w88 casino News Network (provided by the w88 casino of Insurance)On April 19, the "2025 Longevity Risk Spring Forum and Commercial Insurance Annuity Development Seminar" jointly sponsored by the w88 casino of Insurance of the w88 casino and the Financial Association was successfully held in the Boxue Building of w88 casino. With the theme of "China Pension Finance and Longevity Risk Management", the conference deeply discussed the response strategies to longevity risks in the context of population aging, as well as the key role of commercial insurance annuities in optimizing the pension financial system. Wen Jun, Vice President of the w88 casino, Chen Wenhui, Vice Chairman of the China Wealth Management 50 Forum, Zhou Hong, Chairman of the Pension Insurance Professional Committee of the China Social Insurance Society, and more than a hundred experts and scholars from political circles, academia, and industry gathered together to discuss new paths for the development of pension finance. The meeting was chaired by Professor Sun Jie, member of the National Committee of the Chinese People's Political Consultative Conference and deputy dean of the w88 casino of Insurance at the w88 casino.
Wen Jun, Vice President of the w88 casino, delivered a speech. She said that this forum focused on the optimization of the pension insurance system and response to longevity risks, bringing together the wisdom of government, industry, academia and research. The meeting will conduct in-depth discussions on the design of the third pillar pension insurance system, longevity risk product innovation, actuarial technology support and other issues, in response to the national strategy of actively responding to population aging during the 14th Five-Year Plan. She pointed out that the w88 casino of Insurance at the University of International w88 has established a research direction on pension finance, established a research center on aging society, compiled a series of teaching materials with universities, cultivated professional talents, and contributed to the development of the pension insurance industry. She emphasized that the national pension financial framework has been established, but talent training still requires collaboration between academia and industry. She expected the forum to build consensus, help build a multi-level pension security system, and promote the high-quality development of the pension insurance industry.
Chen Wenhui, Vice Chairman of the China Wealth Management 50-person Forum, said that aging is both a challenge and an opportunity. With its lifetime benefit characteristics, commercial annuities can effectively resolve the financial dilemma of "people have no money while they are still alive". At the same time, they can help grow long-term patient capital and support technological innovation and industrial upgrading. He called on the industry to promote innovation in floating-income products and optimize risk transfer with the help of reinsurance tools.
Professor Sun Jie, member of the National Committee of the Chinese People's Political Consultative Conference and deputy dean of the w88 casino of Insurance at the w88 casino, said that longevity risk is one of the core challenges brought about by the aging population. It is necessary to speed up the establishment of risk management mechanisms and promote the construction of the pension system. She believes that diversifying risks through financial instruments such as reinsurance and securitization, and strengthening pension financial infrastructure, such as formulating a standardized longevity index, to provide scientific basis for business innovation are important directions for future development.
Zhou Hong, chairman of the Pension Insurance Professional Committee of the Chinese Society of Social Insurance, pointed out that commercially insured annuities are of great significance to the balanced development of the second and third pillar pensions. It is recommended that tax incentives and other policies should be used to enhance product attractiveness and guide retired people to convert personal account funds into lifetime annuities to alleviate the pressure on the first pillar.
In the special speech session, many industry experts shared cutting-edge practical experience. Liu Fangtao, deputy general manager of Taikang Pension Market Planning Department, proposed that immediate annuities are an important way to solve the "annuity puzzle" and that policy support needs to be improved to match the needs of the pre-retirement population; Lou Lin, head of the Government-Enterprise Cooperation Office of China Re Life Strategy Research Department, introduced innovative models of longevity risk diversification, such as the application of social capital collaboration and reinsurance tools; Gu Qian, actuarial managing partner of Baker Tilly International Accounting Firm, emphasized the need to develop both Annuity products focus on flexibility and stability, and improve actuarial forecasting capabilities to cope with complex population structures; Li Chen, assistant general manager of Beijing Life Product Marketing Department, shared his experience in designing exclusive annuity products for people with disabilities, highlighting the importance of precise protection; Li Le, senior actuary of Swiss Re's life and health insurance in China, combined international experience to analyze the practical points of longevity risk securitization, providing reference for the domestic industry.
The meeting reached a number of consensuses and action plans: first, to improve the preferential tax policy for immediate annuities, promote the connection between the second and third pillars and commercial annuities, and strengthen regulatory guidance; second, to develop floating income annuity products, use reinsurance and securitization tools to diversify risks, and optimize asset and liability management; third, to accelerate the construction of data systems such as longevity index and promote the application of digital technology in risk management; fourth, to strengthen the construction of actuaries and cultivate professional talents with both international vision and local practice. The meeting also held an appointment ceremony for off-campus tutors for the Insurance Master's Degree.
The meeting called on governments, enterprises, academia and all sectors of society to work together to jointly address the challenges of aging. The government needs to improve policies and regulations, provide tax incentives and data support; insurance companies should strengthen product innovation and sales service capabilities, and improve risk management levels; academic circles need to deepen research on longevity risks and pension systems, and help integrate theory and practice; all sectors of society need to strengthen the popularization of pension finance knowledge and enhance residents' awareness of long-term security. Sun Jie, deputy dean of the w88 casino of Insurance at the w88 casino, concluded that this forum provided important ideas for dealing with aging. In the future, it will gather forces from all parties to promote the high-quality development of pension finance with Chinese characteristics and contribute wisdom and solutions to the realization of "a secure pension for the elderly."
