Ministry of Human Resources and Social Security: Individual pensions need to open two accounts, and participants can open one at a commercial bank

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 On April 25, the TMTpost app reported that the relevant persons in charge of the four departments including the Ministry of Human Resources and Social Security and the Ministry of Finance introduced the relevant situation of the "Opinions of the General Office of the State Council on Promoting the Development of Individual Pensions". The person in charge of the Ministry of Human Resources and Social Security stated that the personal pension is a supplementary pension insurance system supported by government policies, voluntary participation of individuals, and market-oriented operation. The payment shall be borne by the participants individually, with full accumulation, and the annual payment cap is 12,000 yuan. The funds in the personal pension fund account are used to purchase financial products such as bank wealth management, savings deposits, commercial endowment insurance, and public funds that meet the regulations, and participants can choose independently. my country will implement it step by step according to the actual situation, and gradually roll it out. Select some cities to try it out for one year, and then summarize and promote it. The person in charge of the Ministry of Finance stated that the state will formulate preferential tax policies for personal pensions, encourage individual participation, and support insured persons to use market-oriented means to enrich personal pension fund reserves. The person in charge of the China Banking and Insurance Regulatory Commission said that it is studying and formulating relevant policies such as the management measures for the personal pension business of commercial banks to ensure the introduction of more bancassurance products that are safe in operation, mature and stable, with standardized targets and focus on long-term value preservation. The person in charge of the China Securities Regulatory Commission said that it will promptly introduce the supporting rules and regulations for personal pension investment in public funds to ensure the safe and standardized operation of pension investment and promote the high-quality development of personal pensions. (Source: CCTV News)

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