Group 1 - The personal pension system in China has been steadily developing since its trial launch in December 2022, with public fund Y shares (exclusive to personal pension accounts) showing significant growth and positive returns [1][2] - As of October 31, 2023, the total number of public fund Y shares has increased from 129 to 302, and the fund size has grown from 2 billion to 15.1 billion [1] - The average return of the public funds under Guangfa Fund since inception is 22.26%, outperforming the average benchmark return by 4.67% [1][3] Group 2 - The personal pension system allows individuals to contribute up to 12,000 yuan annually, with tax benefits of up to 5,400 yuan, promoting long-term savings for retirement [2] - The pension fund products are categorized into three types: target date funds, target risk funds, and index funds, catering to different investor preferences and risk tolerances [2] - Guangfa Fund has established a comprehensive business framework for pension investment, focusing on product development, investment management, and customer service [3]