As the reform of China's security system deepens, the pension service of ICBC has expanded to various areas such as remuneration and welfare management, pension planning and value preservation and appreciation of pension fund. By the end of 2015, the number of personal pension accounts under the custody of ICBC reached 15.23 million, pension fund under its custody RMB 439.7 billion and enterprise annuity fund under its custody RMB 82.7 billion, making the Bank a front-runner in the domestic pension service market.

According to an official with ICBC, as one of the first commercial banks in China to set foot in pension service, ICBC took the lead in the industry to set up dedicated departments and service teams for pension business and built a comprehensive financial service system integrating pension custody, account management, fund custody, investment and wealth management, management consultancy and agency service. At present, its pension service has covered over 20 industries, providing full-suite one-stop pension services for more than 46,000 state organs, enterprises and public institutions as well as their employees. Since 2014, ICBC has consecutively won the "Award of Best Performance" and the "Award of Best Development" of the year for pension business from China Banking Association.

In addition to improving security pension products, ICBC has been focused on enhancing innovation based on demand of different customer groups and launched multiple products and services integrating security and value increment. For instance, the Bank launched the "Ruyi Pension" enterprise annuity collection plan, which addressed the difficulties for enterprises in establishing the enterprise annuity system with simple working process, standard workflows, standardized management mode and diversified investment products, and enabled enterprises and their employees to enjoy safe, convenient and professional annuity management service. By the end of 2015, "Ruyi Pension" had attracted as many as 1.17 million customers. In order to satisfy the demand of enterprises and public institutions for managing employee welfare and remuneration, ICBC innovatively launched the "Ruyi Life" welfare plan product, which was featured by flexibility in product purchase and redemption, stable investment and safe operation. The wealth management product combined management over employees' welfare plan information with bank wealth management and satisfied the need of employers' for managing the welfare fund and demand of employees' for preserving and increasing the value of account fund. In 2015, ICBC's pension wealth management products reached RMB 212.8 billion.