年末净资本扣除风险资本后余额的 五倍，金融监管总局可以根据审慎监管原则进行调整。 《通知》提出，多元化投资方式。支持理财公司在坚守职能定位、依法合规的前提下，以债券、股票、 非标准化债权类资产和衍生品等多种方式投资养老领域资产。 国家金融监督管理总局办公厅关于促进养老理财业务持续健康发展的通知 金办发〔2025〕83号 各金融监管局，各理财公司及其控股股东，银行业理财登记托管中心： 为深入贯彻党的二十大和二十届历次全会精神、中央经济工作会议和中央金融工作会议决策部署，落实 《国务院办公厅关于发展银发经济增进老年人福祉的意见》（国办发〔2024〕1号）等要求，推动理财 公司扎实做好养老金融大文章，现就有关事项通知如 ...

Core Viewpoint - The National Financial Supervision Administration has issued a notice to promote the sustainable and healthy development of pension financial products, emphasizing the need to enhance product liquidity [1] Group 1 - The notice suggests appropriately increasing the liquidity of pension financial products [1] - It proposes the establishment of transfer and pledge service mechanisms for pension financial products, leveraging existing market and financial infrastructure to meet liquidity needs in cases of major illnesses [1] - The notice emphasizes the importance of improving risk prevention measures to protect investors' rights and ensure the smooth operation of transfer and pledge service mechanisms [1]

Core Viewpoint - The article discusses the accelerating aging process in China and the increasing burden on the working-age population for elder care, highlighting the need for improved pension systems and financial products to address these challenges [2][5][30]. Summary by Sections Aging Population and Pension Concerns - By the end of 2024, the elderly population aged 65 and above is projected to account for 15.6% of the total population, indicating that China has entered a deeply aging society [2][4]. - The elderly dependency ratio is approximately 4 working-age individuals for every 1 elderly person, increasing the financial strain on the younger population [4]. Public Sentiment on Retirement - 30% of respondents express concerns about insufficient funds for retirement, with over 50% worried about inadequate retirement income, rising medical expenses, and asset depreciation [5]. - A significant shift in attitudes is noted, with only 25% of respondents relying on children for support, reflecting a decline in the traditional "raising children for old age" mindset [6][7]. Sources of Retirement Income - 86% of respondents rely on basic pensions as a primary source of retirement income, underscoring the importance of the first pillar of the pension system [8][10]. - Other sources include financial assets (49%), enterprise pensions (45%), and property-related income (27%) [8]. Savings and Investment Behavior - While 90% of respondents have savings habits, only 54% engage in investment activities, indicating a lack of long-term investment strategies specifically for retirement [10]. - The main savings purposes include emergency/medical needs (65%), retirement savings (55%), and quality of life (48%) [11]. Preferences for Pension Financial Products - 65% of respondents prefer low-risk, stable-return pension financial products, with a desire for features like capital protection and inflation-beating returns [13][14]. - The current scale of China's pension system is only 12% of GDP, indicating significant room for growth [15]. Pension System Structure - The first pillar, basic pension insurance, is heavily reliant on fiscal subsidies, with a reported surplus of 6.31 billion yuan in 2023 [19]. - The pension replacement rate for urban workers is estimated at 45%, below the international warning line of 55% [20][21]. Development of Pension Financial Services - China Construction Bank aims to create a comprehensive pension financial ecosystem, focusing on a "1314" service system to support clients throughout their lives [30][31]. - BlackRock CCB has launched various pension financial products, including the first ten-year pension financial product "Bei Anxin" and personal pension products utilizing advanced technologies [32][33].

人民财讯10月30日电，国家金融监督管理总局办公厅印发关于促进养老理财业务持续健康发展的通知， 其中提出，稳步扩大养老理财产品试点，试点地区和期限。自本通知印发之日起，养老理财产品试点地 区扩大至全国，试点期限三年。 ...