How China can strengthen its retirement pillars
China's government will need to improve the second and third pillars of its retirement industry if it is to keep up with the needs of its fast-aging population. Here are some ways to do so.
Beijing has many challenges to building out its retirement system. Two of them are how best to build out the second and third pillars of the industry. It’s essential to do so, if the government wants to avoid mounting bills and growing impoverishment among its elderly.
The second pillar refers to defined benefit schemes, or pensions in which companies and individuals both contribute. The third is comprised of pension funds into which individuals solely invest.
“It is criticall…
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