Author: Zeng Rong | Research Director of Zhixin Research Company
Pay attention to the "asset management cloud" and accompany the career growth of financial personnel!
Two days ago, a friend sent me a screenshot of Weibo, on which someone complained:
Investing in a "personal pension", I lost 20% a year, what is this loss to support the old, just send me away!
The following high praise commented:
As for this, you can't look at the short-term, but look at the long-term returns. In the long run, this money is equivalent to a drop in the bucket.
The highly praised review of this highly praised review said:
Friend, you will persuade people!
I watched the silly music for a long time, but I didn't react until after the music, the situation is not good!
At present, the mainland implements a three-pillar pension system:
The first pillar is referred to as "relying on the state", mainly relying on the "basic pension insurance" of the "pay-as-you-go system", with a cumulative balance of 6,985.1 billion yuan at the end of 2022. Looking at nearly 7 trillion yuan, that's a lot of money, isn't it? How long is this amount of money enough for China's retired elderly to spend? The answer is one year! That is to say, the current operation of our first pillar is how much to pay and how much to spend, and there is a slight surplus, and the surplus accumulated over several decades is enough to last for a year......
At the end of 2022, there were 30.1 million employees participating in the enterprise annuity, accounting for 2% of the mainland population......
The third pillar is the "personal pension" that will be officially implemented on November 25, 2022, referred to as "on your own". The current mode of operation is to save up to $12,000 per year, which can only be withdrawn until the statutory retirement age unless there are special reasons. The funds in the account can be invested in four types of products: "personal pension fund, personal pension financial management, personal pension insurance, and personal pension savings", but the specific investment decision needs to be made by yourself.
Personal pension is not a new investment variety that is icing on the cake, but a "100,000 emergency self-help countermeasures" that have to be vigorously promoted in order to cope with the urgent situation of the mainland before getting rich and growing old!
Who is it for?
- People with a personal income tax rate of more than 3%.
If the annual income is less than 36,000 yuan, we don't need to consider "personal pension" for the time being, because on the one hand, we can't enjoy tax incentives, and on the other hand, the proportion of long-term frozen assets is too high, which may affect the flexibility of family income and expenditure.
However, if the amount exceeds this level, even if the money is so much that it feels that 12,000 yuan is not worth mentioning and is not worth taking care of alone, they should insist on participating in the "personal pension" fixed investment.
After all, the human race is gifted with over-optimism. It is difficult for us to predict how many ups and downs there will be in our lives when we are young and middle-aged, and it is hard for us to believe that we who are currently well-dressed and have luxury cars and watches will be mixed up to the point of lack of food and clothing when we are old. But since we can afford to pay 12,000 yuan a year at the moment, why don't we cover for ourselves in our old age? Especially since our old age is likely to be in China's super-aging era, and the worst may be that we are still in the economic downturn......
Of course, investing in the bottom line of life and losing money as soon as it comes up is indeed a bit demoralizing. The key is that last year, when various financial institutions, especially banks, vigorously advocated customers to open personal pension accounts, the main publicity points were "tax saving", and investment risks were rarely mentioned, resulting in a considerable number of investors who were bent on paying less taxes a year.
However, in fact, there should not be many people who have really lost money, because in the four major investment directions, "personal pension savings" and "personal pension insurance" will not lose money, "personal pension financial management" investment style is conservative, bond holdings account for a high proportion, coinciding with the past year is a bond bull market, so basically can record a return of about 3%.
The only thing left to lose is the "personal pension fund", but as of September 30, 2023, the scale of the personal pension fund is only 5.187 billion yuan, which accounts for a very low proportion of the overall plate of personal pensions. The average income in the past year is -5.54%, and the overall loss is indeed a loss, but for example, the brother who lost 20% at the beginning was also unfortunate to buy the lowest ranked product.
There are not many people who lose personal pensions, but the impact is not small. The stalk of "loss of 20%" is quite ten, ten and hundred, and the more it spreads, the greater the impact. As soon as I was worried about the country and the people, I wanted to go to the field to see if there was any impact on the opening, deposit and repurchase of personal pensions?
As a result, I ran to the business department of a few banks, and I was surprised after chatting with a few account managers, and everyone didn't want to push it at all, not that it was more difficult!
First of all, the bank lobby managers heard that I was going to take the initiative to open a "personal pension account", and a few of them were obviously stunned for a moment, as if they had not seen such a customer for a long time...... (It is not excluded that more and more people are opening accounts online now)
Then the process of assisting in opening an account is also very unskilled, opening an account on the APP of a large bank is obviously very convenient, and the lobby manager also insisted on letting me use WeChat to scan the code to open an account, I didn't know that my own system had been upgraded, and I reminded me that it was suddenly realized...... (It means that there has been no internal training for a long time, right?)
When I took the initiative to ask the relationship manager to help me introduce personal pension products, the exciting part came:
The account manager of a large bank looked anxious to clear himself and said: "The personal pension is advocated by the state, and it has nothing to do with us." Then refuse--refuse--introduction-Shao——! (I feel that there are already loss-making customers who have come to the door to make trouble...... ）
The account manager of another big bank looked at the product pool displayed on the app with a sincere face, and said, "There is really nothing to invest in personal pension products, or take a look at other products sold in the bank?" "He ignored me...... (Obviously, the KPI assessment of personal pension sales is not as high as that of other products, and the incentive is large)
I have to say that the attitude of a certain retail stock bank is good! The first time to pay a personal pension is still incentive, save 10 yuan back 10 yuan (although at this time last year, his family just opened an account to give a gift of more than 100 yuan). Then the account manager advised me to "just save 10 yuan"......
Last year, everyone scrambled for the main account, and the enthusiasm to lay the foundation for the company's development in the next ten or twenty years has disappeared, and it has almost reached the point of coldness.
Comrades, don't give up!
The more pessimistic the market bottom, the more it is the highlight moment for wealth managers. At this time, we can accompany customers, patiently explain the differences in product strategies, help customers accept the risks of net-worth investment, and establish the concept of large-scale asset allocation, so as to win the hearts of customers and a steady stream of funds for a long time!
The fundamental reason for long-term investment to defeat the market is not only "long-term", but also requires reverse thinking and abandoning the old routine of "selling what is good to sell, and hiding away from what is lost", in order to really make money for investors.
As individual investors themselves, we need to give a clear positioning to the special money of "personal pension":
If you define it as a risk-free account, I don't care about earning more or less, just accumulating, then the safest place to invest is savings, although the interest rate is only about 2.6% now, but counting the tax benefits, it is still worth it;
If you want a living security, a subsidy that can make us eat better and live more comfortably in our old age, then study annuity insurance;
If you want to obtain higher and more stable returns through long-term investment for the purpose of appreciation, then you must accept the loss of the account in some years, and the more you lose, the more you buy, you can regard bank wealth management as a defensive asset, and the pension fund as an offensive asset for a large class of asset allocation.
But in any case, insist on depositing a sum of money into the "personal pension" every year! Let your future self be grateful to your future self.