China Pensions Outlook
By KPMG
Welcome to KPMG’s fourth annual report tracking developments in China’s pension industry. China’s ageing demographics and the consequent challenges continued to draw attention during 2019 and triggered a number of fundamental changes. This report updates and builds on our research in China’s pension industry. In the report, we analyse why Pillar One will continue to be the most important and fastest- developing sector of the pension system in China. We also offer our view on what supporting measures, in addition to tax incentives, are needed to restore the growth of Pillar Two and get Pillar Three off the ground. Lastly, we examine how increasing retail participation in the pension space will intensify competition and give rise to new business opportunities.
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