China edges closer to national pension system with ‘balancing’ of main retirement fund as population ages

Feb 23, 2022 | INVESTING

China has taken another step toward setting up a national pension system, beginning the “balancing” of its main retirement fund to help regions with older populations continue to make payouts.National balancing was started on January 1 for the corporate employees pension fund to “allow shortfalls to be compensated by surpluses nationwide,” deputy finance minister Yu Weiping said on Tuesday.The central government has been slowly working to link the various provincial pension plans into a…

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