China Archives - Page 14 of 30 - Pension Policy International

20MayMay 20, 2022

China’s private pension scheme to draw US$17.8 billion a year from savings accounts into asset management

China’s newly expanded private pension scheme will inject at least 120 billion yuan (US$17.8 billion) a year into the country’s asset-management market, according to analysts, as China Citic Bank becomes the first Chinese lender to apply for a licence to offer pension accounts in the scheme’s pilot programme. Read Also China: Big Four banks to pilot private pension scheme Under the scheme, unveiled in April, workers will be able to deposit up to 12,000 yuan per year into personal accounts that...

May 20, 2022

News2022, China, Investmwnt, Private Pensions

17MayMay 17, 2022

How to make active aging an integral part of economic growth in China

China is a rapidly graying country with those aged 60 or above reaching 267 million or 18.9% of the total population, and this may rise to one-third of the population before 2050. Welfare reform must work in tandem with social policy so as to make active aging an integral part of economic growth, linking health to wealth and common prosperity. Healthcare, labour reskilling and gender parity are three areas of focus for domestic policy to solve the challenges...

May 17, 2022

News2022, Aging, China

16MayMay 16, 2022

China: Big Four banks to pilot private pension scheme

China's Big Four state-owned banks will launch a pilot programme for retirement savings products in several regions soon, the CBIRC has announced. The banks are Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China and China Construction Bank. The retirement savings products, under development by the CBIRC and the People's Bank of China, are long-term investment plans with stable yields, fit for risk-averse residents, reported Xinhua News Agency citing the CBIRC. Banks to handle pension funds of up...

May 16, 2022

News2022, China, Coverage, Private Pensions

12MayMay 12, 2022

Do Pensions Reduce Debt?

By Wei Chen This paper estimates the causal impact of receiving pension payments on debt behavior among older adults, with a natural experiment around China's New Rural Pension Scheme (NRPS), one of the world's largest social pension programs. Using a fuzzy difference in discontinuity research design and four waves of the China Health and Retirement Longitudinal Survey (CHARLS), I find that the introduction of the NRPS reduced debt among older adults, and increased their ability to shield themselves against shocks,...

May 12, 2022

Articles, Pension design2022, Aging, China, Income

21AprApril 21, 2022

China to implement private pension system with a contribution cap of about $1,800 a year: report

China will soon start a new era of "private pensions" with the imminent implementation of a relevant mechanism, according to a report by the Shanghai Securities News published on Wednesday. The new mechanism, which is characterized by policy support from the government, voluntary participation and market-oriented operations, will be an important transformation of the current pension system that has a basic pension insurance and a corporate pension. According to the report, those who contribute to the basic pension insurance for workers...

April 21, 2022

News2022, China, Coverage, Private Pensions

19AprApril 19, 2022

China may see negative population growth in 2022, 12 years earlier than UN prediction: experts

Experts said that population aging may lead China to count more deaths than births in 2022, 12 years earlier than the UN predicted. They suggested boosting commercial insurance to support the elderly given the current inadequate old age welfare system. Chinese people aged over 65 have surpassed 14% of the total population in 2021, which is an important indicator and means the country has formally become an aged society, said Zheng Bingwen, director of the Center for International Social Security...

April 19, 2022

News2022, Aging, China, Labor Market

14AprApril 14, 2022

Principal Financial poised to take stake in Chinese pension manager

Principal Financial Group is poised to become only the third foreign firm to take a stake in a Chinese pension management firm on the mainland. A "change of shareholders" announcement on the website of CCB Pension Management Co. Ltd., a subsidiary of Beijing-based China Construction Bank, said Wednesday that subject to approval by the China Banking and Insurance Regulatory Commission, Principal will acquire a 17.65% stake in CCB Pension Management. The announcement said China Construction Bank will transfer 15 percentage points...

April 14, 2022

News2022, China, Pension Management

24MarMarch 24, 2022

China: National Pension Insurance Co receives green light to start operations

The CBIRC has given approval to the newly established National Pension Insurance Company to commence operations, making it the 10th standalone pension insurer operating in China. The business scope of the new company includes: annuity insurance, life insurance, accident insurance, health insurance; reinsurance business of the above-mentioned businesses; management of clients' yuan and foreign-currency denominated funds for the purpose of old-age security, etc. The National Pension Insurance Co is set up to serve as an impetus for the development of the...

March 24, 2022

News, Slider2022, China, savings, System Characterization

14MarMarch 14, 2022

China markets in turmoil as Russia ties add to list of risks

Global investors are losing faith in China's ability to navigate an increasingly complex maze of challenges. The war in Ukraine raises the specter of harsh sanctions being applied to Chinese firms should they proceed with plans to acquire stakes in Russian energy and materials producers. The risk of Chinese companies being delisted from the U.S. is growing. A housing slump is worsening. Record commodities prices locally may stoke inflation, while the highest COVID-19 infections since the Wuhan outbreak will weigh...

March 14, 2022

News, Slider2022, China, Investment, Russia

28FebFebruary 28, 2022

Retirement age to be progressively raised in China

This is the government’s first step in gradually raising the retirement age under its five-year plan through 2025, with other provinces expected to follow suit later. As Jiangsu calculates pensions partly based on how long each individual has worked, those who choose to defer could end up with higher monthly payments when they retire. Read also Hungarian pension funds made record income from insurance premiums Amid staunch opposition against a blanket increase in retirement age, the province has opted for a voluntary...

February 28, 2022

News, Slider2022, China, Retirement Age

May 2022

China’s private pension scheme to draw US$17.8 billion a year from savings accounts into asset management

How to make active aging an integral part of economic growth in China

China: Big Four banks to pilot private pension scheme

Do Pensions Reduce Debt?

April 2022

China to implement private pension system with a contribution cap of about $1,800 a year: report

China may see negative population growth in 2022, 12 years earlier than UN prediction: experts

Principal Financial poised to take stake in Chinese pension manager

March 2022

China: National Pension Insurance Co receives green light to start operations

China markets in turmoil as Russia ties add to list of risks

February 2022

Retirement age to be progressively raised in China