Choice数据显示，截至12月24日，近一年来284只个人养老金基金全部实现正收益，平均净值增长率为 16.18%。其中，排名居前的是多只科创创业ETF、创业板ETF和科创50 ETF，近一年净值增长率均在 30%以上。此外，权益占比相对较大的养老目标日期基金和多只中证500 ETF近一年净值增长率也超过 20%。 目前，年度个人养老金缴存进入倒计时。除投资收益外，缴存个人养老金基金还有节税、省费两大优 势。 首先，从具体税收优惠来看，汇丰晋信基金相关人士表示，在2025年12月31日前开通个人养老金账户并 缴存，同时完成个税专项附加扣除项目的确认，就可以在2026年3月开始个税年度汇算时，享受2025年 度个人所得税其他扣除项目的退税额度。值得注意的是，错过的话就无法享受2025年度退税，只能再等 一年。而具体的节税额度根据全年应缴纳税所得额和税率进行阶梯式区分，最高可节税5400元。 近一年来所有个人养老金基金实现正收益 投资指数基金，究竟赚的是什么钱？有机构认为：一是经济长期向上的红利，如中证A500指数，覆盖 了沪深两市各行业规模较大且流动性良好的500家企业的股票，随着经济稳步发展，这些具有代表性 ...

个人养老金投资于2022年末开始在部分城市试点，2024年12月底推广至全国。公开数据显示，截至目前，个人养老金开户人数已一路攀升至超1.5亿。 临近年末，年度个人养老金缴存进入收官倒计时，金融机构纷纷加大营销力度，开启年底冲刺。 个人养老金是我国多层次养老保障体系的重要组成部分，其"缴费税前扣除、投资收益暂不征税、领取环节低税率"的税收优惠政策，已成为居民优化个 税、补充养老储备的重要选择。 银行花式营销 从开户到缴存，银行们纷纷设置阶梯式奖励，以真金白银的优惠吸引客户完成个人养老金年度缴存，助力居民锁定个税优惠与额外权益。 此外，各家银行还推出差异化产品和全流程服务升级，推动养老金融市场从粗放营销迈向精细化运营。 银行们针对个人养老金缴存的优惠呈现阶梯化和差异化特征， 覆盖不同缴存能力客群。"愉见财经"根据媒体报道整理了部分，例如： 中信银行推出"达标礼赠"福利活动：10月1日至11月30日，首次开户达标可参与抽奖，最高获366元微信立减金，缴存达标可再抽最高188元立减金，两档 福利叠加至高可领554元。 超98%基金Y份额实现正收益 工商银行在12月1日至31日推出"首开首缴享好礼"与"累计缴存礼上礼 ...

2025年即将结束，个人养老金投资的年度抵税优惠额度缴纳期限，进入倒计时。 券商中国记者了解到，基金公司近期向投资者发出"1.2万元缴存额度即将清零"提醒，不同年龄段的养老金投资者，也在近期根据自身情况进行了账户操作。有公募从 业者往养老金账户存入1.2万元，以在明年申报个税扣除；还有刚于今年退休的金融高管，把此前存的两期本金带利息（24384元）一并取出。 该高管对券商中国记者表示，384元的养老金利息比一般定期存款利率高一些，但收益算不上明显。他开户的银行没有公募基金Y份额产品，他存入资金买的是银行养 老储蓄产品。而受益于年内A股行情，逾98%基金Y份额产品年内实现正收益，最高收益率超60%。分析人士认为，从长期来看，养老金投资依然应遵循分散原则，目 前可投的金融产品已日趋丰富，投资者应根据产品风险收益特征、产品费率、自身年龄、收入等情况综合考虑。 最多可省5 4 0 0元 从券商中国记者了解的情况来看，不同年龄段的养老金投资者，在年底都根据自身情况进行了账户操作。北京一位公募从业人士对券商中国记者表示，和往年一样， 他近期往养老金账户了存了1.2万元，把额度都用上了。他表示，这笔退税虽然不高，但确实是一 ...

如果说税收优惠是养老资金的"安全垫"，那么指数基金Y份额和公募养老FOF就是助力长期增值的"核心 引擎"。其中，指数基金Y份额通过追踪市场核心指数，为投资者提供分享经济增长红利的便捷工具； 而养老FOF通过跨市场、跨品类资产配置，力争有效平滑单一市场波动，比如股债搭配、境内外资产组 合等，一定程度上可大幅降低极端风险概率。 2025年度个人养老金缴存已进入倒计时！随着年底脚步渐近，不少人仍在参与与否间徘徊：有人因"钱 存进去后直到退休才能提取"而心生顾虑，也有人害怕可能遭遇"投资亏损"。其实解开这些顾虑的关 键，在于读懂养老规划的核心逻辑：它并非简单的"临时存钱"，而是借助"长期投资+复利积累"，为养 老生活积攒底气的明智之举。 01 养老"不遥远"，主动规划应提上日程 民政部数据显示，截至2024年底，60岁及以上人口占比达22.0%，总数超3.1亿，较2021年上升16个百分 点，我国中度老龄化加速。与此同时，卫健委数据显示，2024年我国居民人均预期寿命增至79岁，退休 后生活周期或长达约20年。从养老金抚养比数据来看，国家统计局数据显示，截至2024年全国65周岁以 上老年人口抚养比达22.8%。在当 ...

Core Viewpoint - The implementation of the personal pension system has significantly expanded, with the average return of personal pension fund Y shares exceeding 17% in the first three quarters of 2025, highlighting its importance in national retirement savings [1][2]. Group 1: Market Expansion and Performance - The personal pension fund catalog has expanded to 302 funds, a 51.76% increase year-on-year, including 211 target date funds and 91 index funds, indicating a diversification of investment options [2]. - The total scale of personal pension fund Y shares reached 15.111 billion yuan by the end of Q3 2025, a growth of over 65% from the end of 2024, with index fund Y shares increasing more than sixfold [3]. - 99.7% of the 300 Y share funds reported positive returns in 2025, with all pension FOF Y shares achieving positive returns, showcasing strong market performance [3]. Group 2: Company Performance and Strategy - ICBC Credit Suisse Fund has seen its Y share scale rise to 1.457 billion yuan, accounting for 9.64% of the total market share, with a growth rate of 94.27% compared to the end of 2024, positioning it as a preferred choice for investors [3][4]. - The company has developed a diversified Y share matrix consisting of 13 products, including 9 pension FOFs and 4 index funds, catering to various retirement planning needs [4][5]. - The performance of ICBC Credit Suisse's pension FOF Y shares has been strong, with 8 funds exceeding the performance benchmark over the past year, and several funds achieving returns over 20% [5]. Group 3: Investment Approach and Research Capabilities - The company emphasizes a long-term investment strategy, supported by a robust research and investment system that covers various asset classes, ensuring deep insights into market dynamics [8]. - The investment management capabilities are enhanced by a platform that integrates risk control and real-time market tracking, allowing for efficient responses to market changes [8]. - The company aims to educate investors on long-term investment principles through initiatives like the "Investment for the People" program, promoting rational investment behavior [8][10].

Core Insights - The regulatory body has officially included index funds in the personal pension investment scope by the end of 2024, enriching the third pillar of pension investment alongside government bonds. This policy adjustment broadens the asset allocation boundaries for personal pensions and allows low-cost, high-transparency index funds to enter the pension planning of millions of investors [1] Group 1: Product Ecosystem and Market Diversification - The index fund Y shares have seen a continuous increase in product supply, forming a diverse ecosystem that meets various risk preferences for pension allocation. As of September 30, 2025, there are 302 personal pension fund products, with 91 index fund Y shares, accounting for over 30% [2] - The rapid development of index fund Y shares is supported by active participation from both leading and smaller fund companies, creating a market landscape characterized by leadership and diverse participation. As of September 30, 2025, E Fund leads with 11 index fund Y shares, followed by Huaxia Fund with 10 and Tianhong Fund with 9 [2] Group 2: Growth in Scale and Performance - The index fund Y shares have experienced explosive growth, becoming a significant growth engine in the personal pension market. By the end of September 2025, the total scale of pension fund Y shares exceeded 15 billion yuan, growing over 65% since the beginning of the year, with index fund Y shares increasing from 316 million yuan to 2.294 billion yuan, a growth of over 6 times [3] - Benefiting from the structural market trends in A-shares, index fund Y shares have shown impressive performance, with several products achieving annual returns exceeding 40%, showcasing their ability to capture gains in a bull market [3][4] Group 3: Investment Opportunities for Ordinary Investors - Ordinary investors should not simply follow trends when selecting Y shares for personal pension accounts but should align their choices with their own needs. It is essential to prioritize fund companies with comprehensive offerings to ensure steady progress in long-term pension investments [7][9] - Selecting a fund company with a comprehensive layout is crucial for the long-term stability of pension investments, as these institutions typically have a more complete product matrix and mature research systems [9][12]

Group 1 - The core viewpoint of the articles is that the inclusion of index funds in personal pension investments represents a significant policy shift, enhancing the asset allocation options for individual pensions and making index funds a key tool for long-term retirement planning [1] - The introduction of Y shares for index funds has led to a rapid growth in the personal pension market, with the total scale of Y shares exceeding 15 billion yuan by the end of September 2025, reflecting a growth of over 65% since the beginning of the year [3][4] - The number of personal pension fund products has reached 302 by September 30, 2025, with index fund Y shares accounting for over 30% of this total, indicating a diverse product ecosystem catering to various risk preferences [2] Group 2 - The performance of index fund Y shares has been outstanding, with some products achieving annual returns exceeding 40%, showcasing their ability to capture gains in a bullish market [4][5] - The top-performing index fund Y shares include the Tianhong CSI Innovation and Entrepreneurship 50 ETF, which has a year-to-date increase of 61.96%, highlighting the effectiveness of precise index tracking [5][7] - Major fund companies like E Fund, Huaxia Fund, and Tianhong Fund have taken the lead in the number of Y share products, establishing a competitive advantage in both scale and quantity [2][3] Group 3 - Ordinary investors are encouraged to select Y share products that align with their risk-return profiles and to prioritize fund companies with comprehensive offerings for stable long-term pension investments [8][11] - Fund companies such as Huaxia Fund and Industrial Bank of China have developed diverse product matrices to meet different investor needs, enhancing their service capabilities in the pension sector [10][11] - The emphasis on passive investment strategies in index funds allows for low tracking errors and effective risk diversification, making them suitable as foundational investments for retirement [7][8]

Core Insights - The personal pension system in China has made significant progress since its implementation on November 25, 2022, evolving from pilot programs to comprehensive promotion, enhancing the product system and market vitality [1][10][11] Group 1: Investment Behavior and Trust - Investors are showing more mature and rational behavior, with many early investors recovering from initial losses as market conditions improve [2][12] - The participation rate in regular investments for different pension products has increased, with the participation rate for pension FOF Y shares rising from 2.22% in 2022 to 5.27% in 2025, and index fund Y shares reaching 13.77% [2][12] Group 2: Growth of Index Funds - The inclusion of index funds in the personal pension system has led to significant growth in Tianhong Fund's pension business, with the total scale of index fund Y shares reaching 160 million yuan by the end of Q3 2025 [3][13] - The number of clients holding index fund Y shares has expanded rapidly, reaching 17,000 by the end of Q2 2025 [3][13] Group 3: Professional Empowerment and Core Competitiveness - Tianhong Fund has established a professional pension investment team and a systematic, diversified asset allocation research framework to support decision-making [5][15] - The company has built a comprehensive risk management system that emphasizes proactive risk prediction and management, gaining recognition from regulatory bodies [7][17] Group 4: Product Strategy and Customer Service - The product lineup for personal pensions has expanded to 13 offerings by 2025, catering to diverse age groups and risk tolerances [6][18] - Continuous innovation in customer service and investor education is being implemented, focusing on long-term investment strategies and risk awareness [7][18] Group 5: Future Development - Tianhong Fund aims to deepen product innovation and customer segmentation, enhance research capabilities, and strengthen customer service and education efforts to support the ongoing development of the personal pension system [8][19]

Core Viewpoint - The introduction of personal pension accounts and the tax incentives associated with them have led to increased interest in index funds designed for personal pension investments, particularly those employing a low-volatility dividend strategy, which is becoming increasingly popular among investors [1] Group 1: Understanding Pension Investment - Pension investment fundamentally aims to ensure a comfortable retirement, which includes having sufficient funds to cover unexpected situations and improve quality of life [2] - For many young and middle-aged individuals, pension investment is a long-term accumulation process, emphasizing risk control and stable asset growth rather than short-term high returns [3] Group 2: Low-Volatility Dividend Strategy - The low-volatility dividend strategy combines high dividend yield stocks with low volatility factors, aiming to select fundamentally strong stocks that can perform well in both economic recovery and downturns [4] - This strategy is particularly suited for pension investments as it emphasizes risk control and long-term value growth, making it a good match for the objectives of pension funds [5] Group 3: Benefits of Low-Volatility Dividend Strategy - The inclusion of low-volatility factors helps identify high-quality value stocks, enhancing defensive attributes during market fluctuations, which aligns well with the stability sought in pension investments [5] - The high dividend yield of low-volatility assets can significantly contribute to long-term pension investment returns, especially in a low-interest-rate environment where traditional fixed-income investments yield less [6] - Historical performance shows that the low-volatility dividend strategy has outperformed broader market indices during downturns, demonstrating its resilience and long-term investment value [7][9]

Core Viewpoint - The introduction of personal pension accounts and the tax incentives associated with them have made dividend low-volatility strategies increasingly attractive for long-term retirement planning, particularly in the context of a low-interest-rate environment [1][5]. Group 1: Understanding Pension Investment - Pension investment fundamentally aims to ensure a comfortable retirement, which includes financial security alongside health and family well-being [1]. - For many young individuals, pension investment is a long-term accumulation process, emphasizing risk control and stable asset growth rather than short-term high returns [2]. Group 2: Dividend Low-Volatility Strategy - The dividend low-volatility strategy combines high dividend yield stocks with low volatility factors, aiming to select fundamentally strong stocks that can perform well in various economic conditions [3]. - This strategy is designed to provide a defensive approach during market downturns, thereby reducing volatility and drawdown risks [3]. Group 3: Alignment with Pension Investment - The inclusion of low-volatility factors helps identify high-quality value stocks, making it suitable for pension investments that prioritize long-term stability [4]. - Dividend low-volatility assets can accumulate wealth over time, contributing significantly to overall returns in a pension portfolio [5]. - In a persistently low-interest-rate environment, dividend low-volatility indices offer attractive yields compared to traditional fixed-income investments, making them appealing for pension funds [5]. Group 4: Performance and Resilience - The dividend low-volatility strategy has demonstrated strong performance across different market conditions, particularly during market downturns, outperforming broader indices [6][8]. - Since its inception, the strategy has achieved significant cumulative and annualized returns, indicating its effectiveness as a long-term investment approach [7].