October 2018

11Oct

Chinese pension system covers 925 million people

More than 925 million people are covered by the pension system in China, according to an article published by the country's top social security organ in the Qiushi Journal, a bi-monthly periodical run by the CPC Central Committee. The number is nearly nine times that of 1992. The pension funds for enterprise retirees have been rising for 14 consecutive years, according to the Ministry of Human Resources and Social Security. In addition, more than 1.35 billion people or nearly all the...

October 11, 2018
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September 2018

12Sep

China. Asset management firms see potential in pension funds

One month after the central regulator gave the green light to pension target securities investment funds, asset management companies have sped up their growth in the market. Two pension target securities investment fund products from Shanghai-based Zhong Ou Asset Management and Beijing-based Manulife Teda Fund Management started to be sold to the public on Monday. Both products will adopt the fund of funds strategy, with a portfolio that consists of multiple underlying mutual funds and each of those underlying funds...

September 12, 2018
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06Sep

What are the retirement ages around the world?

Retirement ages, or the age when some sort of government pension can be received, varies around the world. The OECD average for a normal pension age is currently 64.3 years for men and 63.7 years for women. While life expectancy has risen in many countries and governments grapple with ageing populations, any attempts to make people wait longer to collect benefits are usually met with fierce opposition, as Russia and Australia found out recently. Read more sbs

September 6, 2018
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August 2018

17Aug

China’s youth not prepared for retirement

China's younger generation are largely unprepared for retirement and have limited understanding of pensions, a recent study shows. That's according to a joint online survey taken earlier this year by Ant Financial and Fidelity International. About 28,400 people took part in the survey, 75 percent of whom were aged between 18 and 34. As many as 54 percent of respondents said they have made no investment or saving plans for retirement. The respondents expect an average retirement age of 58 years, yet...

August 17, 2018
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09Aug

China. New pension target securities funds get the green light

China has just approved 14 Chinese asset managers to float pension target securities investment funds, a move to improve A-share market liquidity and offer the nation's middle-income earners more diversified pension management solutions. China Asset Management Co Ltd, China Southern Asset Management Co Ltd, Bosera Asset Management Co Ltd, E Fund Management Co Ltd and 10 other asset management companies became the first batch to receive regulatory approval, according to the China Securities Regulatory Commission on Monday. People close to China...

August 9, 2018
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01Aug

China is trying to talk its way out of a growing problem with its military veterans

BEIJING (Reuters) - A senior Chinese officer appealed to military veterans on Tuesday not to take complaints about their treatment to the streets and to "rationally" lodge appeals for redress. At the annual meeting of parliament in March, China set up a Ministry of Veterans Affairs as part of a broader government reshuffle, aiming to better look after former soldiers whose complaints about poor treatment have flared into scattered protests in recent years. In February 2017, Chinese military veterans staged two...

August 1, 2018
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May 2018

04May

How China can build a more sustainable financial system

Chinese investors should integrate environmental, social and governance concerns into their investment decisions in order to fulfil their duties to their beneficiaries and support the development of China’s Ecological Civilization, according to a new report. Investor duties should also reflect and align with the Chinese government’s Guidelines for Establishing a Green Financial System, the report found. Investor Duties and ESG Integration in China, published in March, is the joint work of the UN Environment Finance Initiative (UNEP FI), the Principles for Responsible Investment (PRI),...

May 4, 2018
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March 2018

30Mar

China. 5 major changes set for pension insurance system

China's urban and rural residents pension insurance system, covering more than 500 million people, will meet five major changes, four years after it was established in 2014, according to a report by chinanews.com. The Ministry of Human Resources and Social Security and the Ministry of Finance released a guideline on Monday, indicating that the urban and rural residents pension insurance system, having not been established for a long time, still has some problems and needs to be improved. The security level...

March 30, 2018
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February 2018

27Feb

China’s pension funds stable, sufficient for 17.3 months

China's social security fund is stable overall despite deficits in certain places, said You Jun, vice minister of Human Resources and Social Security at a press conference on Monday. The total social security fund -- which consists of five major social security insurance programs, including medical and unemployment -- stood at nearly 7.6 trillion yuan at the end of last year, compared with 6.6 trillion yuan in 2016 and 5.9 trillion yuan in 2015. Pension funds drew 3.27 trillion yuan in...

February 27, 2018
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January 2018

18Jan

Fidelity International eyes mutual, pension fund business in China

Fidelity International, which launched three private funds in China in the past eight months, said on Thursday it would explore opportunities in the Chinese mutual and pension fund market. Fidelity was the first global asset manager to be awarded China’s private fund management licence a year ago, as the country gradually opens up its $2.2 trillion (1.59 trillion pounds) fund industry to global asset managers. Other managers have followed suit. Fidelity said it aimed to launch a larger variety of funds...

January 18, 2018
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