作为养老"第三支柱"的重要组成部分，2022年11月，个人养老金制度在36个城市（地区）先行实施； 2024年12月，个人养老金制度推向全国。人社部数据显示，个人养老金制度实施两周年之际，已有超 7000万人开通个人养老金账户。 该制度实施以来，产品货架不断丰富。根据国家社会保险公共服务平台数据，截至10月7日，衔接个人 养老金制度的储蓄、基金、保险、理财产品分别为466只、302只、376只、37只，总量达到1181只。 个人养老金制度设计也在不断优化。例如，今年9月1日起施行的《关于领取个人养老金有关问题的通 知》新增三类可提前领取情形，拓展了申请渠道，明确了缴存延续等政策安排，给这项制度赋予更多灵 活性与包容性。 业内人士表示，个人养老金缴费完全由参加人个人承担并自主选择购买产品，是自己储备的额外的"未 来储蓄罐"；参加人可以根据自己的经济能力，在每年1.2万元上限之内，自主决定参加程度和缴存额 度。 缴存和投资程度有待提高 尽管开户人数快速增长到数千万的量级，该制度在推行过程中，也出现了"开户热、缴存冷、投资少"等 问题。 "从实践情况看，制度推行初期虽取得一定成效，但在参与覆盖、税收激励、产品供给、 ...

Core Insights - The total number of personal pension financial products in China has expanded to 37, with the introduction of two new products from China Post Life, enhancing the options available for investors as the personal pension system is set to be fully implemented nationwide by December 2024 [2][3]. Product Performance - All 37 personal pension financial products have achieved positive returns since their inception, with an average annualized return of 3.5%. China Post Life's products lead with an average annualized return of 4.22%, while the lowest is from CCB Trust at 3.03% [2][8]. - The performance of these products varies significantly within the year, with China Post Life's product achieving a year-to-date return of 4.75%, while two products from CCB Trust have returns below 1% [2][10]. Product Types and Strategies - The newly launched products from China Post Life follow a "fixed income plus" strategy, allocating at least 80% of funds to fixed-income assets and up to 20% to equity and derivatives to enhance returns [3]. - Among the 37 products, "fixed income plus" products dominate, comprising 27, which is over 70% of the total. There are also 5 pure fixed-income products and a mix of other types [3][5]. Risk and Management Fees - All products have a risk rating of medium or lower, with 67.6% classified as low to medium risk (R2) and 32.4% as medium risk (R3) [5]. - China Post Life has the highest average management fee rate at 0.18%, while ICBC and CCB Trust have the lowest at 0.05%. The management fees for the products range from 0.05% to 0.3% [6][7]. Volatility and Historical Performance - The average annualized volatility of the 37 products is 0.79%, with only 6 products experiencing a maximum drawdown exceeding 1% [9][10]. - The highest annualized return since inception is 5.18% for China Post Life's flexible allocation product, while the only product with an annualized return below 2% is from ICBC at 1.92% [8][9].

Core Viewpoint - The recent addition of two fixed-income personal pension financial products by China Post Wealth Management reflects the ongoing expansion and innovation in the personal pension market, which aims to meet diverse investor needs and enhance retirement planning options [1][2][3]. Group 1: Product Development - The newly introduced personal pension products have minimum holding periods of 18 months and 2 years, with a risk level classified as moderate (level 2) [1]. - These products primarily invest at least 80% in low-risk fixed-income assets while allowing up to 20% in equities to enhance returns, utilizing strategies like preferred stock allocation and hedging tools to reduce volatility [1][2]. - As of August 2023, the scale of personal pension financial products from China Post Wealth Management has surpassed 20 billion yuan, serving nearly 400,000 investors [2]. Group 2: Market Potential - The personal pension system, as the "third pillar" of China's pension insurance framework, is supported by government policies and aims to provide supplementary retirement benefits [2]. - Recent reports indicate that personal pension financial products have generated over 390 million yuan in returns for investors, with an average annualized return exceeding 3.4% [3]. - There is a significant market potential for personal pension products, as the current supply from bank wealth management subsidiaries remains relatively low compared to investor demand [3]. Group 3: Innovation and Future Outlook - Financial institutions are encouraged to innovate in three key areas: product variety, asset allocation, and service integration, to better cater to different age groups and risk appetites [4]. - The development of a diverse range of pension products will enhance the personal pension financial market, making it a crucial component of retirement finance in China [4].

Core Viewpoint - The recent addition of two fixed-income personal pension financial products by China Post Wealth Management reflects the ongoing expansion and innovation in the personal pension market, which aims to meet diverse investor needs and enhance retirement planning options [1][2][3]. Product Development - The newly introduced products have minimum holding periods of 18 months and 2 years, with a risk level classified as moderate (level 2), primarily utilizing fixed investment strategies to balance asset allocation [1][2]. - As of August 2023, the scale of personal pension financial products from China Post Wealth Management has surpassed 20 billion yuan, serving nearly 400,000 investors [2]. Market Dynamics - The personal pension system, recognized as the "third pillar" of China's pension insurance framework, has shown steady growth since its pilot launch in 2022, with ongoing policy support indicating potential market expansion [2][3]. - By the end of June 2023, personal pension financial products generated over 390 million yuan in returns for investors, with an average annualized return exceeding 3.4% [3]. Innovation and Future Outlook - Key areas for innovation in financial products include diversifying product types to cater to different age groups, enhancing asset allocation capabilities, and integrating financial products with retirement services [4]. - The personal pension financial market is expected to become a significant component of retirement finance, providing robust support for residents' retirement needs as more financial institutions participate and innovate [4].

近日，中国理财网发布第九批个人养老金理财产品名单，较之前新增了2只中邮理财的固定收益类产 品。自2023年2月首批个人养老金理财产品正式推出以来，截至目前，理财登记中心已支持6家理财公司 成功发行37只个人养老金理财产品，目前市场上共有21家商业银行参与代销。 记者了解到，本次新增的2只个人养老金理财产品分别设置18个月和2年的最短持有期，风险等级均为二 级（中低），风险程度适中，主要通过使用固定比例投资组合保险策略和目标风险策略，均衡配置债券 和权益等各类资产。具体来看，不低于80%投资较低风险的固定收益类资产，积累票息收益；不高于 20%投资收益弹性较强的权益类资产，并采用增配优先股、对冲工具等方式，力争降低组合波动，提高 投资者持有体验。 "此前我们已发行了365天、1095天、1825天等多期限产品，这次新推出的产品覆盖了更灵活的持有周 期，分别为1.5年和2年，满足投资者对流动性与收益平衡的需求，适配不同年龄群体的养老规划节 奏。"中邮理财相关人士表示，个人养老金制度自2022年试点以来持续深化，中邮理财也在不断丰富养 老金产品供给。截至今年8月，中邮理财个人养老金理财产品规模已突破200亿元，在1 ...

中经记者 秦玉芳 广州报道 中国理财网近日发布第九批个人养老金理财产品名单，中邮理财新增2只产品。至此，个人养老金理财 产品总数增加至37只。2025年以来，个人养老金理财产品已连续三批扩容。 个人养老金制度自2024年12月15日起从36个试点城市推广至全国，个人养老金开户人数已超7000万。 业内人士分析认为，当前个人养老金账户存在实际缴费人数少、空户率偏高的现象，产品吸引力不足是 导致这一状况的重要原因之一；随着理财产品体系的持续创新扩容，个人养老金账户将能够为投资者提 供更加多元化、个性化的投资选择，从而有效提升其对大众的吸引力。 产品加快扩容上新 从存量规模来看，上半年个人养老金理财产品规模回升趋势凸显。招商证券研报显示，截至2025年一季 度末，养老金理财产品存续规模达118.4亿元，环比增幅达51%，显示资金回流趋势明确。从结构来 看，中低风险产品仍为主流，占比接近89%。 收益回暖与结构优化并存 中国理财网数据显示，截至2024年年底，个人养老金理财产品数量为30只，规模超过90亿元。截至2025 年8月底，其数量增加至37只。 济安金信养老金研究中心主任闫化海表示，个人养老金理财产品今年以来 ...

编辑：杨希 主播：郭聪聪 本期文案：吴霜 董凌含 （原标题：理财"优等生"，个人养老金理财又扩容了） 个人养老金理财产品又上新了！我们复盘了一下过往业绩，发现这类产品可以算得上是理财产品里的优 等生。截至目前，已有6家理财公司发行37只个人养老金理财产品。也就是说，大家能选的产品越来越 多了！ 出品：飞钱说工作室 栏目统筹：耿雁冰 栏目策划：杨希 视频指导：曾婷芳 视频制作：董凌含 设计：王冰 ...

Core Insights - The ninth expansion of personal pension financial products in China has introduced 37 new products, including two with minimum holding periods of 2 years and 18 months, both classified as medium-low risk [1][2] - The new products utilize a more scientific and transparent index combination method for performance comparison, enhancing clarity on risk-return characteristics [1] - The overall market for personal pension products has reached 1,135 offerings, with a notable need for diversification and reduction of product homogeneity [2][3] Group 1 - The recent addition of two personal pension financial products marks the ninth expansion, bringing the total to 37 products available in the market [1] - The new products are designed with minimum holding periods of 2 years and 18 months, both categorized as medium-low risk and primarily investing in fixed-income assets [1] - The performance comparison for these products has shifted to an index combination approach, which is deemed more transparent and informative for investors [1] Group 2 - As of August 29, 2023, the total number of personal pension products has reached 1,135, including various types such as savings, funds, insurance, and financial products [2] - The current supply of personal pension products is still relatively insufficient, with a high degree of product homogeneity and a concentration in medium-low risk "fixed income plus" products [2] - The introduction of more diverse asset allocations, particularly in equity markets, is seen as a significant direction for enhancing long-term investment returns [3]

Group 1 - The core viewpoint of the news is the expansion of personal pension financial products in China, with the introduction of two new products, enhancing the variety available to investors [1][2] - The newly added personal pension financial products have minimum holding periods of 2 years and 18 months, both classified as level two risk (medium-low), primarily investing in fixed-income assets like bonds, with a small allocation to equity and derivative assets [1][2] - The performance benchmarks for the new products have shifted to a more scientific and transparent index combination method, which better reflects the risk-return characteristics and investment strategies [1][2] Group 2 - Since the launch of the first batch of personal pension financial products in February 2023, a total of 37 products have been issued, with 21 commercial banks participating in distribution [2] - As of August 29, 2023, there are 1,135 personal pension products available, including 466 savings products, 303 fund products, 329 insurance products, and 37 financial products [2] - The current supply of personal pension products is still relatively insufficient, with a high degree of product homogeneity, primarily focusing on medium-low risk "fixed income plus" products [2] Group 3 - A diversified asset allocation, particularly in equity markets, is seen as an important direction for personal pension financial products, which are designed for long-term investment [3] - Among the 37 products, 25 are classified as level two risk (medium-low) and 12 as level three risk (medium), indicating a focus on stability [3] - As of June 2025, personal pension financial products have generated over 390 million yuan in returns for investors, with an average annualized return exceeding 3.4% [3]

Group 1 - BlackRock criticizes the politicization of pension fund management in the US, stating that both Republican and Democratic officials have injected political factors into the management of retirement assets [7][8] - Schroders' 2025 US Retirement Survey reveals that 45% of participants in retirement plans are willing to invest in private equity and private debt, an increase from 36% the previous year [8][9] - The Canadian CPP Investment Board is warned about underestimating the impact of climate change on pension fund returns, with projections indicating a potential decline of 50%-60% in financial returns by 2040 if global temperatures rise by 3.7 degrees Celsius [2][17] Group 2 - The Net-Zero Banking Alliance has suspended operations and announced a restructuring due to the exit of several prominent member institutions [18] - A bipartisan bill has been introduced in the US Congress allowing veterans to continue contributing to their Thrift Savings Plan (TSP) accounts after retirement [19][22] - Republican senators are urging the SEC to establish safe harbor rules for alternative investments in 401(k) plans, following an executive order aimed at promoting alternative investments in workplace retirement plans [23][24] Group 3 - Norway's sovereign wealth fund divested from Caterpillar and several Israeli banks due to alleged human rights violations related to the Israel-Gaza conflict [26][27] - South Korea has introduced a subsidy program for young citizens enrolling in the National Pension System, aiming to increase participation rates among the youth [28] - The ongoing discussion about including Bitcoin in 401(k) plans has sparked debate, with potential implications for the cryptocurrency market and investor risks [29][31] Group 4 - The UK Pension Association is lobbying against mandatory investment regulations in the upcoming Pension Schemes Bill, emphasizing the importance of fiduciary responsibility and market competition [32][33] - Recent performance data shows various public pension funds achieving significant returns, with Maryland's pension system reporting a 9.80% return [34] - The expansion of personal pension financial products in China includes new offerings that will allocate a portion of investments to equity assets, reflecting a growing trend towards diversified investment strategies [35][36]