Cai Xiliang, Vice Chairman and President of China Life Insurance Group, delivered a speech at the 2024 Lujiazui Forum, elaborating on the three pillars of the Mainland's retirement insurance system. The first pillar has a basic retirement insurance coverage of 1.07 billion people, the second pillar covers nearly 76 million participants in enterprise annuities and occupational annuities. The growth of the third pillar, personal retirement insurance accounts, is quite significant. As of the end of last year, the number of personal retirement accounts opened has exceeded 49 million, and the vacancy rate of personal retirement accounts is about 70%. (TA/CY)

~