Nov 22, 2022 09:43 PM

FINANCE

China’s Personal Pension Scheme Nears Launch as Insurers’ Rules Finalized

By Kelsey Cheng and Wu Yujian

The China Banking and Insurance Regulatory Commission on Friday announced final rules governing participation of commercial banks and wealth management companies in the personal pension scheme. Photo: VCG

The China Banking and Insurance Regulatory Commission on Friday announced final rules governing participation of commercial banks and wealth management companies in the personal pension scheme. Photo: VCG

China is moving closer to officially launching its long-awaited personal pension system, with regulators this week issuing final regulations to insurance companies who want to sell retirement savings products to millions of individuals across the country.

The China Banking and Insurance Regulatory Commission (CBIRC), the country’s top insurance watchdog, sent out the rules on Monday, according to a notice on its website, after making some changes to a draft issued in late September.

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