Rapidly ageing China rolls out private pension scheme in 36 cities

Rapidly ageing China rolls out private pension scheme in 36 cities

9 days ago

SHANGHAI: China launched its first private pension scheme in 36 cities today as it grapples with a rapidly ageing population, allowing individuals to open retirement accounts at banks to buy pension products ranging from deposits to mutual funds.

The move marked the official launch of China’s version of Individual Retirement Accounts (IRA) in the US.

The first batch of eligible cities will include Beijing, Shanghai, Guangzhou, and Chengdu, the human resources and social security ministry said in a statement.

Read the full story

It's better on the Lumi News app

✅ It’s fast

✅ It’s easy to use

✅ It’s free

Start using Lumi

You might like ⬇️
Thousands of Congolese churchgoers join nationwide marches against eastern violence
CNA

CNA

Thousands of Congolese churchgoers join nationwide marches against eastern violence

42 minutes ago

Human rights group says China has more secret ‘police stations’ abroad than initially reported
South China Morning Post

South China Morning Post

Human rights group says China has more secret ‘police stations’ abroad than initially reported

Israeli president touts business ties on first Bahrain visit
CNA

CNA

Israeli president touts business ties on first Bahrain visit

Trending right now

Loading...
lumi screenshot

Switch to Malaysia’s #1 news app 🔥

News from 50+ trusted media

🔔

Get notifications for breaking news

Available in ENG, BM, and Chinese

Read More