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Ageing China boosts private sector role as pensions time bomb ticks Reuters 1 hr ago BEIJING, May 20 (Reuters) - China is tweaking its $1.2 trillion pension system to increase private sector involvement as its population ages rapidly and underfunding looms, but experts say fundamental changes are needed to provide adequate safety nets. The China Banking and Insurance Regulatory Commission (CBIRC), the country s top banking and insurance regulator, said at the weekend that it is expanding a pilot program of private pensions into two more regions - Chongqing and Zhejiang province. And sources with direct knowledge of the matter told Reuters CBIRC is also considering endorsing a list of private pension funds and appointing a group of professional managers to run them under a new scheme.

Zhang yanUnited statesDong keyongZheng bingwenXiao yuanqiMuralikumar anantharamanCheng lengLou jiweiPeople insurance company of chinaChinese academy of social sciencesChina pacific insurance groupTsinghua universityInsurance regulatory commissionChina bankingChinese academySocial sciences