Shanghai: Support eligible commercial banks, insurance institutions, wealth management companies, trust companies, and others to participate in the comprehensive management services of the basic pension insurance fund.

Shanghai Financial Regulatory Bureau issued the "Shanghai Banking and Insurance Pension Financial High-quality Development Action Plan". It proposed to upgrade basic pension insurance services. Banking institutions should fully leverage the advantages of multiple branches, comprehensive channels, new equipment, and good platforms, continuously optimize the service environment, enrich facilities for elderly services, improve service management standards, strengthen personalized services for special groups such as the elderly, and enhance the service experience of basic pension insurance participants. Insurance institutions should adhere to compliant operations, establish a full-chain risk control system covering pre-risk assessment, real-time monitoring during incidents, and post-performance evaluation, to build a strong firewall for the safe operation of basic pension funds. Support eligible commercial banks, insurance institutions, wealth management companies, trust companies, etc. to participate in comprehensive management services of basic pension insurance funds.