Banks and Insurance giant jointly push for branded products trillion enterprise annuity

A (Reporter / Zhu Guifang) yesterday, CITIC Bank (4.37,0.08,1.86%, right) in Guangzhou in the near future release of the development of enterprise annuities --- brand new, "the letter Fu annuity." It is reported that this is the first of China's enterprise annuity brand, aimed at breaking the annuity business in the area over the past few years, "only business promotion, no product" pattern. The bank is responsible for about disclose, "the letter pension fu" brand into China Life Insurance (19.68,0.58,3.04%, it), Taiping Life, Ping An of China (26.22, -0.08, -0.30%, right), Taikang pension, insurance Xinhua Institutions such as pension management as a strategic co-operation agencies, so that the enterprise annuity for each of the beneficiaries of the service more focused, more in the form of diversification.



   Hosting one-stop investment account management



   Annuity business is business and trade unions to participate in the basic old-age insurance in accordance with the law on the basis of the establishment of a voluntary supplementary old-age insurance system. Annuity business has become the country's social old-age insurance system in the second pillar. At present, the national human resources and Social Security Department of Labor has approved trustee, including eligibility, qualified trustees, investment manager qualifications, account manager qualifications, including 58 enterprises eligible for pension management. At the same time be able to have a number of qualified financial institutions to small. According to official said CITIC Bank, Chinatrust Financial Holding Group companies have received all eligible 4, covers the operation of the enterprise annuity in need of trustees, custodians, investment manager, account manager for all eligible licenses, , "The letter pension fu" brand of operational success is a matter of course.



   The source said that CITIC Bank, "the letter pension fu" Customer service is not limited to large and medium-sized enterprises, "the letter pension fu," the introduction of the four annuity products and annuity products, pan, covering all levels of customer groups, to meet customer demand for multi-dimensional. At the same time, in order to differentiate the products, services, to implement a systematic and integrated solutions to solve different problems annuity business, enterprise development, the interests of investors and the social responsibility of the win-win-win situation.



   Annuity business in 2010 is expected to scale up to 1 trillion



   2004 "on a trial basis annuity business" since it was launched, China's enterprise annuity market has experienced steady and rapid development. In 2008 the State Council, points should be made to standardize the development of the enterprise annuity system, some developed countries also proves that the practice of enterprise annuity business to enhance the cohesion and improve the competitiveness of enterprises, the social old-age insurance system to make up for deficiencies in such areas have played a positive role.



   According to statistics, as of the end of 2006, the National Pension scale up to 91,000,000,000 yuan, in 2007, the National Enterprise of the total size of the annuity reached 130,000,000,000 yuan, the annual increment of 400 billion yuan, and two years in a row to maintain more than 40% growth. According to the China Insurance Regulatory Commission predicts that by 2010 China's enterprise annuity will reach 1,000,000,000,000 yuan, the participants will be more than 100,000,000 people. The World Bank forecast that by 2030 China will be up to the scale of enterprise annuities by about 15 trillion yuan to become the world's third-largest corporate pension market.



   However, some experts pointed out that China's imbalance in the structure of enterprise annuities, annuity business in good economic sectors in particular, several of monopoly industries developed rapidly, the current corporate pension funds have accumulated over a hundred million the concentrate all the power industry, petrochemicals, Oil, mining, steel and telecommunications industries, a number of economically underdeveloped inland areas of the enterprise annuity business has not even start. The establishment of enterprise annuities state-owned enterprises was significantly higher than the proportion of private enterprises, foreign-funded enterprises to start a positive sign. A relatively small number of enterprises have set up enterprise annuities will, however, often cumbersome procedures, the relatively high cost, less involved in the present.



   In this regard, the CITIC investment experts believe that countries with the introduction of Social Security, labor-related pension scheme, may be more attractive to small and medium enterprises. As a result, CITIC's pension in the positioning of the brand than the targeted small and medium enterprises.