China plans to roll out private, personal pensions
About time
“ASTONISHING”, “SPECTACULAR”, “unprecedented”: China has won plaudits from the World Bank and other experts for the rapid expansion of its basic state pensions over the past dozen years. The number enrolled in these schemes (including one for urban employees) crossed 1bn in 2021. But the speedy construction of this first “pillar” of China’s pension system has not been matched elsewhere in the planned edifice.
This article appeared in the China section of the print edition under the headline “Pillar talk”
From the April 30th 2022 edition
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