Recently, the China Banking Regulatory Commission and the People's Bank of China jointly issued the Notice on Launching the Pilot Work of Specific Pension Savings (hereinafter referred to as the Notice) to start the pilot work of specific pension savings.
The Notice clearly states that four large banks, namely, industry, agriculture, China and China Construction, will carry out specific old-age savings pilot projects in five cities, namely Hefei, Guangzhou, Chengdu, Xi and Qingdao. The pilot scale of a single bank does not exceed 6,543.8 billion yuan, and the pilot period is one year. Specific old-age savings products include lump-sum deposit and withdrawal, lump-sum deposit and withdrawal and lump-sum deposit and withdrawal. The product term is divided into four grades: 5 years, 10 years, 15 years and 20 years, and the product interest rate is slightly higher than the five-year time deposit listing rate of large banks. The maximum deposit principal of a single pilot bank depositor with a specific endowment savings product is 500,000 yuan. In view of the fact that it will take some time to reform the pilot banking system, the pilot start time is about 2022 1 1 month.
According to the definition given by the relevant person in charge of the large-scale banking department of the China Banking Regulatory Commission, the specific pension savings business takes into account both inclusiveness and pension, with long product term, stable income and guaranteed principal and interest, which can meet the pension needs of low-risk preference residents.
Compared with ordinary deposit products, specific old-age savings are different in two aspects: first, the deposit period is longer, and second, there are tax incentives.
In terms of product types, the term of specific pension savings products is divided into four grades: 5 years, 10 years, 15 years and 20 years. At present, the longest term of domestic bank deposit products is 5 years.
In terms of tax incentives, on April 2 1, the General Office of the State Council issued "Opinions on Promoting the Development of Individual Pensions", which clearly stated that individual pensions should be subject to individual account system, and the payment should be entirely borne by the insured and accumulated. The upper limit of the insured's annual personal pension payment is 6.5438+0.2 million yuan.
The Notice on Standardizing and Promoting the Development of Commercial Pension Finance previously issued by the China Banking Regulatory Commission pointed out that financial products that meet the requirements of the China Banking Regulatory Commission, such as bank wealth management, savings deposits and commercial pension insurance, are safe, mature, stable and standardized, pay attention to long-term value preservation and meet the preferences of different investors, and can be included in the scope of personal pension investment and enjoy preferential tax policies stipulated by the state.
This means that ordinary people can not only purchase old-age savings products directly through pilot banks, but also purchase old-age savings through personal pension accounts and enjoy preferential tax policies stipulated by the state.
The interest rate of pension savings products is slightly higher than the listed interest rate of five-year time deposits of large banks, which also makes its pricing method become the focus of market attention.
From the perspective of product types, the specific old-age savings products include lump-sum deposit and withdrawal, lump-sum deposit and withdrawal and lump-sum deposit and withdrawal.
Lump sum deposit and withdrawal refers to a deposit method in which the deposit period is agreed at the time of opening an account, and the principal and interest are withdrawn in one lump sum at maturity. The principal and interest of lump-sum deposit can be transferred automatically on the maturity date or according to the wishes of customers.
Withdrawal by installments refers to a saving method in which depositors agree on the deposit period, make monthly fixed deposits and withdraw the principal and interest at maturity. The saving method of lump-sum deposit and withdrawal can be integrated into one, with the functions of planning, binding and accumulation. The deposit interest rate is lower than the lump-sum time deposit and higher than the demand deposit, so that the depositor can get the deposit interest income slightly higher than the demand deposit.
Time deposit refers to a personal deposit with an agreed term when opening an account, in which the principal is deposited in one lump sum and the principal is withdrawn in installments. Zhou believes that this deposit method is suitable for depositors who earn income through deposits but have stable cash flow needs at the same time, and can be used for fixed withdrawal plans such as monthly payment of living expenses.