(Source: Shanghai Securities News 2025-03-04)
Promote financial institutions to incorporate ESG into the risk control system and corporate governance framework, enrich green financial products and services, and increase the efforts of the capital market to support green and low-carbon development; build and continuously improve a scientific and unified green financial standard system, and form a standardized system for green financial supply based on this; deeply integrate artificial intelligence technology with financial business to improve the efficiency and quality of financial services; accelerate the exploration of a w88 online live casino risk transfer mechanism for longevity risks with Chinese characteristics in personal pensions, establish a longevity risk hedging trading market, and promote the implementation of more inclusive pension financial products... Focusing on doing the "five major articles" in finance, the representatives and deputies actively make suggestions.
w88 online live casino, member of the National Committee of the Chinese People's Political Consultative Conference and vice dean of the School of Insurance of the University of International Business and Economics
w88 online live casino, member of the National Committee of the Chinese People's Political Consultative Conference and vice dean of the School of Insurance of the University of International Business and Economics:
Explore the establishment of personal w88 online live casino
w88 online live casino risk transfer mechanism for longevity risk
◎Reporter Han Songhui
The personal pension system has been fully implemented nationwide. How can more people benefit? w88 online live casino, a member of the National Committee of the Chinese People's Political Consultative Conference and vice dean of the School of Insurance of the University of International Business and Economics, said in an exclusive interview with the Shanghai Securities News that in the context of downward interest rates and insufficient supply of high-quality assets, financial institutions with pension management experience urgently need to play a role and innovate and develop more pension financial products that provide medium- and long-term stable returns.
"We should accelerate the exploration of a w88 online live casino risk transfer mechanism for personal pension longevity risks with Chinese characteristics, and at the same time establish a longevity risk hedging trading market, improve the system of managing longevity risks, and solve the worries of financial institutions in innovating medium- and long-term pension financial products, so as to promote the implementation of more inclusive pension financial products." Sun Jie said.
Lifetime payment w88 online live casino annuity insurance development is restricted
From the current personal w88 online live casino products, my country's w88 online live casino financial market is immature, and the advantages of different types of w88 online live casino products have not been exerted.
w88 online live casino analyzed that the investment period of personal pensions should be mainly medium- and long-term, but the personal pension products on the market are mostly bank savings and wealth management products, accounting for more than 50%. The homogeneity of products is serious, and most of the funds and wealth management products are short-term products of 1 to 5 years. Against the backdrop of downward interest rates and insufficient supply of high-quality assets, financial institutions with pension management experience are urgently needed to innovate and develop more pension financial products that provide medium- and long-term stable returns.
Compared with various pension financial products, only the time for receiving pension annuity insurance can be extended to life, that is, life-long payment pension annuity insurance, allowing participants to receive a certain pension every year. w88 online live casino said that although this is the advantage of pension annuity insurance, this design also brings greater longevity risks to insurance companies, that is, when people's actual life expectancy exceeds their life expectancy, it will bring financial risks to pension payers.
"If a long-lived risk transfer and dispersion mechanism is not established in a timely manner, the more insurance companies sell this type of product, the greater the long-lived risk it brings. For the sake of stable operation, insurance companies are unwilling to develop such products, so few of these products are currently among personal pension products." w88 online live casino said.
Establish a w88 online live casino risk transfer mechanism for longevity risks
So, how to manage longevity risks?
Sun Jie introduced that longevity risk swap is a longevity risk management tool that is widely used in the international market. The main participants are pension insurance companies and reinsurance companies. First, longevity risks should be transferred to large reinsurance companies through traditional reinsurance and swaps, and secondly, insurance companies, pension companies and reinsurance companies should transfer longevity risks to the capital market through w88 online live casino risk transfer tools.
To achieve these two points, government departments need to build a w88 online live casino risk transfer mechanism for longevity risks. Sun Jie said that government departments should provide institutional infrastructure construction and formulate framework rules for longevity risk swap transactions as soon as possible, including the rights and obligations of both parties to the transaction, transaction processes, and default handling, etc., to ensure the fairness, justice and transparency of the transaction; at the same time, build a risk assessment system for longevity risk swap, evaluate the risk tolerance of both parties to ensure that the transaction is carried out within a controllable range.
At the same time, we will research and develop w88 online live casino risk dispersal tools for longevity risks. "Overseas markets achieve the connection between longevity risks and social capital through longevity bonds and index longevity risk swaps, which is also a further extension of longevity swaps." Sun Jie said that through such w88 online live casino risk transfer tools, pension funds and insurance companies can transfer longevity risks to other financial institutions or a wider range of investors to achieve the purpose of diversifying longevity risks.
With a trading framework and financial products, a special trading market is also needed. Sun Jie suggested that a longevity risk trading market could be established on the Shanghai Insurance Exchange, allowing insurance companies to issue w88 online live casino risk transfer products therein, and authorizing the Shanghai Insurance Exchange to provide trading services for product issuance, trading and clearing and settlement work.
In this process, we must pay attention to the interaction between long-lived risk trading market and patient capital. w88 online live casino believes that the longevity risk management mechanism can effectively enhance the stability of insurance companies' liabilities, so that pension annuity funds stay in the capital market more "patiently".
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