Recently, the general office of the State Council issued the "opinions on accelerating the development of commercial pension insurance" (hereinafter referred to as the "opinions"), and deployed to promote the development of commercial pension insurance.

       "Opinions" pointed out that commercial endowment insurance is provided to commercial insurance institutions, pension risk protection, pension fund management as the main content of insurance products and services, is an important part of old-age security system. The development of commercial endowment insurance, to perfect the multi-level old-age security system, promote the diverse development of pension services, to cope with population aging trend and the employment pattern of new changes, to further protect and improve people's livelihood, promote social harmony and stability is important.

       "Opinions" pointed out that the development of commercial pension insurance should adhere to reform and innovation, improve the level of protection; adhere to policy guidance, strengthen market mechanisms; adhere to improve supervision and standardize market order. By 2020, the basic establishment of safe and sound operations, morphological diversity, wide area service, professional ability, continuesmoderately profit, integrity management norms of commercial endowment insurance system, pension insurance business has become the main carrier of personal and family pension business plan, take corporate sponsored pension plans of the important commercial providers, positive the operation of the market participants, social old-age security pension services for the healthy development of a strong promoter, financial security and economic growth of the stability of supporters.

       "Opinions" clearly, from four aspects of the deployment of commercial pension insurance development. First, innovative commercial pension insurance products and services. Encourage and support the commercial insurance institutions to develop diversified commercial endowment insurance products, the positive development of high security, strong security, meet the requirements for long-term or lifelong business pension insurance, and actively participate in the personal tax deferred pension insurance business pilot, to provide personalized, differentiated old-age security for individuals and families. Promote commercial insurance institutions to provide enterprise (occupational) annuity plans and other products and services, innovation oriented enterprises, employment groups needs, providing diversified pension security options. Commercial insurance institutions are encouraged to provide support and services for the reform of the old-age insurance system, and participate in the basic endowment insurance fund and the national social security fund investment and operation management in accordance with the law and order. Two is to promote the healthy development of the pension service industry. Encourage commercial insurance institutions to invest in the pension service industry, provide risk protection services for the pension institutions, and establish a comprehensive old-age security scheme for the elderly. Three is to promote commercial pension insurance funds safe and sound operation. Adhere to risk control, the principles of sustainable business, commercial endowment insurance funds play the advantages of long-term investment, steady and orderly participation in major strategic construction of national implementation, to participate in major projects and livelihood projects, promote the coordinated development of commercial pension insurance fund and the capital market, prudent to carry out the business of overseas investment. Four is to improve management service level. Strengthen the system construction, improve the quality of service, develop professional institutions, strengthen supervision and management, realize the commercial endowment insurance funds to maintain value and reasonable returns, and raise the insurance guarantee level.

       "Opinions" stressed that all localities and departments to strengthen organizational leadership and coordination, actively study and solve major problems in the development of commercial pension insurance, strengthen investment and fiscal and tax policy support, improve the local security policy support, to create a favorable external environment for the healthy development of commercial endowment insurance.

Source: Chinese government network