In May 21st, according to people familiar with the matter, the important item of the State Council on promoting the construction of "two centers" in Shanghai -- Shanghai personal tax extension pension insurance pilot has passed the demonstration of relevant departments of Shanghai municipal government and reported to the CIRC.

The pilot of personal tax extended pension insurance is a recent work of the CIRC. Individual tax extended pension insurance can further enrich the endowment insurance products and meet the growing demand for old-age security.

According to the source, the current personal tax extension pension insurance pilot product positioning is: standardized products, and with a certain interest rate guarantee, the product form is universal or dividend insurance products. In the early stage of the trial, the group insurance channel may still be the main channel, and will expand to a risk channel in the future. China Pacific Insurance, China Life Insurance, Ping An pension and Taiping pension four companies are also expected to pilot the sale of personal tax extended pension insurance products.

"Taking the form of universal insurance and dividend insurance can promote the long-term competitiveness of insurance companies to carry out this business on long-term returns to customers." The source said.

"Adopting standardized methods can effectively protect product profits." An insurance company official told reporters that the standardized policy can make the insurance companies launch a relatively consistent product, so that the insurance company can not set the product too complex.