June 2020

25Jun

U.K., China entities collaborating on draft China DC plan

The U.K. Foreign and Commonwealth Office and the People's Bank of China are collaborating on a proposal for an auto-enrollment system and a plan design for occupational defined contribution plans in China. Read also UK. Key workers being targeted by pension transfer scammers – APJ The partners' efforts are aimed at improving the share of private-sector workers in China that are covered by occupational plans, which supplement the state retirement system. Currently, about 7% of workers are covered by workplace...

June 25, 2020
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May 2020
29May

China to raise pensions, among other social protection measures to reduce impact of COVID-19 crisis

China has over 600 million people whose monthly income is barely 1,000 yuan (USD 140) and their lives have further been affected by the coronavirus pandemic, Premier Li Keqiang said on Thursday. Read also US. The Federal Employee Retirement Plan Should Add, Not Delete Chinese Stocks "The average per-capita annual income in China is 30,000 yuan (USD 4,193), but there are over 600 million people whose monthly income is barely 1,000 yuan (USD 140), not enough to rent a room in...

May 29, 2020
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27May

US. The Federal Employee Retirement Plan Should Add, Not Delete Chinese Stocks

By Ric Edelman Never mix investing with politics, as I wrote in my bestselling book, The Truth About Retirement Plans and IRAs. Sadly, for millions of American public servants, the board that controls their $600 billion retirement savings plan just did. The Federal Retirement Thrift Investment Board just halted its plans to include Chinese stocks in the Thrift Savings Plan, the 401(k) equivalent for federal employees and members of the military. First, some background. The TSP has five core...

May 27, 2020
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14May

US. Federal Retirement Fund Halts Planned China Investment Under Pressure

A government retirement fund on Wednesday halted plans to invest in Chinese stocks this year, after growing criticism that the move would channel the savings of government workers to companies that are working against the national security goals of the United States. Read also Beijing hits back at Trump call to block US pension fund investment in China In a statement, the Federal Retirement Thrift Investment Board, which manages the retirement savings plan, said it had “deferred the transition” of...

May 14, 2020
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14May

Beijing hits back at Trump call to block US pension fund investment in China

Donald Trump’s order to stop the US government’s main pension fund from investing in Chinese equities will only hurt US investors, Beijing has warned as trade tensions between the countries threatened to turn into a “financial fight”. Beijing officials have been worried since late last year that Mr Trump would follow up his two-year China trade battle with action in financial markets. In letters to the head of the government’s main pension fund, which Mr Trump does not directly...

May 14, 2020
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13May

US. Trump Pressures Federal Pension to Halt Planned Chinese Stock Purchases

The Trump administration is pressing an independent board charged with overseeing billions in federal retirement dollars to freeze plans to invest in Chinese companies that Washington suspects of abusing human rights or threatening U.S. security. At issue is whether administrators of the Thrift Savings Plan (TSP), a retirement savings fund for federal employees and members of the military, should allow its $40 billion international fund (I-Fund) to track an index that includes some China-based stocks of companies under scrutiny...

May 13, 2020
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05May

White House Makes Appointments That Could Impact Pension Fund Decision to Invest in China

The White House on Monday named three nominees to sit on a board that oversees federal employee pension funds, a move that could see the reversal of a decision to allow one of the funds to invest in Chinese companies under scrutiny from Washington. If confirmed by the Senate, the three individuals would sit on the Federal Retirement Thrift Investment Board (FRTIB) which administers the Thrift Savings Plan (TSP), a retirement savings fund similar to a 401(k) for federal...

May 5, 2020
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April 2020

22Apr

US. Trump pressed to halt federal pension investments in China’s ZTE, Hikvision: Reuters

Lawmakers and former officials are making a last-ditch push to persuade the Trump administration to halt plans to invest billions of federal employee retirement dollars in Chinese companies that Washington suspects of human rights abuses or threatening U.S. security, according to sources and documents seen by Reuters. Read also Coronavirus will make US cities feel the pressure of pension debt The campaign, which includes letters and calls from Republicans and a sharply worded memo shared with White House Chief of...

April 22, 2020
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March 2020

20Mar

Pension Superpowers and Financial Markets in the Sino-American Century

By M. Nicolas J. Firzli In this primer published in the Feb. 2020 issue of Private Debt Investor (PDI), Nicolas J. Firzli, World Pensions Council, looks at how institutional asset owners will come to the fore in the new geo-economic context defined by renewed Sino-American "coopetition" across ASEAN countries, Australia, Eastern Europe and the MENA area, Brexit and the resurgence of one-nation conservatism in Britain, the slow, relative decline of the European Union and the secular rise of "Pension...

March 20, 2020
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11Mar

China’s total pensions assets grew by 19 percent to RMB 15 trillion in 2019, forecasts KPMG

China's three-pillar pension sector sees healthy growth prospects, improving investment returns and growing participation following regulatory changes. China's total pension assets are expected to have grown by 19 percent in 2019 to more than RMB 15 trillion. This is a year-on-year growth rate similar to its long-term average of 17 percent recorded over the last decade. According to KPMG's latest China Pensions Outlook report, the increase was due to the development of occupational annuities and continued capital injection under...

March 11, 2020
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