China taps state firms to buttress pensions as society ages
China on Saturday (Nov 18) announced a pilot programme to help pension schemes meet growing pressure from an ageing society by transferring shares of state-owned firms to social security funds.
A document released by the country’s State Council, or cabinet, said the programme would begin this year with shares of up to seven SOEs to be transferred.
The plan is intended to help make up for shortfalls in the nation’s pension schemes and will be expanded in 2018 to involve more state-owned companies, the document said.
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