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China's crisis in state pension system, unlock USD 15.3 trl


China s crisis in state pension system, unlock USD 15.3 trl
21 May 2021, 13:37 GMT+10
Beijing [China], May 21 (ANI): Hong Kong insurance sector is eyeing China s USD 15.3 trillion savings to avert a crisis in its state pension system, the size of the world s second-largest economy.
Georgina Lee and Enoch Yiu writing in South China Morning Post (SCMP), said that China turned to private insurers to help unlock USD 15.3 trillion of savings and avert a crisis in the state pension system as mainland insurers are tasked to convert savings into investment in retirement products as state pension pot seen drying up by 2035.
The China Banking and Insurance Regulatory Commission (CBIRC) on Saturday announced a pilot programme to foster endowment plans offering stable returns over 10 years post retirement, making it part of the third pillar in China s pension system, on top of state-run schemes and corporate annuities. ....

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MSNBC The Rachel Maddow Show March 26, 2021 04:00:15

Transcripts for MSNBC The Rachel Maddow Show 20210326 04:00:15
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Local Focus: Riding NZ's largest 'vert' ramp


Local Focus: Riding NZ s largest vert ramp
22 Feb, 2021 05:00 AM
3 minutes to read
From ollies and kickflips to handplants and 720s, all the moves were on show at New Zealand s largest vert ramp for the inaugural Verticus competition at Mount Maunganui s Blake Park.
Put together by locals, the competition was open to everyone and a crowd of 500 proved that skateboarding is thriving in the regions.
The 14-foot (4.36m) vert ramp is a big vertical drop that eases into a half-pipe, and for anyone not used to skateboarding, it s pretty terrifying.
Pāpāmoa skateboarder Beau Fisher, 11, was so keen he plucked up the courage to drop in for the first time, but it didn t go to plan. He shared a video of his fall with Local Focus. ....

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