China's pension market develops steadily - GREATER CHINA - Magazine
Published: December 11, 2023
China’s pension system has become more comprehensive with the implementation of the personal pension mechanism – the so-called third pensi...
Source: asiaasset.com
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Wang HaifengChangjiang Pension Insurance Co LtdChina Amp Rsquos Pension System Has Become More Comprehensive With The Implementation Of Personal Mechanism Ndash So Called Third Pillar Last YearCcording To Changjiang Pension Insurance Co Td Wang HaifengHe Company Amp Rsquos General ManagerIscusses The Pension Market Amp Rsquos Growth And Gives An Overview Of Changjiang Development Plans In This Interview With Asia Asset Management How Have Issues Such As Ageing Population Impacted China Over Past Few YearsHe Ageing Population Has Brought Challenges To The Country Amp Rsquos Retirement System ThusHe Market Is Demanding Stronger Pension Investment Capabilities From Financial Institutions In The MeantimeHina Amp Rsquos Pension System Has Become More Complete The Coverage Of First Pillar Basic State Comprehensive And Participation Rate Second Enterprise Annuities Occupational Experienced Steady Growth With Implementation Third Individuals Rsquo Growing Awareness Wealth AccumulationE Expect The Country Amp Rsquos Pension Replacement Ratio Will Continue To Improve What Is Your View On Long Term Trend Of Third Pillar Market We See Three Key Trends In Private FirstInancial Institutions Need To Differentiate Their Pension Products Based On Clients Amp Rsquo Age And Wealth SecondHethera Pension Manager Can Sustain Their Business Growth Is Highly Dependent On Products Amp Rsquo Capabilities To Generate Stable Long Term Annualised Return ThirdEnsion Managers Will Have To Provide More Value AddUch As Healthcare ServicesO Retain Their Clients From An Operations PerspectiveE Expect The Investment Approach Of Private Pension Products To Become More Nimble And Oriented Toward Long Term Returns Their Distribution Channels Will Also Convenient Clients Service WiseAnagers Will Likely Integrate Their Products With Various Pension Value Added Services They May Bundle Funds And For The Elderly Together As One Stop Solutions Clients Amp Rsquo Different Needs What Are Trends In Enterprise Annuity Occupational Market Has Grown Steadily Recent Years An Average Annualised 11 Increase Assets Under Management Between 2018 2022 Number Of Company Participants Individual Was 10 5 Ver The Past Few Years Initiatives Such As Voluntary Participation And Annuity Schemes For Talent Have Been Mooted Incorporation Into Enterprise Market They Are Expected To Further Improve Rate Occupational Amp Rsquos Assets Grew 22 Year On In 2022 We Expect Will Seea Significant Wealth Accumulation Effect Over Long Run Occupation System Is Automatically Added How Changjiang Expand Its Pension Business Going Forward Asa Unit Of China Pacific Insurance Company Cpic Hangjiang Puts Clients Amp Rsquo Interest At The ForefrontNd Is Committed To The Three Pillar Business Changjiang Has Over 1 Trillion Rmb Us 137 8 Billion Of Assets Under Management Company Puts Its Focus On Value InvestingMulti AssetMulti StrategyUlti Functionality Allocation CapabilitiesNd Launching More Differentiated Pension Products Changjiang Is Servicing Government And 10