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China to expand commercial pension pilot scheme nationwide, regulator says -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO: Aged individuals watch a sport of mahjong in Beijing, China, April 6, 2021. REUTERS/Thomas Peter

BEIJING (Reuters) – China will from March 1 develop nationwide a pilot scheme creating business pension merchandise for the nation’s getting old inhabitants, its banking and insurance coverage regulator stated on Monday.

Aside from six insurers together with state-owned PICC Life Insurance coverage, the China Banking and Insurance coverage Regulatory Fee may also enable different pension corporations to take part within the pilot, it stated in an announcement.

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