China pension reform offers opportunities

A new reform to China’s public pension fund (PPF) system has the potential to propel asset growth at insurers, say market participants. Ping An Annuity has predicted that the proposed occupation annuities will bring in an additional Rmb150 billion ($24.12 billion) annually into the pension industry over the next five years. Under rules announced last week, all of China’s 38 million government workers are to contribute 8% of their monthly salary to the PPF, while their employers …