China’s Personal Pension Funds See Surge in Accounts, but Contributions Lag

The number of personal pension fund accounts surged last year, but the scheme designed to shore up China’s pension system remained hamstrung by low contributions and a lack of investment.

More than 50 million people had set up personal pension accounts as of the end of last year, Zhai Yanli, director-general of the Social Insurance Management Center at the Ministry of Human Resources and Social Security, said Wednesday at an industry conference in Beijing.