R Guangchangwu Square Dancing Amp Nbsp However News Today : Breaking News, Live Updates & Top Stories | Vimarsana

For many Mainland Chinese, retirement can’t come soon enough. If you are in doubt, take a quick walk through any public park and you will see sw. ....

Mainland Chinese , For Many Mainland Chinese , Etirement Can Amp Rsquot Come Soon Enough If You Are In Doubt , Akea Quick Walk Through Any Public Park And You Will See Swarms Of Enthusiastic Retirees Participating In Tai Chi , R Guangchangwu Square Dancing Amp Nbsp However , He Energy In The Parks Masksa Widening Pension Gap That Is Threatening Well Being Of An Ageing Population Asa Result Longer Life Expectancy And Declining Fertility Rates , He World Health Organisation Projects The Proportion Of People Over 60 In China To Reach 28 Population By 2040 , R An Estimated 402 Million , Ore Than The Combined Populations Of Thailand And Us Amp Nbsp Pension Gap Is Particularly Acute In Rural Areas , Here Pervasive Poverty Continues , Espite Significant Wealth Accumulating In Urban Areas 1 Retirees China Have Hitherto Been Largely Supported By Family Amp Ndash There Are Strong Cultural Expectations Of Filial Piety Even If They Considerable Independent Funds And Some Income From The National Pension Scheme Recent Launch Ofa Private Means Future Can Potentially Look Forward To Greater Supplementary Retirement Funding Much Anticipated Nbsp Council For Social Security Fund Ncssf Officially Launched On April 21 , Ftera Comprehensive Four Year Trial It Isa Personal Account Based System , Oving From Product Based At The Beginning Of Trial Amp Nbsp Scheme Is Third Pillar Chinese Government Rsquos Efforts To Support Ageing Population It Enables China 1 02 Billion People , Ho Are Currently Covered By The National Basic Pension Insurance Scheme , O Open Private Pension Accounts Participants Can Make Voluntary Contributions Of Up To 12 , 000 Rmb Us 1 , 800 Annually Once They Have Set Up Individual Accounts Can Then Use The Pension Contributions To Purchase Financial Products From Eligible Institutions Contribution Caps Be Adjusted In Future , O This Mechanism Can Respond To Fluctuations In The Economy Amp Nbsp According Policy Documents , A Strong Legislative Framework Has Been Set Up , Ith Strict Rules About What Products Are Eligible Under The Scheme Funds Held In Private Pension Accounts Can Be Invested Certain Amp Ndash As Of Now Exclusively Domestic Financial , Ncluding Bank Wealth Management Products , Nd Public Funds Those Who Are Eligible Incentivised To Make Contributions With Tax Concessions The Ncssf Hopes Scheme Will Encourage Growth In Retirement Savings And Alleviate Growing Burden On National Pension Fund 2 Amp Nbsp Three Pillars Introduction Of Private , Hina Amp Rsquos Pension System Now Rests On Three Pillars The First And Second Are Existing Government Scheme Enterprise Occupational Annuity Schemes Nbsp Designed To Complement Each Other In Maximising Retirement Funding If Everyone Who Is Eligible Contributes Private , He Overall Market Potential Is Enormous , Nd Asset Managers Are Rightly Excited By The Prospect However , Otential Is One Thing ,