From the bank's annual report to reveal the secret of pension finance! pension scale and number of accounts have reached a new high

The Central Financial Work Conference clearly put forward the requirements for doing a good job in pension finance, with the recent centralized disclosure of annual reports by listed banks, the positive progress of the major banks on the work of pension finance has also been disclosed.

After combing the 2023 annual reports of some large state-owned banks and joint-stock banks, the Chinese reporter of the brokerage learned that in the past year, many banks have developed rapidly in the field of the "three pillars" of pension, and the number of accounts opened and the scale of custody funds have reached a new high. The pension management scale (group caliber) of ICBC alone exceeded 4.1 trillion yuan, and the pension trusteeship scale of Bank of China and China Merchants Bank also exceeded one trillion yuan.

In addition, in 2023, major banks are also continuously strengthening the supply of pension financial products, and banks will build their own differentiated competitive advantages by continuously refining product supply and creating characteristic brands and services, which objectively also makes the public have a wider range of pension financial products to choose from, and the level of pension services continues to improve.

The pension custody scale of many banks has exceeded one trillion yuan

According to the Chinese reporter of the brokerage, a number of large and medium-sized banks introduced the positive progress of their respective pension finance in the 2023 annual report in the form of special topics, and some core data were also disclosed.

ICBC said in the bank's annual report column that the bank's pension management is leading the industry, and as of the end of 2023, the group's pension management scale is 4.1 trillion yuan. By the end of 2023, it will be entrusted with the management of 554.1 billion yuan of enterprise annuity funds, 13.14 million personal accounts of enterprise annuities, and 1,378.1 billion yuan of trusteeship annuity funds. The scale of enterprise annuity funds entrusted to be managed, the number of individual accounts of enterprise annuities under management and the scale of managed annuity funds continued to rank first among banks.

Bank of China said that in the bank's custody business, the bank's pension custody scale reached 1.72 trillion yuan, an increase of 239.7 billion yuan from the end of the previous year. In addition, in terms of the bank's pension finance business, at the end of 2023, the scale of pension trustee funds will be 209.886 billion yuan, a year-on-year increase of 23.29%, the number of enterprise annuity personal account management will be 4.1237 million, a year-on-year increase of 5.77%, the pension trusteeship operating funds will be 992.390 billion yuan, a year-on-year increase of 9.46%, and more than 18,200 enterprise annuity customers will be served.

China Merchants Bank's pension custody scale also exceeded one trillion yuan, the bank's annual report said, "custody services deeply cover the three-pillar pension insurance system, as of the end of the reporting period, the pension custody scale reached 1.05 trillion yuan, to achieve a double increase in market share and scale." ”

Bank of Communications did not disclose the specific size of the bank's pension trusteeship, but the bank said that the scale of pension trusteeship is among the top in the industry.

In addition, some banks are not as good as the former in the scale of pension fund management, but the growth rate is also very impressive. According to the annual report of Agricultural Bank of China, as of the end of 2023, the bank's pension trustee management scale was 254.188 billion yuan, an increase of 24.7% from the end of the previous year. China Everbright Bank also said that the bank's pension custody scale increased by 19.60% from the end of the previous year.

Last year, the opening of personal pension accounts grew rapidly

In November 2022, the personal pension system was fully implemented, and 2023 is the first full year after the implementation of the personal pension system.

CCB said that in terms of the third pillar, as of the end of last year, the bank had opened more than 9 million personal pension accounts, of which 7.66 million were opened by mobile banking, achieving a leading position in the industry. China Merchants Bank said that in terms of the third pillar, as of the end of 2023, the bank has opened 5.3562 million personal pension accounts.

According to the annual report of Industrial Bank, the company has opened a total of 4,249,100 personal pension accounts, an increase of 1,957,500 or 85.42% over the end of the previous year. Among them, 2,324,900 new customers were driven, accounting for 54.72% of individual pension customers.

As of the end of last year, Minsheng Bank had provided a total of 1,701,600 customers with personal pension account opening services. According to the annual report of China CITIC Bank, 927,100 personal pension fund accounts were opened in the bank, an increase of 206.48% over the end of the previous year, and there were 3,097,800 pension account users. Among them, the number of personal pension fund accounts of China CITIC Bank increased by more than 200% year-on-year.

The supply of pension financial products is becoming more and more diversified

Recently, the National Development and Reform Commission and other departments issued a notice on the "14th Five-Year Plan for Actively Responding to the Aging of the Population Project and the Implementation Plan for Childcare Construction", pointing out that financial institutions should be guided to provide financial support for inclusive pension and inclusive childcare enterprises and institutions. Guide strategic cooperation institutions to actively connect projects and carry out targeted financial product innovation.

Brokerage China reporters found from the annual reports of large state-owned banks and some joint-stock banks that these institutions have further innovated in the supply of their respective pension financial products, and the supply of products and services has become more and more diversified.

For example, China Construction Bank said that the bank has promoted the construction of a characteristic pension financial service system, and has released a unified brand of pension finance "Jianyang'an", promoted the construction of a unified brand of group pension finance, promoted the construction of the first batch of pension financial outlets, created the image of a professional bank in pension finance, and "built a pension financial ecosystem".

ICBC said that the bank launched a panoramic view of pension finance, and customers can easily inquire about the first, second and third pillar pension assets through mobile banking, and carry out pension planning and calculation by themselves. In terms of the third pillar, it was the first batch of financial institutions to launch personal pension business, and built a diversified product line covering pension savings, pension financial management, pension target funds and commercial pension insurance.

According to the Postal Savings Bank, the bank has widely popularized the personal pension policy, carried out the "All the Way to Mail You Pension China Tour" pension financial service forum, covering 9 key provinces and cities across the country, conveying the pension concept of "planning is now to enjoy the future of you", guiding customers to establish a scientific and rational concept of pension investment, polishing the "U enjoy the future" personal pension brand, and helping the construction of the national pension pillar system.

China CITIC Bank said that the bank has built a pension financial system that "combines industry and finance, and integrates medical care and elderly care". The bank said in the special topic that the bank has improved the pension financial service system supported by "one account, one account, one product, one service, one team and one platform"; the optimization and upgrading of pension financial instruments, including "a healthy balance sheet", to achieve full pension asset management and one-stop pension planning, and to enrich the functions of the "happiness +" club.

IB said that the bank has strengthened the expansion of pension finance business around the three major business areas of pension finance, pension service finance and pension industry finance. Personal pension products have achieved full coverage of four categories: savings, funds, wealth management and insurance, with more than 150 products, ranking in the forefront of the industry.

Minsheng Bank introduced in the annual report that the bank started from the perspective of pension financial services, studied the needs of customers in the two stages of preparation for the elderly and pension, combined the personal pension plan of the elderly customers with the exclusive service of "people's livelihood enjoyment" for the elderly customers, and established the brand image of pension finance around the seven major sectors. At the same time, some branches have also piloted the establishment of community sub-branches with the theme of pension finance.

Editor-in-charge: Yang Yucheng

Proofreading: Wang Jincheng