First, long-term investment conforms to the pension plan. The term of the pilot product is five years, and the cross-cycle investment arrangement better matches the long-term and long-term pension needs of customers. At the same time, dividend clauses are specially set up to meet some liquidity needs of customers during the investment period. Second, the risk control is complete, and a special risk management mechanism has been established. The pilot product has set up a special risk management mechanism, including smoothing fund, risk reserve and impairment reserve. , help to enhance the ability to resist risks and promote the steady operation of the business. The third is to pay attention to balance and give consideration to safety and profitability. This pilot product attaches great importance to the balance between safety and profitability. In terms of investment strategy, guided by the concept of large-scale asset allocation, we adopt a strategy similar to CPPI to optimize the sub-category assets with higher security level, focusing on areas that meet the needs of national strategy and industrial policy and supply-side structural reform, taking into account product safety and profitability. The fourth is to highlight the inclusive attributes. As for the starting point of purchase, this pilot product is set at 1 yuan, and the low threshold helps to cover the widest range of investors. In terms of rate structure, all expenses of the pilot product are lower than other wealth management products, and no excess management fee is charged, so that investors can enjoy more investment income. Fifth, pay more attention to consumer rights protection and investor education. Financial products for the aged are important innovations of financial services for the aged, which are different from general financial products in some terms. In this regard, this pilot work has formulated investor education and consumer rights protection programs, fully done information disclosure work, guided investors to plan rationally, and established the investment concept of reasonable return on long-term investment. The sixth is the exclusive name, which is issued on a pilot basis. Pilot products are issued by designated pilot institutions in specific regions. Only products that meet the relevant conditions can be labeled as "endowment wealth management products", and other institutions and products may not use this name. The significant difference in names helps customers to quickly distinguish between old-age wealth management products and general wealth management products.
Phoenix Net Finance's "Banking Eye" carefully combed four old-age wealth management products released by the first batch of four pilot companies. They are "closed net-worth pension financing products with fixed income in Aetna" by ICBC Finance, "closed net-worth pension financing products with fixed income in 202 1No. 1" by CCB Finance, "closed fixed income pension financing products with stable five-year fixed income in Zhao Rui 1" by CMB Finance and "Sunny pension financing products in 2026 No.60" by Everbright Finance.