October 2020

19Oct

Japanese pension funds may hold key to Chinese JGB puzzle

China has ramped up purchases of low-yielding Japanese government bonds China stormed back into Japanese government bonds over the summer with ¥2.2tn ($21bn) in purchases between June and August — the biggest three-month spree since Japan’s Ministry of Finance began compiling data in 2005. The country has made several similar incursions to the JGB market since 2016 — the previous record high for purchases — snapping up Japan’s notoriously low-yielding debt on a grand scale and causing head-scratching over what...

October 19, 2020
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September 2020

01Sep

Many Chinese women unprepared for retirement risk: survey

There is not enough awareness amongst Chinese woman concerning risks associated with retirement, a new study finds. The first retirement risks management white paper focusing on women, done by Manulife-Sinochem with the Fudan Development Institute, found less than half (47.4 percent) of those interviewed said they have pension insurance policies. In terms of the choice of protection, interviewees were generally worried about large medical expenditures, accessibility to care services, accidents and insufficient income. China’s population is aging – a...

September 1, 2020
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July 2020

30Jul

China’s Policy Instruments : Tax Reduction, Retirement Prolonging and Welfare Changes

By Peilin Yang China is facing a series of significant debt problems. We have studied the changes in debt and benefits under different policy instruments under the framework of large-scale OLG. Under the three retirement ages, as the retirement age increases, the maximum increase in benefits is 17.98%, and the debt is 75.69%. Under the five tax rates, the optimal tax rate is 28%, the maximum increase in benefits is 22.65%, and the maximum debt ratio is 75%. Source:...

July 30, 2020
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14Jul

China. Beijing raises retirement pensions

Beijing released a scheme to adjust basic pension for retirees, increasing 50 yuan ($7.13) per month for each person, according to the Beijing Municipal Human Resources and Social Security Bureau on Tuesday. The new scheme, which starts on Wednesday is expected to benefit nearly 3.97 million Beijing residents, including retirees of Beijing enterprises, government bodies and institutions. Wu Xiaojun, deputy director of the Beijing Municipal Human Resources and Social Security Bureau, said the adjustment of the basic pension will...

July 14, 2020
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03Jul

Annual Report on Financing Old Age Care in China (2017)

By Keyong Dong, Yudong Yao This book provides comprehensive analysis and descriptions of China's ageing finance system . China is undergoing the largest, fastest and longest process of population ageing in the world. It becomes a pressing challenge to the Chinese social security system in this era. Many developed countries have been going through this process. Pension and other financial tools have been studied and practiced for decades. China now is developing its own ageing finance systems by...

July 3, 2020
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June 2020

29Jun

Changes To Social Security Insurance In China

China has updated their social security insurance policies with some noteworthy changes. Jurisdiction China What's new? 1. Faster social security card application process The State Council and the Ministry of Human Resources and Social Security will facilitate a faster application process for social security cards through the nationwide integrated online government service platform. Read also WeBank, Huawei and KPMG Share Insights on Fighting COVID – 19 with FinTech 2. Merging of Maternity Insurance with Basic Medical Insurance The State Council...

June 29, 2020
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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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