高齡金融新藍海：以A公司為例

Abstract

台灣預計在2025年將達到超高齡社會，在人口老化趨勢中，我們看到銀髮商機蓬勃發展，同時現有退休金制度不足，步入高齡後隱含的財務風險，對國家財政與個人生活品質都產生極大的考驗。

在現有的三層退休金制度下-社會保險、職業退休金、個人儲蓄準備，國人該如何妥善規劃個人的退休金方案，以及強化企業退休金支柱，透過有計畫地提前部署，確保人生下半場無虞的退休生活，本研究參考鄰近日本的退休金制度，提出符合台灣國情的高齡金融建議，希望帶給政府機關在政策制定上的靈活度。

從退休金的三層架構，第二層的職業退休金與第三層的個人儲蓄準備金方案是亟待開發的市場機會。在職業退休金，產學界一直盼望開放勞退自選平台，以及個人儲蓄準備給予稅賦優惠，在整個退休理財市場蓬勃發展下，投信投顧產業可以利用產品設計能力、投資專業能力、財商教育能力，搭配跨產業的生態鏈，發展退休市場新藍海，這也是個案公司在高齡金融商機的下一個成長引擎。

本研究由台灣人口結構變化、高齡就業、退休金制度作大環境分析，並收錄日本的退休制度方案作為參考；在個案分析中，從PESTEL梳理大環境的機會與威脅，由SWOT分析看個案公司的策略選項，如何在高齡金融市場掌握先機，以5C架構與STPS的策略軸線發展，論述個案採取的戰略與戰術執行，再從TAM/SAM/SOM評估目標市場規模，以及系統化商業模式，為潛力市場的自選平台與個人儲蓄提出論述方向。

Taiwan is expected to reach an ultra-aged society by 2025. In the trend of population aging, we see thriving opportunities in the silver economy. Meanwhile, the existing pension system is inadequate, and the implicit financial risks that come with advancing age pose significant challenges to both national finances and individuals' quality of life.

Under the existing three-pillar pension system - social insurance, occupational pensions, and personal savings- how should individuals properly plan suitable retirement schemes and strengthen the corporate pension pillar? By deploying plans systematically in advance, we can ensure a worry-free retirement life in the second half of life. We propose elderly financial suggestions tailored to Taiwan's situation, drawing from neighboring Japan's pension system.

Within the three- pillar structure of pensions, there are urgent market opportunities in the second pillar of occupational pensions and the third pillar of personal savings. In the realm of occupational pensions, the academia and industry have long hoped for the opening of voluntary retirement platforms and tax incentives for personal savings. Amid the flourishing retirement financial market, the mutual fund and investment advisory industries can leverage their product design capabilities, investment expertise, and financial education capabilities, along with cross-industry ecosystems, to develop new blue oceans in the retirement market.

This study analyzes the macro-environment of Taiwan's demographic changes, elderly employment, and pension systems, and includes Japan's retirement system proposals for reference. In case studies, opportunities and threats are outlined through PESTEL analysis of the macro-environment, and strategic options for case companies are examined through SWOT analysis. The study discusses strategies and tactics adopted by the cases to seize opportunities in the elderly financial market, develop strategies and tactics through the 5C framework and STPS strategy axis, evaluate target market sizes through TAM/SAM/SOM, and propose systematic business models for potential markets.