China Fund Industry Association reported on the 7th that on September 6th, the inaugural meeting and the first plenary meeting of China Pension Professional Committee Asset Management Association was held in Beijing. Li Chao, Vice Chairman of China Securities Regulatory Commission, Hu Xiaoyi, President of China Social Insurance Society in Ministry of Human Resources and Social Security, Wang Zhongmin, Consultant of Pension Professional Committee and Vice Chairman of National Social Security Fund Council, and Hong Lei, President of China Asset Management Association attended the meeting and delivered speeches. Twenty-two members including Professor Dong Keyong, Professor Zheng Bingwen, Professor Yang Yansui and Fan Yu, Deputy General Manager of China Clearing, attended the discussion. Wu, Deputy Director of Institutional Department of CSRC, Deputy Director of Marketing Department, Zhong Rongsa, Vice President of China Asset Management Association, and relevant responsible comrades attended the meeting.

China Pension Professional Committee Asset Management Association consists of 22 senior managers from Public Offering of Fund, private equity fund, securities asset management, insurance asset management, bank custody and fund sales departments. The main duties of the Committee are: (1) to organize pension research and promote the progress and application of academic research on pensions; (two) on behalf of the industry to make suggestions and promote the construction of a sound three-pillar pension system; (3) Continue to carry out investor education to raise people's understanding of pension planning and investment management; (four) to promote the industry to improve the ability of pension investment management, promote the diversification of pension investment assets, train professionals, and build a professional ecology of pension investment management.

Li Chao, vice chairman of China Securities Regulatory Commission, said that at present, it is in a critical period of designing the top-level pension system in China, and the establishment of this committee is necessary and timely. The Committee should focus on the overall situation of the old-age security, with the feelings of serving the people and being responsible for history, think more about "what can we do for the pension" rather than "what the pension can bring us", base on the national conditions, conduct in-depth research, and actively make suggestions and suggestions for the improvement of the pension system. With the development of China's aging society, it is urgent to establish the third pillar of old-age care, and the consensus of all parties is gradually reaching. After nearly 20 years of development, Public Offering of Fund has achieved good investment performance and industry reputation, and has become the main force of pension investment management, which should play its due role in the establishment of the third pillar. I hope members can fully study the characteristics and laws of the third pillar, promote the industry to pay more attention to the pension business, and make more contributions to the standardization and development of pension finance.

Wang Zhongmin, consultant of the professional pension committee and vice chairman of the National Social Security Fund Council, hopes that the committee can make suggestions for the National Social Security Fund and promote the preservation and appreciation of its investment. He also shared some thoughts on pension management based on the investment and operation practice of the national social security fund: first, the account of the third pillar should be a real personal account, so as to enjoy tax incentives, and the investment side should have free choice, not limited to a single insurance product, but an open product choice. Tax deferral is a very important institutional incentive and an important source of investment income; Second, the fund structure helps to form an incentive relationship that integrates fiduciary responsibility with internal governance and income distribution; Third, large-scale collective funds are only suitable for parent funds. The specific method of parent fund can be FOF or mom. Choose the manager's products through marketization and openness, allocate assets, diversify investment, avoid investing in a single product, avoid measuring income in the short term, and consider the long term.

By the end of 20 16, the total pension scale in China was 7 1 trillion yuan, including 4.4 trillion yuan for basic pension, 0/.1trillion yuan for enterprise annuity and 0/.6 trillion yuan for social security fund. Public Offering of Fund is an important investment manager of China's pension, and the pension he manages accounts for about 60% of the pension entrusted by professional asset management institutions. In the past ten years, he has helped social security funds and enterprise annuities achieve an average annual return on investment of 9.26% and 7.57% respectively. From overseas experience, private equity funds also play an important role in maintaining and increasing the value of pensions. According to the report of the Securities and Futures Commission of the United States, the assets up to 20 1 1.0 1 trillion dollars are managed by American private equity funds, of which 26.56% of the funds come from pension plans.