Prudential calls for more incentives to boost China private pension industry

Prudential is calling for the Chinese government to allow more banks to be eligible for the country’s private pension scheme, while offering more tax incentives to encourage participation. The British life insurer offers personal pension products in China through its insurance joint venture CITIC-Prudential Life Insurance Company. It sees the private pension business, or the third pillar, as an important part of its China onshore businesses. However, it is stipulated by the cent…