Guangzhou: Exploring innovative development of enterprise annuity system, supporting all types of eligible and willing enterprises to establish enterprise annuity as soon as possible.

Guangzhou city recently issued measures to promote the high-quality development of pension finance. Among them, it mentions enhancing financial services for the construction of a multi-level and multi-pillar pension insurance system. It supports financial institutions to vigorously carry out social insurance deposits, fund collection, account management, and custody services, enrich the social security card product system and financial functions, and provide comprehensive management services for basic pension insurance, corporate annuities, and occupational pension funds operation. It explores the innovative development of the corporate annuity system, supports various conditions and willing enterprises to establish corporate annuities as soon as possible, and gradually expands the coverage of corporate annuities. It supports employers with conditions to explore opening up individual investment choices in corporate annuities. It promotes the expansion and improvement of individual pensions, increasing the contribution rate and amount, continuously optimizing the fine level of individual pension business services, and providing convenient services for the entire process of account opening, contribution, investment, and withdrawal. It encourages financial institutions to explore default investment services in consultation with individuals participating in individual pension plans. Actively exploring the integration of pension finance and investment advisory services, providing pension financial consulting and planning services.