In recent years, ICBC has been actively supporting the buildup of a multi-level social security system and keeping providing excellent pension management services. As of the end of 2017, the pension funds entrusted to ICBC for management rose 13 percent year-on-year to over RMB100 billion, ranking first in the banking industry at home. At the same time, ICBC has 17.3 million personal pension accounts under its management, and more than RMB500 billion worth of pension funds under its custody, the largest among its domestic peers, which has effectively supported the development of pension security undertakings.

Sources from the ICBC stated that as the reform of the pension security system in China has accelerated and the pension insurance policy has been continuously improved, the demand for pension management services from customers has been increasing. As one of the earliest financial institutions in China providing pension management services, ICBC, leveraging its comprehensive operation advantages, has been unceasingly improving its diversified and comprehensive pension service system. At present, its services have expanded from corporate annuity to occupation annuity, social security funds, comprehensive pension funds for corporate and public institutions, and personal pensions, covering all aspects of China’s pension security system and being able to better meet the needs of various types of customers. The Bank has provided comprehensive, one-stop and personalized pension management services for tens of millions of employees from more than 50,000 enterprises and public institutions.

To meet SMEs’ demands for pension services, ICBC develops the “Ruyi Pension” corporate annuity plan by targeting to address the practical difficulties of SMEs with a small capital base, lack of specialized personnel, and with high costs of setting up separate annuity plans. Thus SMEs and their employees can also enjoy quality and efficient pension management services. At present, ICBC has signed management agreements with more than 6,500 enterprises on the “Ruyi Pension” scheme.